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33934394
33194246

2396 E. Franklin Boulevard, Gastonia, NC 28054 For Sale

MECA Commercial Real Estate
Listed by MECA Commercial Real Estate
$1,630,000
55 days on market
Updated 27 days ago

2396 E. Franklin Boulevard

Details
Property Type Retail
Sub Type Storefront
Square Footage 4,370
Cap Rate 6.75%
NOI $110,004
Tenancy Single
Brand/Tenant Elevate Eyecare
Lease Type NNN
Lease Term 10
Lease Expiration 12/13/2035
Remaining Term 9.5
Rent Bumps Yes
Lease Options (1) 5-year option at the then fair market value
Year Built 1977
Acreage 0.870
Investment Type Net Lease
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.

The property has a strong lease agreement with tzvecl management of co, LLC, a Colorado limited liability company that includes a base term of 10 years and (1) 5-year option at the then fair market value. Additionally, the lease has 3.00% annual rent increases, leading to a 33% growth in NOI during the base term. This provides a stable and predictable source of income for the owner, making it an attractive investment opportunity.

The property lease is an NNN lease where the Tenant is responsible for maintenance, taxes, and insurance costs associated with the property. The Landlord is responsible for Roof Maintenance/Replacement, HVAC Replacement, Structural Components and Parking Lot.

Investment highlights

  • First Year NOI: $110,004.00
  • Capitalization Rate: 6.75%

Listing Contacts

MECA Commercial Real Estate
Listed by MECA Commercial Real Estate

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$110,004.00
$9,167.00/mo

Valuation Metrics

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DSCR
6.75%
Cap Rate
6.75%
ROI

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