For Sale
$2,862,000

1624 Church StConway, SC 29526

High-performing KFC, strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a 3,270 square foot KFC restaurant located at 1624 Church St, Conway, SC 29526. The property sits on a 1.156-acre lot in a high-traffic retail corridor with excellent visibility on E Hwy 501, boasting daily traffic counts of 26,106 vehicles. The building, constructed in 2017, is a single-story structure with a permitted C zoning classification. This is an absolute NNN net lease with the tenant, FQSR, LLC (the largest KFC franchisee in the U.S.), holding a 20-year lease expiring July 31, 2044, including two 5-year renewal options. Rent increases by 7% every 5 years. The property enjoys 100% occupancy and generates a substantial net operating income (NOI) of $176,000, resulting in a compelling 6.15% cap rate. The location benefits from a strong demographic profile, including a high average household income within a one-mile radius of $80,299. Nearby amenities include major retailers such as Walmart, Lowe's, and Belk, as well as educational institutions like Coastal Carolina University and Horry Georgetown Technical College, and Conway Medical Center. The property's proximity to Tanger Outlets Myrtle Beach further enhances its appeal and potential for continued strong performance. This is a rare opportunity to acquire a well-established, high-performing KFC location with a long-term lease and significant upside potential.

Highlights

  • $2,862,000 asking price for a 3,270 square foot KFC restaurant in Conway, SC.
  • Absolute NNN net lease with a 20-year term expiring July 31, 2044, including two 5-year renewal options.
  • 6.15% cap rate with a $176,000 annual net operating income (NOI).
  • 7% rent bumps every 5 years.
  • Located on a 1.156-acre lot with high traffic counts (26,106 CPD) on E Hwy 501 in a strong retail corridor.

Property Details for 1624 Church St

Property type
Retail properties, Restaurants
Square Feet
3,270 SF
Year Built
2017
Buildings
1
Stories
1
Lot Size (sq. ft)
50,355 SF
Units
1

Location Insight

City
Conway
County
Horry
State
South Carolina
Latitude
33.8476968
Longitude
-79.0659964
1624 Church St, Conway, South Carolina

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1624 Church St
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