1004 Richland AveAiken, SC 29801

Property Details for 1004 Richland Ave

Year built

1976

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.78 AC

Property size (Sq ft)

2,134 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

104-19-15-007

APU

1041915007

Description

This exceptional investment opportunity presents a fee-simple ownership of a Wendy's restaurant located at 1004 Richland Ave W, Aiken, SC 29801. The property features a 2,134 square foot, single-story building constructed in 1976 and renovated in 2018, situated on a 0.78-acre lot. The property boasts a prominent location on a highly trafficked thoroughfare, surrounded by other national and regional retailers, including Sonic, KFC, Food Lion, Subway, Taco Bell, CVS, McDonald's, O'Reilly Auto Parts, Bank of America, and a Walmart Supercenter. The area also benefits from several new residential developments, including Eastwood Homes at True Cedar, The Islands by D.R. Horton, and Forrest Bluff by Ivey Homes, adding to the strong potential for future growth. The current lease is an absolute NNN lease with a franchisee tenant, commencing November 30, 2024, and extending for a primary term of 20 years. The lease includes four 5-year renewal options, with attractive 7.5% rent bumps every five years. The property's current Net Operating Income (NOI) is $185,000, resulting in a 5.25% cap rate. The asking price is $3,523,809, translating to a price per square foot of $1,651.27. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment opportunity with significant long-term potential. The University of South Carolina Aiken, Cambridge College, and Aiken Technical College are also nearby. Nearby shopping centers include Kalmia Plaza, Northside Plaza Shopping Center, Centre South Shopping Center, and Villae at Riverwatch Retail Center.

• CAP approach

  CAP return

  Valuation

  6%

  $471,779

  6.5%

  $435,488

  7%

  $404,382

• Comparable approach

  Method

  Valuation

  Relative Method

  $393,488

  Geo Method

  $442,744

• Alternative Use

  Use

  Valuation

  Residential

  $367,350

  Hospitality

  $336,491

  Educational

  $279,957

  Medical

  $289,585

  Retail

  $435,488

Location Insight

City

Aiken

County

Aiken

State

South Carolina

Latitude

33.5655

Longitude

-81.7326

CBSA code

12260

CBSA name

AUGUSTA-RICHMOND COUNTY, GA-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].