4701 Gate City Blvd Greensboro, NC 27407

Property Details for 4701 Gate City Blvd

Lot size

4.15 lot acres

Property size

53,000 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 53,000 square foot shopping center presents a compelling value-add or redevelopment opportunity in Greensboro, North Carolina. Strategically located at the corner of West Gate City Boulevard and Groometown Road, with convenient access from Bowman Avenue, the property sits on a sizable 4.15-acre lot. Currently boasting 100% occupancy with a diverse mix of local tenants, this multi-tenant retail center offers significant upside potential. The existing leases provide a strong foundation, with many tenants on month-to-month agreements or having less than one year remaining on their current terms. A notable aspect of this investment is the substantial opportunity to increase rental rates, currently estimated to be approximately fifty percent below market value. This presents a clear path to enhance profitability and maximize return on investment. The property's prime location and the potential for rental rate increases make this a highly attractive opportunity for investors seeking immediate cash flow and long-term appreciation. With a modified lease structure and a remaining lease term of one year, this asset offers flexibility and control for the next owner. The 5% capitalization rate further underscores the strong financial prospects of this Greensboro retail center.