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Roots Oil, Pelzer, SC

Investment Summary

Price $1,834,000
Cap Rate 6.75%
NOI $123,750
Lease Term 20 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 7.5% rental increases every five (5) years
Year Built Renovated in 2022
Building Size 5,500 SF
Lot Size 1.24 acres (54,014 SF)
Status Available
Lead Brokers Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

20-YEAR BASE TERM GUARANTEED ABSOLUTE NNN LEASE
» New 20-year fee-simple absolute NNN Lease at a low price-point, which qualifies for accelerated and bonus depreciation

» Recent 20-year lease extension, demonstrating tenant’s success and long-term commitment to the site
» 2022 renovation including new fuel canopy, 4 MPD’s, and display signs

» Absolute NNN lease requires zero landlord management, ideal for an out-of-area or passive investor
» Four (4) five (5) year renewal options
» Roots Oil Company currently operates in 11 states (GA, AL, SC, KY, MO, AR, WI, NY, NV, AZ & ID) with over 57 locations (and quickly expanding)

PROMINENT LOCATION ON HARD SIGNALIZED CORNER
» Roots Oil is strategically located at the northeast corner of the four-way signalized intersection of U.S. Route 25 / Augusta Road & State Highway 418 / Old Hundred Road, combining for 23,300 AADT
» Easily accessible location offering direct access from U.S. Route 25 / Augusta Road (14,500 AADT) and State Highway 418 / Old Hundred Road(8,800 AADT)
» Lack of competition in the immediate surrounding area
» Gateway to Greenville, South Carolina, the county seat of Greenville County and sixth most-populous city in the state (72,095 residents)
» The site is supported by a population of 356,782 residents living within a 15-mile radius of the site (a 25% increase since 2010)

GREENVILLE-ANDERSON-GREER MSA IS THE LARGEST IN THE STATE BY POPULATION
» Pelzer is included in the Greenville-Anderson-Greer Metropolitan statistical area, which is the largest MSA in the state by population (928,195 residents per the 2020 census)
» Excellent average annual household income of $99,070 within a 15-mile radius of the site and projected to increase by 13% in the next four years
» Projected AAHI and population increases within 5-, 10-, and 15-mile radii over the next five years poise Roots Oil and Pelzer for steady concurrent growth
» The area is home to numerous major companies, including Michelin, Prisma Health, Bon Secours, and Duke Energy
» Greenville hosts several colleges and universities within the city limits, including Bob Jones University, Greenville Technical College, and an ECPI University campus
Furthermore, Furman University and North Greenville University are situated in the broader Greenville area

Property Description

» This Roots Oil is strategically located at the northeast corner of the four-way signalized intersection of U.S. Route 25 / Augusta Road & State Highway 418 / Old Hundred Road, combining for 23,300 AADT.
» The site offers an easily accessible location with direct access from U.S. Route 25 / Augusta Road (14,500 AADT) and State Highway 418 / Old Hundred Road (8,800 AADT)
» The location is a gateway to Greenville, South Carolina, the county seat of Greenville County and sixth most-populous city in the state (72,095 residents). The property is supported by a population of 356,782 residents living within a 15-mile radius of the site (a 25%increase since 2010)
» Pelzer is included in the Greenville-Anderson-Greer Metropolitan statistical area, which is the largest MSA in the state by population (928,195 residents per the 2020 census). The site is supported by excellent average annual household incomes of $99,070 within a
15-mile radius of the site and projected to increase by 13% in the next four years.
» Projected AHHI and population increases within 5-, 10-, and 15-mile radii over the four five years poise Roots Oil and Pelzer for steady concurrent growth.
» The area is home to numerous major companies, including Michelin, Prisma Health, Bon Secours, and Duke Energy.
» Greenville hosts several colleges and universities within the city limits, including Bob Jones University, Greenville Technical College, and an ECPI University campus. Furthermore, Furman University and North Greenville University are situated in the broader Greenville area

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