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Shopping Strip

New Hope Plaza

202 S New Hope Rd, Gastonia, NC 28054

Listing Price: $7,236,206

Cap Rate
7.25%
Gross SF
111,848
Rentable SF
111,848
Price/Gross SF
$64.70
Lot Size
15.87 acres
Year Built
1967

Investment Overview

On behalf of ownership, Marcus & Millichap is pleased to present the exclusive listing for New Hope Plaza, a true value add opportunity located in Gastonia, North Carolina. Built in 1967 and fully renovated in 2012, the site consists of 111,848 square feet of gross leasable square feet. 87% of the total GLA is currently leased, anchored by Hamrick’s and Planet Fitness. The 15.87 acre site is positioned at the intersection of two main commercial arteries, Franklin Boulevard and South New Hope Road. Over 66,000 vehicles pass the site per day. It is part of a two mile retail corridor just off Interstate 85, featuring Target, Dicks, TJ Maxx, Ollie’s Bargain Outlet, Gabe’s, Conn’s, Advance Auto, BB&T, PNC, South state Bank, Wendy’s and McDonalds. Also nearby is Franklin Square, a series of strip centers divided into three Phases. Phase I features a Wal-Mart, Best Buy, Ross Dress for Less, and Michaels. Phase II is home to Lowe's Home Improvement Warehouse and Sam's Club. Phase III is where Kohl's, Old Navy, Books-A-Million, Gander Outdoors, Shoe Carnival, Pier 1 Imports, PetSmart and a 14- screen movie theater are located. Just across Franklin Boulevard is Eastridge Mall, the only indoor regional mall in the area; it is anchored by Belk and Dillards. The mall is also home to over 80 specialty stores including Victoria's Secret,, Bath & Body Works, Footlocker, Hibbet Sports, Claire's, Hat Fanatic, a full-service food court, Red Lobster and other services.

Investment Highlights

  • 111,848 SF Value Add Shopping Center in Gastonia, North Carolina
  • 14,465 SF Vacancy, of which 14,465 is an End Cap Unit
  • Mixed Commercial & Residential Zoning with Possible Residential Development Adjacent

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Listing Price: $7,236,206

Cap Rate
7.25%
Gross SF
111,848
Rentable SF
111,848
Price/Gross SF
$64.70
Lot Size
15.87 acres
Year Built
1967

Investment Highlights

  • 111,848 SF Value Add Shopping Center in Gastonia, North Carolina
  • 14,465 SF Vacancy, of which 14,465 is an End Cap Unit
  • Mixed Commercial & Residential Zoning with Possible Residential Development Adjacent

Investment Overview

On behalf of ownership, Marcus & Millichap is pleased to present the exclusive listing for New Hope Plaza, a true value add opportunity located in Gastonia, North Carolina. Built in 1967 and fully renovated in 2012, the site consists of 111,848 square feet of gross leasable square feet. 87% of the total GLA is currently leased, anchored by Hamrick’s and Planet Fitness. The 15.87 acre site is positioned at the intersection of two main commercial arteries, Franklin Boulevard and South New Hope Road. Over 66,000 vehicles pass the site per day. It is part of a two mile retail corridor just off Interstate 85, featuring Target, Dicks, TJ Maxx, Ollie’s Bargain Outlet, Gabe’s, Conn’s, Advance Auto, BB&T, PNC, South state Bank, Wendy’s and McDonalds. Also nearby is Franklin Square, a series of strip centers divided into three Phases. Phase I features a Wal-Mart, Best Buy, Ross Dress for Less, and Michaels. Phase II is home to Lowe's Home Improvement Warehouse and Sam's Club. Phase III is where Kohl's, Old Navy, Books-A-Million, Gander Outdoors, Shoe Carnival, Pier 1 Imports, PetSmart and a 14- screen movie theater are located. Just across Franklin Boulevard is Eastridge Mall, the only indoor regional mall in the area; it is anchored by Belk and Dillards. The mall is also home to over 80 specialty stores including Victoria's Secret,, Bath & Body Works, Footlocker, Hibbet Sports, Claire's, Hat Fanatic, a full-service food court, Red Lobster and other services.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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