3628 Franklin Blvd Gastonia, NC 28056-9273
- Turn key restaurants
- 4,756 SF
- 1.28 lot acres
Aug 07, 2023
Current Use by Public Records
- Juicy crab / Seafood Restaurant
- The Juicy Crab Gastonia / Seafood Restaurant / Family Restaurant
Property Details for 3628 Franklin Blvd
- Year built
- 1998
- Lot size
- 1.28 lot acres
- Property size
- 4,756 SF
- Zone code
- REST2
- Property type
- Turn key restaurants
- APN
- 138035
- APU
- 138035
Description
This exceptional investment opportunity presents the fee simple ownership of a 4,815 square foot The Juicy Crab restaurant in Gastonia, NC (Charlotte MSA). The property, built in 1998 and situated on a 1.28-acre lot with 89 parking spaces, benefits from a strong location on E Franklin Blvd, a major thoroughfare averaging 41,000 vehicles daily. The absolute NNN lease, commencing January 1, 2017, and expiring December 31, 2036, has over 12 years remaining, with four 5-year options to extend, each including a 7% rent increase. This provides significant long-term income growth and inflation protection. The current annual net operating income (NOI) is $115,560, resulting in a 6.70% cap rate. The asking price is $1,725,000 ($358.26/sq ft). The property is zoned CBD and enjoys excellent visibility, situated near major retail centers including Franklin Square III (454,000 sq ft), Eastridge Mall (1,112,000 sq ft), and numerous national retailers such as Walmart, Sam's Club, and Home Depot. The 5-mile trade area boasts a population exceeding 112,000 with an average household income of $82,960. This is a management-free investment with significant upside potential. The property's address is 3628 E Franklin Blvd, Gastonia, NC 28056. The APN is 138035.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gastonia
- County
- Gaston
- State
- North Carolina
- Longitude
- -81.115
- Latitude
- 35.2582
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
