1211 Bypass 25Greenwood, SC 29649

Property Details for 1211 Bypass 25

Year built

2019

Lot size

0.96 AC

Property size (Sq ft)

2,145 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity features a 2,145 square foot Popeyes restaurant with a drive-thru, situated on a 0.96-acre lot in Greenwood, South Carolina. Built in 2019, the property boasts a 20-year absolute NNN lease with a franchisee tenant, offering significant long-term stability. The lease commenced December 26, 2019, and expires December 25, 2039, with over 15 years remaining on the initial term and four 5-year renewal options. Rent increases by 10% every five years, ensuring consistent income growth. The property enjoys exceptional visibility and accessibility, located on Bypass 25 NE, a major thoroughfare with high traffic counts, and benefits from proximity to numerous national retailers including McDonald's, Burger King, CVS, and others. The property's strong location, coupled with the established Popeyes brand and the favorable lease terms, presents a compelling investment opportunity with a 6.00% cap rate and a current NOI of $128,287. The asking price is $2,138,100, translating to $996.78 per square foot. This fee-simple ownership allows for depreciation benefits. The property is a single-story building with excellent access and visibility in a thriving retail corridor. Nearby residential developments further enhance the long-term prospects of this investment.

Location Insight

City

Greenwood

County

Greenwood

State

South Carolina

Latitude

34.2102

Longitude

-82.1486

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