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Franklin Green Retail Center, Gastonia, North Carolina

Franklin Green Retail Center

2516, & 2524 East Franklin Boulevard

Price $6,134,000
Cap Rate 6.50%
NOI $398,671
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2003
Building Size 26,740 SF
Lot Size Contact For Details
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

MULTI-TENANT RETAIL CENTER WITH STRONG SHADOW ANCHOR
» Leased to a strong mix of national, regional, and local tenants
» Shadow-anchored by Walgreens
» Multi-tenant center allows for investment diversification
» NNN leases with management reimbursement and administration fees on CAM charges, limiting landlord expense slippage

HIGH-TRAFFIC LOCATION ON FREEWAY-VISIBLE PARCEL
» Located at the signalized hard corner of East Franklin Boulevard and Cox Road, with excellent visibility and access to 70,000 vehicles per day at the intersection
» Freeway-visible location with access to Interstate 85, with an average traffic volume of 125,000 vehicles per day near the property
» Interstate 85 is a principal transportation corridor which links Gastonia with Charlotte, Concord, Greensboro, and Durham to the northeast and Spartanburg, Greenville, Atlanta, and Montgomery to the southwest

CORE LOCATION IN DENSE RETAIL CORRIDOR
» Located in a densely populated area, with 110,947 residents within a five-mile radius
» Central location in the heart of Gastonia’s dense retail corridor – East Franklin Boulevard is Gastonia’s primary thoroughfare and retail corridor
» Near the 435-bed CaroMont Regional Medical Center, Gaston County’s largest employer, with a workforce of more than 4,000
» Nearby retailers include Walmart Supercenter, Lowe’s, Sam’s Club, Regal Cinemas, Target, PetSmart, Dick’s Sporting Goods, and many others
» Close proximity to Downtown Gastonia, Downtown Charlotte, and Charlotte Douglas International Airport (over 44 million passengers per year)



Property Description

The property is conveniently located at the signalized hard corner of East Franklin Boulevard and Cox Road, with excellent visibility and access to 70,000 vehicles per day at the intersection. Cox Road provides immediate access to Interstate 85, which links Gastonia with Charlotte, Concord, Greensboro, and Durham to the northeast and Spartanburg, Greenville, Atlanta, and Montgomery to the southwest. As a principal transportation corridor through the region, Interstate 85 is heavily trafficked, experiencing an average volume of 125,000 vehicles per day near the property. East Franklin Boulevard serves as Gastonia’s primary thoroughfare, and the property is centrally located in Gastonia’s dense retail corridor. The property is shadow anchored by Walgreens and is surrounded by shopping centers with well-known national and regional retailers. The property is within walking distance of Franklin Square, a series of strip centers divided into three phases; tenants in Franklin Square include Walmart Supercenter, Lowe’s, Sam’s Club, Regal Cinemas, Ross, Best Buy, PetSmart, and more. Other notable retailers near the property include Target, Home Depot, Dick’s Sporting Goods, Kirkland’s, Hobby Lobby, and Starbucks.

Located three miles from downtown Gastonia and just over 16 miles from downtown Charlotte, the property is close to major community amenities and benefits from a strong customer base. The property is less than a mile from the 435-bed CaroMont Regional Medical Center. CaroMont is Gaston County’s largest employer, with a workforce of more than 4,000. Additionally, the property is located in a densely populated area; 110,947 residents live within a five-mile radius of the property, providing a large customer base.

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