297 Lancaster BypLancaster, SC 29720

Property Details for 297 Lancaster Byp

Year built

2006

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

257.00 AC

Property size (Sq ft)

3,509 SF

Zone code

CITY

Property type

Retail properties

Property subtype

Drive through restaurants

APN

0068A-0A-001.00

APU

0068A0A00100

Description

This exceptional investment opportunity presents a fee-simple ownership of a Hardee's restaurant located at 297 Lancaster Bypass E, Lancaster, SC 29720. The property boasts a 3,472 square foot building situated on a 1.28-acre lot. The property benefits from a highly visible location at the signalized intersection of Clinton Avenue and Lancaster Bypass East (US Route 521), a primary commercial and commuter corridor with over 29,100 vehicles passing daily. The Hardee's lease is an absolute NNN, corporate-guaranteed lease with zero landlord responsibilities, offering significant passive income potential. The current lease commenced February 7, 2012, and expires February 28, 2032, with a remaining term of 7.3 years followed by four 5-year renewal options. Rent increases are structured with a 10% bump every five years, providing a hedge against inflation. The property's strong location is supported by a robust retail environment, including nearby national retailers like Walmart, CVS, and numerous restaurants. The surrounding area has a high population density, with over 18,400 people within a 3-mile radius and an average household income exceeding $66,918. The property's current Net Operating Income (NOI) is $151,322, yielding a 7.00% cap rate, making it an attractive investment for passive investors seeking strong returns and long-term stability. The asking price is $2,161,742. This single-tenant, single-story building offers a secure and profitable investment opportunity in a thriving South Carolina market.

Location Insight

City

Lancaster

County

Lancaster

State

South Carolina

Latitude

34.7343

Longitude

-80.7692

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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