1690 Neal Hawkins Rd Gastonia, NC 28056

Property Details for 1690 Neal Hawkins Rd

Year built

2017

Lot size

0.91 lot acres

Property size

3,513 SF

Property type

Banks

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,513 square foot KFC restaurant located at 1690 Neal Hawkins Rd, Gastonia, NC 28056. The property sits on a 0.909-acre lot and boasts a brand-new 20-year absolute NNN lease with the largest KFC franchisee in the U.S., FQSR, LLC, a company operating over 832 locations (representing over 20% of the U.S. KFC system) and projecting over $1.1 billion in sales in 2024. The lease includes 7% rent bumps every 5 years and two 5-year renewal options, extending the lease to 2044. The property has a current NOI of $184,000, resulting in a 5.85% cap rate. Built in 2017, this single-story building benefits from excellent visibility and access on Neal Hawkins Rd and Union Road, with a daily traffic count of 31,825 vehicles. The location enjoys strong demographics, with a total population of 97,690 within a 5-mile radius and an average household income of $114,684 within a 1-mile radius. The tenant, a highly successful operator, maintains an impressive 8.14% rent-to-sales ratio, significantly exceeding the national average, and has committed to a remodel by the end of 2027. The property is zoned C and offers a secure, long-term investment with substantial upside potential. The asking price is $3,145,000.