Commercial Land With Two
For Sale
$699,000
1114 W Franklin Boulevard W, Gastonia, NC 28052
UMU-zoned site with existing service-bay improvements and access from three surrounding roads.
Property Size4,656 SF
Price / SF$150.13
Days on Market141
Property Features for 1114 W Franklin Boulevard W
General Information
Standard status
Active
Size
4,656 SF
Property subtype
Commercial
Zoning
UMU
Building Details
Year Built
1935
Buildings
2
Listing Agency:
Premier South
(704) 829-3518
Listed By:
Norris Lamb · License #286038
Source:
Techrealtyllc
Added: Mar 31
Changed: Aug 18
Last Checked: Aug 18 at 6:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Premier South
Investment Insights
Based on property information with market context.
This UMU-zoned commercial land offering combines five lots with two existing buildings totaling 4,656 square feet. The improvements measure 1,872 square feet and 2,784 square feet, with ceiling heights ranging from 9 to 12 feet, four service bays, and garage doors ranging from 8 to 11 feet. The property was built in 1935 and provides an existing configuration for automotive or other commercial use, subject to Gastonia zoning requirements.
Road access extends along W Franklin Boulevard, S Firestone, and S Dalton, creating 567.05 feet of combined frontage across approximately 0.89 acres. The site is positioned near Gastonia’s FUSE District and within walking distance of the historic Loray Mill complex. The property addresses include 1114 W Franklin Boulevard W, 1108 W Franklin, 1104 Dalton, and 110 S Firestone.
Road access extends along W Franklin Boulevard, S Firestone, and S Dalton, creating 567.05 feet of combined frontage across approximately 0.89 acres. The site is positioned near Gastonia’s FUSE District and within walking distance of the historic Loray Mill complex. The property addresses include 1114 W Franklin Boulevard W, 1108 W Franklin, 1104 Dalton, and 110 S Firestone.
Key Highlights
- Five‑lot commercial land package with two buildings
- ±0.89 acres with 567.05' of combined road frontage
- ±4,656 SF total building area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,160
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,143,200
$1.1M
Cap Rate 7%
$816,571
$816.6K
Cap Rate 9%
$635,111
$635.1K
Market Conditions
NOI Build-Up for 4,656 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$88.3K $18.96/SF
− Vacancy
−$6.6K −$1.42/SF
EGI
$81.7K $17.54/SF
− OpEx
−$24.5K −$5.26/SF
NOI
$57.2K $12.28/SF
Area
Gaston County, NC
Vacancy
7.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,143,200
Cap Rate 7%
$816,571
Cap Rate 9%
$635,111
Alternative Uses
Best Use
Retail
$816.6K
$714.5K – $952.7K
NOI $57,160 @ 7.0% cap · market cap 8.18%
Second Best
Industrial
$438.2K
$383.5K – $511.3K
NOI $30,676 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,581 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,380
Businesses Nearby
66k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Hotels & Casinos 5%
QuikTrip
Shops & Services
30,806 visits/mo
0.4 miles
Wells Fargo
Shops & Services
8,496 visits/mo
0.0 miles
Dollar General
Shops & Services
7,015 visits/mo
0.5 miles
Truist
Shops & Services
6,542 visits/mo
0.2 miles
PLS Financial Services
Shops & Services
5,055 visits/mo
0.2 miles
Demographics for 28052, NC
35,332
Population
15,561
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
83%
High-School Grad
41.4 sq mi
ZIP Area
853
Density / Sq Mi
$46,015
Median Household Income
$34,339
Median Earnings
$1,058
Median Rent
$173,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - UMU-zoned site with existing service-bay improvements and access from three surrounding roads.
Where is this commercial land located?
The property is located at 1114 W Franklin Boulevard W Gastonia, NC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Five‑lot commercial land package with two buildings; ±0.89 acres with 567.05' of combined road frontage; ±4,656 SF total building area
