For Sale
$1,075,045

973 Chesterfield HwyCheraw, SC 29520

Profitable SC Restaurant, 6.75% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents the chance to acquire Coach's Cheraw, a well-established restaurant located at 973 Chesterfield Hwy, Cheraw, SC 29520. The property encompasses 4,950 square feet on a 1.62-acre lot and is currently operating under a Net Lease (NNN) agreement with a remaining term of approximately 1.6 years. The lease commenced July 1, 2021, and expires June 30, 2026, with two 5-year renewal options and a 3% annual rent increase. The current asking price is $1,075,045, reflecting a price per square foot of $217.18 and a compelling 6.75% capitalization rate based on a Net Operating Income (NOI) of $72,565. The tenant has no credit rating. The property boasts a prime location in a high-traffic area of Cheraw, surrounded by thriving businesses, ensuring consistent customer flow. The restaurant itself is known for its excellent food and welcoming atmosphere, establishing a strong reputation within the community. The well-maintained building includes a fully equipped kitchen, a spacious dining area, a bar, and ample parking. This turnkey operation offers a unique blend of established success and significant growth potential. The property's strong financials, desirable location, and existing tenant base make it an attractive investment for discerning buyers seeking a stable and profitable addition to their portfolio.

Highlights

  • $1,075,045 asking price for a 4,950 SF restaurant in Cheraw, SC.
  • NNN lease, single tenant occupancy.
  • 6.75% cap rate with a $72,565 NOI.
  • 5-year lease with two 5-year options; 1.6 years remaining.
  • $217.18/SF; 3% annual rent increases.
  • 1.62-acre lot; Broker co-op available.

Property Details for 973 Chesterfield Hwy

Property type
Retail properties, Restaurants
Square Feet
4,950 SF
Lot Size (sq. ft)
70,567 SF

Location Insight

City
Cheraw
County
Chesterfield
State
South Carolina
Latitude
34.698114156877
Longitude
-79.928382721197
973 Chesterfield Hwy, Cheraw, South Carolina

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973 Chesterfield Hwy
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