Listed by MECA Commercial Real Estate
$1,630,000
2396 E. Franklin Boulevard
Details
Property Type Retail
Sub Type Storefront
Square Footage 4,370
Cap Rate 6.75%
NOI $110,004
Tenancy Single
Lease Type NNN
Lease Term 10
Lease Expiration 12/13/2035
Remaining Term 9.5
Rent Bumps Yes
Year Built 1977
Acreage 0.870
Lease Commencement 12/14/2025
2396 E. Franklin Boulevard, Gastonia, NC 28054
Marketing description
Elevate Eyecare, a national optometry operator with locations across North Carolina, South Carolina, Georgia, Colorado, Minnesota, Iowa, Tennessee, Alaska and Illinois, entered into a Ten (10) Year NNN lease that originated on December 15, 2026 at this highly trafficked location along E. Franklin Blvd (NC Hwy 29-74) in Gastonia, NC.
This investment opportunity provides an excellent opportunity for an economical entry into a Commercial Real Estate Investment or IRC Section 1031 Exchange.
Investment highlights
- Ten (10) Year NNN lease with Elevate Eyecare
- Lease commenced December 15, 2025; expires December 14, 2035
- 3% annual rent increases leading to 33% NOI growth over base term
- First Year NOI: $110,004
- Cap Rate: 6.75%
- Sale Price: $1,630,000
- (1) 5-year renewal option at then fair market value
- Tenant (TZVECL Management of CO, LLC) responsible for maintenance, taxes, and insurance
- Highly trafficked location along E. Franklin Blvd (NC Hwy 29-74)
- Excellent opportunity for IRC Section 1031 Exchange
Listing Contacts
Listed by MECA Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$110,004.00
$9,167.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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