Catylist ID:
#30578523
Absolute NNN 20 Year Lease - Hardees. No Landlord Responsibilities
Retail-Commercial
for Sale
| Catylist Listing ID: | 30578523 |
| Property Subtypes: | Free-Standing Building, Restaurant, Street Retail, Other |
| Building Size (RSF): | 2,960 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $3,000,000 |
| Unit Price: | $1,013 PSF |
| Has Drive-Thru? | Yes |
| Property Use Type: | Net Leased Investment (NNN) |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 4.0% |
| Last Updated: | 10/22/2020 |
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. Please see the attached Offering Memorandum. |
Attachments & Media
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 |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 6,260 | 66,125 |
| Median Age: | 34.14 | 35.11 |
| Households: | 2,356 | 25,587 |
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