For Sale
$1,374,000

1851 State RdSummerville, SC 29486

NNN Ground Lease Auto Shop Investment

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 1,425-square-foot Take 5 Oil Change located in Summerville, South Carolina. Built in 2023, this property sits on a 0.67-acre lot with excellent visibility on State Road, boasting 20,000 vehicles per day. The property features a 15-year absolute NNN ground lease with a 10% rent increase every five years, providing strong, predictable cash flow. The current lease has 14.5 years remaining, expiring December 1, 2038. The property benefits from a prime location between two large master-planned communities, Nexton and Cane Bay Plantation, with over 40,000 new homes. This high-growth area also boasts a high average household income ($85,399+) within a one-mile radius and is conveniently located near major retailers such as Chick-fil-A, McDonald's, Starbucks, and more. The strong tenant, Take 5 Oil Change, is a successful and growing multi-unit operator, further enhancing the investment's stability. The property's Net Operating Income (NOI) is $85,869, resulting in a 6.25% cap rate and an asking price of $1,374,000 ($964.21 per square foot). The property's proximity to Cane Bay High School (2,500+ students) and its location in the rapidly growing Berkeley County (one of the fastest-growing counties in the US) contribute to its long-term value. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a thriving market.

Highlights

  • Brand new construction with a 15-year absolute NNN ground lease.
  • Ten-unit guarantee from a successful, growing multi-unit operator, featuring 10% rent increases every five years throughout the initial term and option periods.
  • 0.67-acre lot with high visibility frontage on a state road (20,000 vehicles per day), situated between two large master-planned communities (Nexton and Cane Bay Plantation) with over 40,000 new homes.
  • Excellent location near a top-performing Publix (1.4 million annual customer visits), along with other national retailers including Chick-fil-A, McDonald's, Starbucks, and more, and surrounded by significant new residential and commercial development, including Harris Teeter, Walmart, and Lowe's.
  • Strong demographics, including an average household income exceeding $85,399 within a one-mile radius, proximity to Cane Bay High School (2,500+ students), and location in Summerville, a rapidly growing Charleston suburb within Berkeley County—one of the fastest-growing counties in the US.
  • Convenient access to Charleston International Airport (23 miles) and Downtown Charleston (30 miles), situated in a region growing three times faster than the national average.

Property Details for 1851 State Rd

Property type
Retail properties, Auto shops
Square Feet
1,425 SF
Year Built
2023
Buildings
1
Lot Size (sq. ft)
29,185 SF

Location Insight

City
Summerville
County
Berkeley
State
South Carolina
Latitude
33.1112028
Longitude
-80.1332522
1851 State Rd, Summerville, South Carolina

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1851 State Rd
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