7602 Warren H Abernathy HwySpartanburg, SC 29301
- Retail properties
- 3,566 SF
Property Details for 7602 Warren H Abernathy Hwy
- Year built
- 1988
- Lot size
- 0.69 AC
- Property size (Sq ft)
- 3,566 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
Spartanburg, SC Applebee's: A 3,566 sq ft, single-tenant, absolute NNN leased restaurant property offering a strong 6.60% cap rate and significant lease term remaining (10.1 years). Built in 1988 and renovated in 2005, this property sits on a 0.69-acre lot with 46 parking spaces. The franchisee, a top Applebee's operator with 170+ units, recently extended the lease demonstrating long-term commitment. The lease includes 10% rent bumps on 1/1/30 and in each of two five-year option periods. Located in a high-traffic area with numerous national retailers nearby, including Target, Costco, Home Depot, and more. The property boasts a Net Operating Income (NOI) of $190,000 and an asking price of $2,879,000. The property's strong sales data is available upon request. This is a zero-landlord-responsibility investment opportunity with exceptional potential.
Location Insight
- City
- Spartanburg
- County
- Spartanburg
- State
- South Carolina
- Latitude
- 34.9362
- Longitude
- -82.0015
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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