For Sale
$2,161,742

297 Lancaster BypLancaster, SC 29720

SC QSR, 7% Cap Rate, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a Hardee's restaurant located at 297 Lancaster Bypass E, Lancaster, SC 29720. The property boasts a 3,472 square foot building situated on a 1.28-acre lot. The property benefits from a highly visible location at the signalized intersection of Clinton Avenue and Lancaster Bypass East (US Route 521), a primary commercial and commuter corridor with over 29,100 vehicles passing daily. The Hardee's lease is an absolute NNN, corporate-guaranteed lease with zero landlord responsibilities, offering significant passive income potential. The current lease commenced February 7, 2012, and expires February 28, 2032, with a remaining term of 7.3 years followed by four 5-year renewal options. Rent increases are structured with a 10% bump every five years, providing a hedge against inflation. The property's strong location is supported by a robust retail environment, including nearby national retailers like Walmart, CVS, and numerous restaurants. The surrounding area has a high population density, with over 18,400 people within a 3-mile radius and an average household income exceeding $66,918. The property's current Net Operating Income (NOI) is $151,322, yielding a 7.00% cap rate, making it an attractive investment for passive investors seeking strong returns and long-term stability. The asking price is $2,161,742. This single-tenant, single-story building offers a secure and profitable investment opportunity in a thriving South Carolina market.

Highlights

  • 7+ years remaining on a corporate-guaranteed, absolute NNN lease with four 5-year renewal options; zero landlord responsibilities.
  • 10% rent increases every five years, providing inflation protection.
  • Hardee's, a CKE Restaurants Holdings, Inc. brand, is the tenant; strong national brand recognition.
  • High-traffic location at a signalized intersection (Clinton Ave & Lancaster Bypass E, US Route 521) with over 29,100 vehicles daily; near Walmart, CVS, and other national retailers.
  • Strong demographics: over 18,400 people within a 3-mile radius, average household income exceeding $66,918.
  • 3,472 SF building on a 1.28-acre lot; $2,161,742 asking price, 7.00% cap rate, $151,322 NOI.

Property Details for 297 Lancaster Byp

Property type
Retail properties
Square Feet
3,472 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
55,757 SF
Units
1

Location Insight

City
Lancaster
County
Lancaster
State
South Carolina
Latitude
34.7342105
Longitude
-80.769265
297 Lancaster Byp, Lancaster, South Carolina

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297 Lancaster Byp
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