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2-Tenant Strip Center | NNN Leases 413 Drive in Ln

2,800 SF 100% Leased Retail Building Moncks Corner, SC 29461 £1,208,948 (£432/SF) 6.15% Net Initial Yield

Investment Highlights

  • Excellent Location in Prominent Retail Corridor
  • Thriving Retail Hub
  • NNN Leases with Minimal Landlord Responsibilities
  • Prime Location with High Visibility
  • Stable Investment with low Maintenance
  • Situated in the Charleston MSA, the third largest in the state, the area benefits from the growth of key developments

Executive Summary

This prime retail opportunity features a brand-new two-tenant strip center anchored by Jimmy John’s Sandwiches, strategically located directly in front of a Walmart Supercenter. Flanked by well-known establishments like Verizon and Murphy Oil, this site guarantees high visibility and a steady flow of customer traffic. The center benefits from excellent accessibility, situated just off the busy N US Hwy 52, which sees an impressive daily traffic count of 27,355 vehicles. Surrounded by a diverse array of retailers, including Firehouse Subs, Dollar Tree, and T-Mobile, this thriving retail hub attracts a wide variety of shoppers each day. Additionally, the Charleston MSA—one of the largest in the state—is poised for strategic economic growth, thanks to key developments like the Berkeley County Commerce Park and the Volvo Cars plant, fostering business expansion and job creation in the area.
As a stable investment opportunity, this property is anchored by the established national brand, Jimmy John’s, which has become a household name since its founding in 1983. With over 2,700 locations, 98% of which are franchises, the brand showcases a successful expansion model supported by a robust franchise network. The tenants operate under NNN leases, significantly reducing the landlord's responsibilities and involvement. Jimmy John’s lease includes rental increases every five years and offers four additional five-year renewal options, while the Fish Bowl Ice Cream Shop has a five-year term with annual increases and two renewal options. Recently constructed to meet tenant specifications, the building provides an efficient and tailored operational space, further enhancing its long-term stability and appeal as an investment.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,800 SF
Building Class
B
Year Built
2023
Price
£1,208,948
Price Per SF
£432
Net Initial Yield
6.15%
NOI
£74,350
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.12
Land Acres
0.55 AC
Zoning
C2 - General Commercial
Parking
23 Spaces (8.21 Spaces per 1,000 SF Leased)

Amenities

  • Freeway Visibility
  • Drive Thru
  • Air Conditioning

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Fishbowl Ice Cream Shop
  • Accommodation and Food Services
  • 1,432 SF
  • -
  • NNN
  • -
  • Accommodation and Food Services
  • 1,255 SF
  • -
  • NNN
  • -

They're simple. They're fresh. They're fast. The Jimmy John’s concept has remained largely unchanged since 1983, and today, they're one of America’s fastest-growing restaurant brands. Most importantly, people love their food – rooted in innovation with bold and unexpected sandwich experiences to keep them coming back for more! They've sold franchise units, and they have lots of room to grow their brand.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Fishbowl Ice Cream Shop Accommodation and Food Services 1,432 SF - NNN -
Accommodation and Food Services 1,255 SF - NNN -

Nearby Major Retailers

Kobe Ichiban
Anytime Fitness
Starbucks
Rent-a-center
Woodforest National Bank
Food Lion
Applebee's
Huddle House
Curves
Waffle House

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
123-00-04-120
Land Assessment
£12,616
Improvements Assessment
£56,449
Total Assessment
£69,066
  • Listing ID: 33597629

  • Date on Market: 22/10/2024

  • Last Updated:

  • Address: 413 Drive in Ln, Moncks Corner, SC 29461

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