Truck Stop - Shell, Hot Spot & Hardee's 3883 Cross Anchor Rd 10,954 SF 100% Leased Retail Building Enoree, SC 29335 £4,345,913 (£396.74/SF) 6.25% Net Initial Yield
INVESTMENT HIGHLIGHTS
- LONG TERM LEASE - The subject property has over 8 years remaining on the initial term of the 20-year Absolute NNN Lease.
- EXCELLENT VISIBILITY - The immediate area sees over 27,000 Vehicles Per Day from SC 146 (CROSS ANCHOR RD) TO SC 92 (HIGHWAY 92).
- EXPERIENCED OPERATOR - Operates 41 Hot Spot convenience stores, 13 Hottie’s Kitchens, 7 Subways, 12 Hunt Brothers Pizza, and 1 Hardee's.
- ZERO LANDLORD RESPONSIBILITIES - Absolute NNN Lease. Ideal for Investors not Local to the Market or looking for a "hands o?" investment.
- BONUS DEPRECIATION - Fee simple ownership of a Gas Station provides the landlord the opportunity to use accelerated Bonus Depreciation model.
- STRONG FINANCIALS - The tenant consistently reports their financials, offering transparency and insights into performance.
EXECUTIVE SUMMARY
Prime Net Lease is pleased to offer the opportunity to acquire the fee simple interest in a freestanding truck stop, featuring a Shell Gas Station, Hot Spot Convenience Store and Hardee's Restaurant located in Enoree, South Carolina.
The original franchisee guaranteed lease has over 8 years remaining on its initial term. This absolute NNN lease includes 8.50% rental increases every 5 years during the base term and grants the Tenant Four successive 5-year options to extend the lease.
The Property has excellent visibility and is conveniently situated on Cross Anchor Road off of I-26 where the immediate area sees over 27,000 Vehicles Per Day from SC 146 (CROSS ANCHOR RD) TO SC 92 (HIGHWAY 92). I-26 runs generally east–west from near Landrum, in Spartanburg County, to U.S. Route 17 (US 17), in Charleston, South Carolina. It is also the longest Interstate Highway in South Carolina. This location benefits from having national tenant Hardee's apart of the center. The property takes advantage of traffic generated by visitors driving to the nearby Dollar General store built in 2022, which is just minutes away.
Hot Spot is operated by R.L. Jordan Oil Company. The goal of RL Jordan Oil Company, Hot Spot stores, and our restaurants is to provide our customers with excellent and convenient service, a clean, safe and pleasant environment and quality products at competitive prices for the purpose of building a profitable business. Furthermore, it is the Company’s intention to strive to provide satisfying and rewarding employment believing that satisfied employees will result in satisfied customers.
The original franchisee guaranteed lease has over 8 years remaining on its initial term. This absolute NNN lease includes 8.50% rental increases every 5 years during the base term and grants the Tenant Four successive 5-year options to extend the lease.
The Property has excellent visibility and is conveniently situated on Cross Anchor Road off of I-26 where the immediate area sees over 27,000 Vehicles Per Day from SC 146 (CROSS ANCHOR RD) TO SC 92 (HIGHWAY 92). I-26 runs generally east–west from near Landrum, in Spartanburg County, to U.S. Route 17 (US 17), in Charleston, South Carolina. It is also the longest Interstate Highway in South Carolina. This location benefits from having national tenant Hardee's apart of the center. The property takes advantage of traffic generated by visitors driving to the nearby Dollar General store built in 2022, which is just minutes away.
Hot Spot is operated by R.L. Jordan Oil Company. The goal of RL Jordan Oil Company, Hot Spot stores, and our restaurants is to provide our customers with excellent and convenient service, a clean, safe and pleasant environment and quality products at competitive prices for the purpose of building a profitable business. Furthermore, it is the Company’s intention to strive to provide satisfying and rewarding employment believing that satisfied employees will result in satisfied customers.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
10,954 SF
Building Class
B
Year Built
2000
Price
£4,345,913
Price Per SF
£396.74
Net Initial Yield
6.25%
NOI
£271,620
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.02
Lot Size
10.24 AC
Parking
60 Spaces (5.48 Spaces per 1,000 SF Leased)
Frontage
208 ft on Cross Anchor Rd
AMENITIES
- Motorway Visibility
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 4-50-00-009.03 | Improvements Assessment | £95,611 |
| Land Assessment | £29,740 | Total Assessment | £125,351 |
