For Sale
$2,444,000

4500 Irby St Effingham, SC 29541

High-return NNN lease, 14+ years remaining.

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional investment opportunity presents a 8,235 square foot auto shop in Effingham, South Carolina, currently leased to Crash Champions, LLC, a nationally recognized brand with over 600 locations. The property boasts a strong 14.3-year remaining lease term (expiring 02/28/2039), commencing March 1st, 2024, with a substantial 2.5% annual rent increase built-in, providing a hedge against inflation. The asking price is $2,444,000, yielding a 6.50% cap rate based on a current Net Operating Income (NOI) of $158,879. This is a Net Lease (NNN) property, minimizing landlord responsibilities to only the foundation. The tenant is responsible for all maintenance, repairs, and replacements, including HVAC, plumbing, electrical, roofing, and landscaping. The property sits on a 1.24-acre lot with 20 parking spaces and enjoys a hard corner location with excellent visibility on S Irby Street (22,060 VPD) and Poor Farm Road. Scheduled for renovations in 2024, the property will be updated to match the corporate prototype, including new paint and signage. This location has operated as a collision shop since the early 2000s, situated in Florence County, SC, within the 10th most populous city in South Carolina. The lease includes three, 5-year renewal options. The property is 100% occupied.

Highlights

  • Corporate lease with Crash Champions, LLC, a national brand with over 600 locations.
  • 14+ year lease remaining (expires 2/28/2039), with 2.5% annual rent increases.
  • High-visibility hard corner location on S Irby Street (22,060 VPD) and Poor Farm Road.
  • Net lease (NNN); landlord responsibility limited to foundation.
  • Tenant responsible for all maintenance, repairs, and replacements.
  • Scheduled 2024 renovations to update to corporate prototype.

Property Details for 4500 Irby St

Property type
Retail properties, Auto shops
Square Feet
8,235 SF
Year Renovated
2024
Buildings
1
Lot Size (sq. ft)
54,014 SF
Units
1

Location Insight

City
Effingham
County
Florence
State
South Carolina
Latitude
34.1003145
Longitude
-79.7788363

FAQs

What type of property is this?
Retail property - High-return NNN lease, 14+ years remaining.
Where is the retail property located?
The property is located at 4500 Irby St Effingham, SC.
What is the asking price?
The asking price for this property is $2,444,000.
What are key features of this property?
This property features: Corporate lease with Crash Champions, LLC, a national brand with over 600 locations.; 14+ year lease remaining (expires 2/28/2039), with 2.5% annual rent increases.; High-visibility hard corner location on S Irby Street (22,060 VPD) and Poor Farm Road.
How can I contact the broker?
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4500 Irby St
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