832 Chester St Gastonia, NC 28052

Property Details for 832 Chester St

Year built

2001

Lot size

0.82 lot acres

Property size

2,357 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Pizza Hut restaurant located at 832 S Chester St, Gastonia, NC 28052. The property boasts a strong location directly off Highway 321 within the Charlotte MSA, benefiting from high visibility and traffic counts. Built in 2001, this single-story, 2,357 square foot building sits on a 0.82-acre lot and is situated near a signalized hard corner intersection. The property is currently under a single-tenant, absolute NNN lease with a national franchisee (Pizza Hut), offering significant stability and minimal landlord responsibilities. The lease features 9.4 years remaining and includes annual rent bumps of 1.25%, ensuring consistent income growth. The asking price is $1,854,000, representing a price per square foot of $786.59 and a compelling 6.25% cap rate based on a current Net Operating Income (NOI) of $115,899. This investment offers a rare opportunity to acquire a well-performing, nationally branded retail property in a prime location with significant long-term growth potential. The property's strong location within a corridor featuring big-box national credit tenants further enhances its investment appeal. This is a turnkey investment ideal for passive income seekers.