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Taco Bell Ground Lease, Sumter, SC

Taco Bell Ground Lease, Sumter, SC


Investment Summary

Price $1,834,0000
Cap Rate 4.50%
NOI $82,500
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2023
Building Size 2,340 SF
Lot Size ±1.76 Acres (76,666 SF)
Status Available
Lead Brokers Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

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

Investment Highlights

15-YEAR ABSOLUTE NNN GROUND LEASE TO ICONIC QSR TENANT
» 15-year absolute NNN ground lease to an iconic tenant
» No landlord management, ideal for an out-of-area investor
» 10% fixed rental increases every five years
» Leased to Bell Carolina LLC., the third-largest Taco Bell franchisee, operating 282 restaurants across 9 states
» Bell Carolina LLC is part of Flynn Restaurant Group, the largest restaurant franchisee in the U.S.
» Taco Bell serves more than 42 million customers each week in the U.S., with annual sales projected to reach $15 billion by the end of 2022
» High-quality 2023 construction built to the latest Taco Bell prototype including a drive-thru for added customer convenience

NEAR LARGE SUMTER RETAILERS, SCHOOLS, AND COMMUNITY HUBS
» Prominent location along McCray’s Mill Road with access to 34,100 combined vehicles per day near the Pinewood Road signalized intersection
» Surrounded by notable tenants such as Walmart Neighborhood Market, Walgreens, Dollar Tree, McDonald’s, Sonic Drive-In, Arby’s, Zaxby’s Chicken Fingers & Buffalo Wings, and more
» Near highly attended schools, including Sumter High School (2,299 students), Central
Carolina Technical College (2,192 students), and University of South Carolina-Sumter (1,300 students)
» Three miles from Prisma Health Tuomey Hospital, one of Sumter’s largest employers (283 beds, 1,658 employees)

HIGH-INCOME LOCATION NEAR SHAW AIR FORCE BASE
» 62,963 residents live within five miles of the property
» Average annual household income of $88,950 within a one-mile radius (projected to increase 18% by 2027)
» 10.7 miles from Shaw Air Force Base (7,140 active duty, 14,000 family members, 730 civilians)
» Beneficial proximity to Sumter Airport and Columbia Metropolitan Airport, the main commercial airport for Columbia and the Midlands region of South Carolina
» Gateway to Downtown Columbia, the capitol and second-largest city in South Carolina (population 829,470)

Property Description

» This Taco Bell is located along McCray’s Mill Road with access to 34,100 combined vehicles per day near the Pinewood Road signalized intersection
» The property is surrounded by notable tenants such as Walmart Neighborhood Market, Walgreens, Dollar Tree, McDonald’s, Sonic Drive-In, Arby’s, Zaxby’s Chicken Fingers & Buffalo Wings, and more
» The site is near highly attended area schools, including Sumter High School (2,299 students), Central Carolina Technical College (2,192 students), and University of South Carolina-Sumter (1,300 students)
» The property is three miles from Prisma Health Tuomey Hospital (283 beds) and 10.7 miles from Shaw Air Force Base (7,140 active duty, 14,000 family members, 730 civilians)
» 62,963 residents live within a five-mile radius with an average annual household income of$88,950 within one mile, providing a stable customer base for the site
» The average annual household income is projected to increase within 1-, 3-, and 5-miles by 2027, poising Taco Bell and Sumter for steady concurrent growth
» The location maintains beneficial proximity to Sumter Airport and Columbia Metropolitan Airport, the main commercial airport for Columbia and the Midlands region of South Carolina

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