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Taco Bell Ground Lease, Sumter, SC

Taco Bell Ground Lease, Sumter, SC


Investment Summary

Price $1,740,000
Cap Rate
NOI
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 Closed
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

SOLD

» 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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