Absolute NNN 20 Year Lease - Hardees. No Landlord Responsibilities

Retail-Commercial for Sale
Also listed as Shopping Center, Special Purpose
Catylist Listing ID: 30200202
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 2,960 SF
Gross Building Area: See Agent
Sale Price: $3,000,000
Unit Price: $1,013 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 4.0%
Last Updated: 9/20/2018

Overview / Comments

Brand New Construction. A single-tenant Hardee's, 20 year absolute NNN lease investment property. Zero landlord responsibilities for this 2,960 SF building with a drive-thru situated on approximately 0.80 acres. Net Operating Income $117,244.00.

EXPLOSIVE GROWTH AREA OF CHARLESTON: Conveniently located at I-526 (68,900 Average Daily Traffic) and Clements Ferry Road (30,000 ADT). 3,252 residential units in the immediate area of the property with 1,634 additional homes under construction. Nearby Cainhoy Plantation is approved for more than 18,000 new homes to be built.

LONG TERM NNN LEASE WITH OPTION PERIODS: New 20-year, Absolute NNN Lease with four, 5-year option periods. No landlord responsibilities.

RENTAL ESCALATIONS: 10% Rental Increases every 5 years in the initial 20-year lease term, as well as four 5-year option periods.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Berkeley
Submarket/Township: 78 - Wando/Cainhoy Area
Tax ID/APN: 271-00-01-194
Year Built: 2017

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 6,260 65,261
Median Age: 34.14 35.2
Households: 2,356 25,211
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