1893 Remount Rd Gastonia, NC 28054-7413

Property Details for 1893 Remount Rd

Year built

1990

Lot size

6.43 lot acres

Property size

82,059 SF

Zone code

OFF10

Property type

Banks

APN

119445

APU

119445

Description

This exceptional investment opportunity presents a fee-simple ownership of an 82,580-square-foot distribution facility in Gastonia, North Carolina. The property, built in 1990 and situated on a 6.43-acre lot, is currently 100% occupied under an absolute NNN lease with Gannett Co., Inc. (NYSE: GCI), a financially strong tenant with a corporate guarantee. The lease, commencing April 29, 2013, has a remaining term of 8.4 years, with two 10-year renewal options. Annual rent increases of 2.1% provide a hedge against inflation and consistent income growth. The current asking price is $6,865,430, representing a cap rate of 6.50% and a price per square foot of $83.14. The property boasts 110 parking spaces and is zoned C-3 General Business District. Its strategic location on Remount Road, adjacent to Interstate 85 (over 125,000 vehicles per day), offers excellent accessibility. The property's proximity to Caromont Regional Medical Center, Eastridge Mall, and other major retail centers further enhances its value. The strong demographics of the area, including a 13% population growth since 2010 within a 5-mile radius and its location within the Charlotte MSA, contribute to the property's long-term investment potential. The Net Operating Income (NOI) is $446,253. This is a rare opportunity to acquire a high-quality, net-leased industrial property with a strong tenant and significant upside potential.