For Sale
$41,000,000

111 Garrison BlvdGastonia, NC 28052

$41M NNN-Leased Retail Portfolio, 100% Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional portfolio comprises nine net-leased retail properties strategically located across North Carolina and South Carolina. The properties, totaling 3,925 to 39,625 square feet, boast a diverse tenant mix of nationally recognized brands including Dollar General, Walgreens, CVS Pharmacy, Family Dollar, Food Lion, Bojangles, and Goodyear Auto Service. The portfolio benefits from a weighted average remaining lease term of 10 years, with corporate guarantees in place, ensuring consistent cash flow. The properties are situated in established trade areas with convenient access to major thoroughfares, and exhibit a strong track record of performance, reflected in the current 100% occupancy rate and a substantial net operating income (NOI) of $2,161,314.96, yielding a 5.27% cap rate. Lot sizes range from 0.68 to 4.02 acres. Years built vary, ranging from 1960 to 2020, showcasing a blend of established and newer properties. This rare opportunity presents a compelling investment proposition for discerning buyers seeking a stable, high-performing retail portfolio in a dynamic market. The portfolio offers a diversified tenant base, long-term leases, and significant upside potential. Individual property details, including lease terms and specific NOI figures, are available upon request. This portfolio represents a unique chance to acquire a legacy asset with substantial long-term value.

Highlights

  • Rare net-leased portfolio of nine essential retail assets in established North Carolina and South Carolina trade areas, primarily within the Charlotte MSA.
  • Nine net-leased properties anchored by Food Lion, Walgreens, CVS, Bojangles, Dollar General, and Goodyear, all with corporate guarantees and easy access locations. A mix of newer construction and well-maintained buildings.
  • Portfolio features a diverse tenant mix of essential retailers with strong corporate guarantees.
  • Convenient locations with high visibility and access, predominantly situated in densely populated residential areas.
  • Majority of properties located within the Charlotte, NC MSA, offering a balance of newer and well-maintained buildings.
  • Properties benefit from strong population growth projections and limited direct competition.

Property Details for 111 Garrison Blvd

Property type
Retail properties, Grocery and convenience stores
Square Feet
3,925 SF
Lot Size (sq. ft)
29,621 SF

Location Insight

City
Gastonia
County
Gaston
State
North Carolina
Latitude
35.25289
Longitude
-81.182415
111 Garrison Blvd, Gastonia, North Carolina

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111 Garrison Blvd
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