For Sale
$10,306,185

519 Main StNew Ellenton, SC 29809

Two Gas Stations, NNN Lease, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents the fee simple ownership of two thriving, single-tenant convenience stores and gas stations operating under the Pops Mart Fuels brand in South Carolina. Located in New Ellenton (519 Main St N, 29809) and Barnwell (10354 Dunbarton Blvd, 29812), these properties boast a combined 4,960 square feet on 3.24 acres of land. The properties, built in 1992 and 2000 respectively, benefit from high visibility and strong traffic counts, serving as essential fuel and convenience hubs within their communities. Both locations are strategically positioned to capitalize on continued local population growth. The properties are offered as a portfolio with a combined Net Operating Income (NOI) of $669,902, representing a 6.50% cap rate on the $10,306,185 asking price. Each property features a long-term, absolute NNN lease with Pops Mart Fuels, a growing regional operator, extending through December 31, 2043, with a remaining term of approximately 19.1 years. The leases include annual rent escalations of 1.5%, providing built-in rental growth. Property #1 in New Ellenton comprises 2,160 square feet on 2.09 acres, while Property #2 in Barnwell offers 2,800 square feet on 1.15 acres. The lease structure includes options for renewal, with one 10-year option available. This portfolio offers a stable, passive income stream with significant upside potential, shielded from many macroeconomic fluctuations, and eligible for bonus depreciation. The properties are currently 100% occupied.

Highlights

  • Fee simple ownership of two Pops Mart Fuels convenience stores and gas stations in South Carolina.
  • Long-term, absolute NNN leases with Pops Mart Fuels, expiring December 31, 2043 (approx. 19.1 years remaining).
  • Combined 4,960 square feet on 3.24 acres, with annual 1.5% rent escalations.
  • $10,306,185 asking price with a 6.50% cap rate and $669,902 NOI.
  • Properties benefit from high visibility, strong traffic counts, and are located in growing areas.
  • No early termination or kick-out clauses; one 10-year renewal option available.

Property Details for 519 Main St

Property type
Retail properties, Grocery and convenience stores
Square Feet
4,960 SF
Year Built
1992
Buildings
2
Lot Size (sq. ft)
141,134 SF
Units
2

Location Insight

City
New Ellenton
County
Aiken
State
South Carolina
Latitude
33.4255567
Longitude
-81.6860615
519 Main St, New Ellenton, South Carolina

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519 Main St
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