214 Cedar Springs Rd - Fast Food FOR SALE


Spartanburg, SC 29302
$4,074,000 USD
949-506-2009
214 Cedar Springs Rd, Spartanburg, SC for Sale
$4,074,000 USD
Fast Food - FOR SALE
1/13
null | 6% Cap Rate

214 Cedar Springs Rd
Spartanburg, SC 29302


HIGHLIGHTS

  • 20-Year Absolute NNN Lease | Strong Franchisee Guaranty
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • High-Visibility Location | Strong Regional Connectivity
  • Outparcel to Shopping Center | Surrounded by National Tenants
  • Strong Demographics In 5/3-Mile Trade Area
  • Brand Recognition | Established Southeast QSR Concept

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Zaxby’s investment property located in Spartanburg, South Carolina. The tenant, ZaxBax Spartanburg, LLC signed a 20 year lease with over 19 years remaining. The lease features 1.5% annual rental increases throughout the term steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

FOR SALE DETAILS

PRICE

$4,074,000 USD

PRICE/SF

$2,023 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Zaxby's | 20yr Abs NNN | 1.5% Annual Bumps

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

B-1

APN/PARCEL ID

7-21-02-010.01

ASK ABOUT THIS PROPERTY

Calvin ShortSRS National Net LeaseMore Info
949-506-2009

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Calvin ShortSRS National Net LeaseMore Info
949-506-2009

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.