3883 Cross Anchor RdEnoree, SC 29335

Property Details for 3883 Cross Anchor Rd

Year built

2000

Construction

CONCRETE BLOCKS

Lot size

10.24 AC

Property size (Sq ft)

10,954 SF

Property type

Retail properties

Property subtype

Gas stations

APN

4-5000-00903

APU

4500000903

Description

This exceptional investment opportunity presents a fee-simple interest in a 10,954-square-foot, single-story truck stop located at 3883 Cross Anchor Rd, Enoree, SC 29335. The property, built in 2000, sits on a 10.24-acre lot and boasts 60 parking spaces, 18 gas pumps, and a prime location on Cross Anchor Road, benefiting from over 27,000 vehicles per day. The property features a Shell gas station, a Hot Spot convenience store, and a Hardee's restaurant, all operating under a single, absolute NNN lease with a strong franchisee tenant, R.L. Jordan Oil Company. The current lease, commencing March 22, 2013, has a remaining term of 8.4 years, with four, five-year options to extend. Rent increases of 8.5% every five years provide inflation protection. The property generates a substantial net operating income (NOI) of $360,525, resulting in a 6.25% cap rate. The asking price is $5,768,400, or $526.60 per square foot. This strategically positioned property offers significant long-term value and minimal landlord responsibilities, making it an ideal investment for those seeking a passive income stream with built-in growth potential. The property's exclusive location, with no competing gas stations in the immediate vicinity, further enhances its investment appeal. The tenant's consistent financial reporting provides transparency and insights into the property's performance. The property's status as a gas station also offers potential bonus depreciation benefits.

• CAP approach

  CAP return

  Valuation

  6%

  $3,109,873

  6.5%

  $2,870,652

  7%

  $2,665,605

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,272,644

  Geo Method

  $2,272,644

• Alternative Use

  Use

  Valuation

  Residential

  $2,421,502

  Hospitality

  $2,218,083

  Educational

  $1,845,419

  Medical

  $1,908,886

  Retail

  $2,870,652

Location Insight

City

Enoree

County

Spartanburg

State

South Carolina

Latitude

34.6993

Longitude

-81.9385

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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