Arby's University Boulevard

Retail-Commercial for Sale
Catylist Listing ID: 30589307
Property Subtypes: Restaurant
Building Size (RSF): 3,178 SF
Gross Building Area: See Agent
Sale Price: $2,080,000
Unit Price: $654.50 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.25%
Last Updated: 3/30/2020

Overview / Comments

The 1.21 acre property is corporately leased to Arby’s. They are currently in their first option, with (3) 5-Year Options remaining. There are 7.5% rent escalations at each option. Arby’s has occupied the location since 2003. University Boulevard (39,400 VPD) is home to Charleston Southern University (3,650 students) and Trident Medical Center (313 beds). National retailers in the area include Wendy’s, Cook Out, Zaxbys, Sonic, CVS, Starbucks, Firehouse Subs, and many hotel chains. Aside from a strong medical (Roper Saint Francis, Trident Regional, MUSC) and education community (College of Charleston, The Citadel, Charleston Southern, Charleston School of Law), companies such as Boeing, Volvo, Bosch, Google, Westvaco and KapStone have chosen the Charleston MSA for their regional headquarters. Additionally, the South Carolina Ports Authority operates five public terminals through the Charleston harbor, each of which promotes housing, retail, office, warehouse and manufacturing stability and expansion.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 486-02-00-018
Year Built: 2003

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,113 62,182 167,061
Median Age: 25.86 34.11 32.57
Households: 2,676 23,397 61,935

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