2465 New Hope Rd Gastonia, NC 28054-8433

Property Details for 2465 New Hope Rd

Year built

1998

Lot size

1.74 lot acres

Property size

11,200 SF

Zone code

RET05

Property type

Retail space

APN

148677

APU

148677

Description

This exceptional investment opportunity presents a fee-simple ownership of a ±10,908 square foot Walgreens located at 2465 S New Hope Rd, Gastonia, NC 28054. The property sits on a 1.74-acre lot at a high-traffic intersection, benefiting from its location in a bustling retail corridor alongside major national retailers including Walmart, Lowe's, and others. The single-tenant, net-leased property features a Walgreens corporate guarantee, providing exceptional security. The current lease, commencing February 2, 1998, has a remaining term of approximately 3.4 years, expiring March 31, 2028, with options for four or five-year lease extensions. The property boasts a highly replaceable rental rate of $14 per square foot, generating a substantial net operating income (NOI) of $152,712, resulting in an attractive 7.25% cap rate at the asking price of $2,106,372. Built in 1998, this property benefits from its proximity to Walmart and Eastwood Shopping Center, and is directly adjacent to Food Lion and Redbud Commons Shopping Center. The surrounding area demonstrates strong demographics, with average household incomes exceeding $107,277 within a 2-mile radius. This is a rare opportunity to acquire a well-located, stable, and high-performing retail investment property.