For Sale
$3,143,000

7801 Warren H Abernathy HwySpartanburg, SC 29301

High-yield, NNN ground lease, 20-year term.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 2,824 square foot convenience store and gas station located at 7801 Warren H Abernathy Hwy, Spartanburg, SC 29301. The property boasts a 20-year lease commencing October 4, 2024, and expiring October 6, 2044, with 4, 5-year renewal options. The tenant, a well-known and established national brand, Murphy Oil USA, occupies the entire space at 100% occupancy, providing a stable and predictable income stream. The property features 12 gas pumps, ensuring high traffic and sales volume. The asking price is $3,143,000, representing a compelling 5.25% cap rate based on a Net Operating Income (NOI) of $165,000. This is an absolute NNN ground lease, meaning zero landlord responsibilities. The property sits on a 1.12-acre lot and benefits from excellent visibility and access, situated along U.S. Highway 29, near major shopping centers, and surrounded by a strong residential consumer base. The property's APN is 6-2007-08200 & 6-2007-08300, and it is zoned ULMO. Built in 2024, this property offers a secure, long-term investment with built-in rental increases. This is a turnkey investment with minimal management requirements.

Highlights

  • $3,143,000 asking price for this retail property.
  • Brand new, 2,824 SF convenience store/gas station with a 20-year lease to Murphy Oil USA, commencing October 4, 2024.
  • 5.25% cap rate with a $165,000 net operating income (NOI).
  • 100% occupancy with a corporate-signed lease featuring scheduled rent increases and four, five-year renewal options.
  • Located on 1.12 acres at 7801 Warren H Abernathy Hwy, Spartanburg, SC 29301, with excellent visibility and access from US Highway 29.
  • Features 12 gas pumps and benefits from a strong tenant presence and nearby shopping centers.

Property Details for 7801 Warren H Abernathy Hwy

Property type
Retail properties, Retail space
Square Feet
2,824 SF
Year Built
2024
Lot Size (sq. ft)
48,787 SF
Units
1

Location Insight

City
Spartanburg
County
Spartanburg
State
South Carolina
Latitude
34.9352875
Longitude
-82.002727
7801 Warren H Abernathy Hwy, Spartanburg, South Carolina

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7801 Warren H Abernathy Hwy
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