| PRICE : | $640,000 |
|---|---|
| CAP RATE: | 6.9% |
| PROPERTY TYPE: | Retail |
| SITE SIZE: | 0.13 Acres |
| BUILDING SIZE: | 2,800 SF |
Highlights
- • “Bite size” NNN lease just renewed and added 3 additional 5-year options showing a strong commitment to this location
- • Adjacent to Walmart Supercenter with 10,200 VPD on West Church Street
- • Located in Columbia, SC MSA, just off Interstate 20 with continued growth of over 7% in a 5-mile radius in the next 5 years
- • Many nearby national retailers including Starbucks, O’Reilly, Walgreens, Taco Bell, Arby’s, and Sonic
- • Corporate guaranteed by Savannah, GA based TMX Finance, with over 900 locations in 12 states
Description
This single tenant net lease investment property features a NNN, corporate guaranteed lease with Savannah, GA headquartered TitleMax. The term was recently extended through December 31, 2027 with additional renewal options showing a strong commitment to this location. Effective January 1, 2023, the NOI increased to $44,400 annually with three 5 year options.
The all brick ± 2,800 SF building was renovated in 2013 for TitleMax. It sits on a ± 0.13 acre lot and is adjacent to a Walmart Supercenter. Nearby traffic counts average 10,200 VPD. Other neighboring retailers include Starbucks, O'Reilly Auto Parts, Sonic Drive-In, and Taco Bell.
Batesburg-Leesburg in Lexington County is part of the Columbia MSA. Downtown Columbia is 33 miles east of the Subject. The population within a 5 mile radius of is 10,852 with an average household income of $61,283. The area has projected growth of over 7% in the next 5 years.
This is a great “bite-size” NNN offering with a corporate guaranty from TMX Finance, one of the largest personal financing and title loan companies in the US, operating over 900 locations title in 12 states. It is value priced at $640,000 or a 6.9% cap rate.
