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326 John Dodd Rd

3,000 SF Retail Building Spartanburg, SC 29303 £2,679,545 (£893/SF) 6% Net Initial Yield

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Investment Highlights

Brand-new build, retail investment opportunity with a long-term lease held by Bojangles.
Absolute NNN lease with no landlord responsibilities.
Strategically located with immediate access and visibility to the heavily trafficked Interstate 26.

Strong guarantee by the franchisee, BOJ of WNC LLC, the largest owning 110 locations.
Bojangles holds a 20-year lease with escalations of 7.5% every five years, and five options to renew with escalations.

Executive Summary

326 John Dodd Road presents an excellent opportunity to own a newly constructed retail property with a booming fast-food tenant. This 3,000-square-foot, newly constructed Bojangles restaurant is part of the largest franchisee owning 110 Bojangles throughout the United States. Bojangles holds a 20-year lease with a rent commencement date of October 2024 with escalations of 7.5% every five years, and five five-year options to renew with escalations. With an absolute triple net lease, there are no landlord responsibilities. A strong guarantee by the franchisee, BOJ of WNC LLC.

Located directly off Interstate 26 near Asheville Highway/Highway 176 allows for heavy traffic and exposure from travelers just passing through and daily drivers. 326 John Dodd Road is situated halfway between Charlotte, North Carolina, and Atlanta, Georgia, providing superior access and visibility to over 8,346 daily drivers along John Dodd Road and over 38,305 along Interstate 26. Nearby national retailers include Circle K, Dollar General, Quik Trip, and Waffle House.

Spartanburg, South Carolina, is quaint and traditional with excellent transportation systems and a business-friendly environment. This Southern city offers a very liquid investment market, characterized by heavy trading, and the market proved to be yet again this past year. Spartanburg is a mid-sized retail market, desirable due to favorable tax rates, market accessibility, and workforce quality and availability. 326 John Dodd Road is primed to offer an ideal investment opportunity.

Sale Flyer

More Attachments

John Dodd Road Bojangles

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

3,000 SF

Building Class

Year Built

2024

Price

£2,679,545

Price Per SF

£893

Net Initial Yield

NOI

£160,773

Tenancy

Single

Number of Floors

Building FAR

0.05

Land Acres

1.45 AC

Zoning

unzoned - unzoned

Parking

45 Spaces (15 Spaces per 1,000 SF Leased)

Amenities

Corner Lot

Signage

Drive Thru

1 of 1

aerial
map
traffic

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image1

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image2

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image3

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image4

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image5

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image6

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image7

326 John Dodd Rd, Spartanburg, SC - aerial map view - Image8

Upper Spartanburg County includes some of the Spartanburg area’s prime recreational areas as well as fast-growing suburbs such as Lyman and Inman. Interstate 26, which connects the Upstate South Carolina area with vacation spots such as Tryon and Asheville, North Carolina, runs through Upper Spartanburg County, carrying several thousand travelers through the area each year.

Retail development has followed new residential construction along key transportation nodes such as U.S. Highway 176 to the northwest and U.S. 29 to the south. Along Interstate 26, freestanding retail projects geared toward travelers have grown along interchanges. An additional retail node is along S.C. Highway 9 in the northeastern corner of Spartanburg County. There, Lake Bowen and the shoreside Anchor Park draw boaters and anglers throughout the year.

While Upper Spartanburg County is one of the least densely populated portions of the Spartanburg region, continued population growth in the region, averaging more than 2% annually, has led to newer, high-end development in areas such as Inman and neighboring Boiling Springs. Neighborhoods just north of Boiling Springs are seeing strong increases in buying power, and lakefront subdivisions along Lake Bowen have seen rapid appreciation in values. As job and population growth continue in Upstate South Carolina, spending power in Upper Spartanburg County is likely to benefit.

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.

1 Mile

3 Mile

5 Mile

15 min drive

2024 Population

2,539

26,437

74,056

169,329

2029 Population

2,851

29,822

83,553

191,199

2024-2029 Projected Population Growth

12.3%

12.8%

12.9%

Median Age

35.7

37.0

36.3

36.8

College Degree + Higher

16%

21%

15%

Daytime Employees

1,109

8,521

28,251

84,594

Total Businesses

495

2,639

8,697

Average Household Income

$58,914

$79,166

$74,070

$73,820

Median Household Income

$47,022

$64,216

$58,308

$56,342

Total Consumer Spending

$25.4M

$298.4M

$800.2M

$1.8B

2024 Households

967

9,731

27,498

64,749

Average Home Value

$201,331

$231,042

$212,666

$224,504

$ values in USD

Nearby Amenities

Retail
Circle K	Convenience Market	3 min walk
Camping World	Sporting Goods	5 min walk
Amazon	Other Retail	13 min walk
Sunbelt Rentals	Rental Shop	17 min walk

Hotels
Red Roof Inn	44 rooms 4 min drive
Quality Inn	50 rooms 4 min drive
Days Inn	80 rooms 4 min drive
Four Points by Sheraton	200 rooms 8 min drive
Tru by Hilton	98 rooms 9 min drive

PROPERTY TAXES

Parcel Numbers	Multiple 2-50-13-001.01 2-50-13-001.02 2-50-13-001.00 2-50-13-001.03	Improvements Assessment	£3,445
Land Assessment	£10,058	Total Assessment	£13,503

PROPERTY TAXES

Parcel Numbers

Multiple

2-50-13-001.01
2-50-13-001.02
2-50-13-001.00
2-50-13-001.03

Land Assessment

£10,058

Improvements Assessment

£3,445

Total Assessment

£13,503

Sale Advisors

(864) 706-0189

Contact

Andy Hayes, Executive Vice President/Principal

(864) 706-0189

Contact

After graduating from Clemson University in 1966 Andy spent the following 6 years with an environmental and geotechnical engineering firm. During this time he worked with commercial real estate developers and brokers to find solutions for sites with environmental and geotechnical problems. In 2002 he brought his experience to Spencer/Hines where he became a licensed real estate agent focusing on sales, leasing and development.
2007 CoStar Power Broker - Office Leasing Volume
2008 CoStar Power Broker - Sales Transaction Volume
2008 CoStar Power Broker - Retail Transaction Volume
2009 CoStar Power Broker - Retail Leasing Transaction Volume
2009 Spencer Hines/Properties Agent of the Year
2010 Spencer Hines/Properties Agent of the Year

(864) 583-1001

Contact

Ben Hines, President/Co-Owner

(864) 583-1001

Contact

Ben and his longtime friend, Skip Corn, formed one of the first full-service commercial real estate companies in Spartanburg, Corn/Hines Investments in 1986. After Lynn spencer and Ben joined forces in 1993, Spencer/Hines Properties exploded with the changing upstate of South Carolina and allowed Spencer/Hines to capitalize on a dynamic market with a substantial market share of Commercial Real Estate. Ben is sought after with his knowledge, expertise and integrity by clients.
Please contact Ben on his private, direct line at (864) 542-4777 and allow him to help you in your commercial real estate needs. Whether representation is needed as a buyer or seller’s representative, or consulting as a development partner, or as a confidential liason in a tedious transaction, Ben is poised to help. See why others have chosen Ben to assist them - you’ll be glad you did!