The blood-pressure-lowering effects of red wine are attributable not to its alcohol content, but to the beneficial chemicals called polyphenols that it contains, even in its nonalcoholic form. In fact, alcohol may limit the beneficial effect of the polyphenols.
When men drank gin, they experienced no change in blood pressure. With red wine, there was a slight but statistically insignificant lowering. But with nonalcoholic red wine, the men saw a significant decrease in both systolic and diastolic blood pressure.
NYT: Without Alcohol, Red Wine Is Still Beneficial