400 N Main St - Freestanding FOR SALE


Hemingway, SC 29554
$1,210,000 USD
803-331-8088
400 N Main St, Hemingway, SC for Sale
$1,210,000 USD
Freestanding - FOR SALE
1/8
null | 6.65% Cap Rate

400 N Main St
Hemingway, SC 29554


HIGHLIGHTS

  • Advance Auto store with long term commitment to the area
  • Rent increases 10% every 5 years in Option Periods
  • Corporate Guaranty by Advance Stores Company, Inc.

OVERVIEW

This Advance Auto Parts property presents an attractive net-leased investment opportunity in Hemingway, South Carolina. Built in 2006, the property features a 7,000-square-foot facility on a 1.24-acre parcel with ample parking and strong visibility along North Main Street, the community’s primary thoroughfare. The tenant, Advance Stores Company, Inc., operates under a corporate-guaranteed lease, providing investors with a stable income stream backed by an established, publicly traded company (NYSE: AAP). The lease structure is a NN format, placing roof and structural responsibilities with the landlord, while rent is set at $80,500 annually with 10% escalations every five years during option periods. The lease runs through March 31, 2033, offering approximately seven years of guaranteed initial term and long-term upside via options. Located 50 miles from Myrtle Beach and near regional growth corridors, the property benefits from steady traffic counts of 8,300 VPD and proximity to existing retail operators including Dollar General, CVS, and Subway. With a purchase price of $1,210,000 and a 6.65% cap rate, this asset is well-suited for 1031 exchange buyers and investors seeking credit-backed, income-producing retail in a growth market.

FOR SALE DETAILS

PRICE

$1,210,000 USD

PRICE/SF

$159 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

commercial

APN/PARCEL ID

08-015-115

ASK ABOUT THIS PROPERTY

James Harrison CCIMHarrison Capital AdvisorsMore Info
803-331-8088

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

James Harrison CCIMHarrison Capital AdvisorsMore Info
803-331-8088

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