4010 E Palmetto St - Fast Food FOR SALE


Florence, SC 29506
$1,757,000 USD
704-697-1900
4010 E Palmetto St, Florence, SC for Sale
$1,757,000 USD
Fast Food - FOR SALE
1/4
null | 5.75% Cap Rate

4010 E Palmetto St
Florence, SC 29506


HIGHLIGHTS

  • ATTRACTIVE LEASE FUNDAMENTALS WITH HEALTHY RENT-TO-SALES & ANNUAL RENT ESCALATIONS
  • HIGH VISIBILITY ON HARD CORNER OF MAJOR COMMUTER THOROUGHFARE
  • NAME BRAND TENANT

OVERVIEW

ATTRACTIVE LEASE FUNDAMENTALS WITH HEALTHY RENT-TO-SALES - New 20 year Abs. NNN lease - 2.00% rent increases annually - No Landlord Responsibilities - Rent is based off sales, providing low rent-to-sales for healthier operations POSITIONED ON A RETAIL CORRIDOR - 400k SF of retail within a 2 mile radius - 435k SF of industrial space in a 2 mile radius - Nearby retailers include: Food Lion, Bojangles, Burger King, Circle K, O’Reilly Auto Parts NEAR MARKET DRIVERS - Located just 4 miles away from McLeod Medical Park Pavilion - a 3 million SF medical park with over 500 beds and over 15,000 employees - Approximately 6.4 miles away from MUSC Health Florence Medical Center - a health center that is over 500k SF and boasts over 400 beds and over 1.500 employees NAME BRAND TENANT - Wendy’s is ranked in the top 5 quick service restaurants (QSRs) in United States - Over 6,000+ locations in 51 states and 30 countries. - In 2023 The Wendy’s Company had annual revenue of $2.18B with 4.11% growth HIGH VISIBILITY ON HARD CORNER OF MAJOR COMMUTER THOROUGHFARE - Located at a lighted intersection of E. Palmetto St (20,600 VPD) & Freedom Blvd (7,900 VPD) - Directly in front of Sandstone Communities, a 106 home community HEALTHY MICRO-ECONOMY - Florence Ranked #48 out of 384 Metro Areas in the US for Overall Economic Health - Employment rate has increased more than 2% since January 2024 up to 97.4%, South Carolina had the largest increase of any state at 3.5% growth

FOR SALE DETAILS

PRICE

$1,757,000 USD

PRICE/SF

$863 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wendy's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

2.6 AC

LAND SF

113,281 SF

ZONING

Commercial

APN/PARCEL ID

00241-01-024

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
704-697-1900

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David HoppeAtlantic Capital PartnersMore Info
704-697-1900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.