Investment Summary
Price | $1,010,000 |
Cap Rate | |
NOI | |
Lease Term | 20 Years |
Lease Type | |
Rental Increases | 10% Rental Increases Every 5 Years |
Year Built | 2017 |
Building Size | 2,053 SF |
Lot Size | 0.93 Acres (40,511 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
LONG-TERM ABSOLUTE NNN GROUND LEASE
» 20-year NNN ground lease guaranteed by the second largest Taco Bell franchisee
» 10% rental increases every five years, providing a hedge against inflation
» Absolutely no landlord management, providing an ideal investment for an outof- area investor
HIGH-TRAFFIC LOCATION IN LARGE RETAIL CENTER
» Excellent access and visibility to 21,800 vehicles per day on Dutch Fork Road
» Outparcel to large retail center, anchored by Walmart Supercenter and featuring Dollar Tree, GNC, Verizon, Pizza Hut, and other national tenants
» Close proximity to Interstate 26 (52,300 AADT), the primary route to downtown Columbia
PRIME LOCATION IN AFFLUENT COLUMBIA SUBURB
» Average household income over $102,000 within a three-mile radius
» Less than a mile from Lake Murray, a major recreational area in the region
» Convenient access to downtown Columbia, the University of South Carolina, Fort Jackson, and Columbia Metropolitan Airport
NEW 2017 CONSTRUCTION
» 2017 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Built by tenant at tenant’s expense, demonstration long-term commitment to the location
» New building, limiting near-term deferred maintenance or capital costs
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is located on Dutch Fork Road, with excellent access and visibility to 21,800 vehicles per day. The property is outparcel to a large shopping center anchored by Walmart Supercenter and featuring major national tenants, including Dollar Tree, GNC, Verizon, Shoe Dept., Little Caesars, and others. Dutch Fork Road is a retail corridor, and the property is surrounded by notable retailers, such as Tractor Supply Company, McDonald’s, Walgreens, CVS, Subway, and Chick-fil-A. Major retail districts, like downtown Irmo and the Columbiana Centre regional mall, are just a few miles from the property.
The property is less than a mile from the shore of Lake Murray. Lake Murray is a focal point of the region, with many different communities tied to the lake. Additionally, the lake has become a recreational attraction, with fishing and boating being popular activities. The site also benefits from its close proximity to Interstate 26, the main route connecting the northwest region of the Columbia MSA to downtown Columbia. As a result, the property is within a short drive of important landmarks and business centers, including Columbia’s central business district, the University of South Carolina, Fort Jackson, and the Columbia Metropolitan Airport.