Columbia, SC - Southeast Auto Care
$1,217,000
1613-1619 Leesburg Road, Columbia, SC 29209
6.9
Cap Rate
84,007
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN+ leased, Southeast Auto Care investment property located in Columbia, South Carolina. The tenant, Southeast Auto Care, LLC has 19 years remaining on their lease, demonstrating their commitment to the site. The lease features 2.5% annual rental increases throughout the initial term, steadily growing NOI and hedging against inflation. The lease is NN+ with minimal landlord responsibilities making it an ideal, low management investment opportunity for an out of state investor.
Southeast Auto Care is located along Leesburg Road/State Highway 262 (26,400 VPD), with strong regional access via Interstate 77 (91,600 VPD). Leesburg Road is one of the primary commercial thoroughfares serving southeast Columbia. The asset is immediately adjacent to Citgo and Shell fuel stations and is positioned within an established automotive cluster featuring NAPA Auto Parts, AutoZone, O’Reilly Auto Parts, Mavis Discount Tire, Gerber Collision & Glass and a Ford dealership, reinforcing destination auto-service traffic along the corridor. In addition, the property is minutes from Landmark Square, a multi-phase retail center featuring Ross Dress for Less, Burlington, Ollie’s Bargain Outlet, Planet Fitness, Hibbett Sports and Harbor Freight. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Walmart Supercenter, Lowe’s, Target, Whole Foods Market, ALDI, Food Lion, Tractor Supply, CVS and Walgreens, further increasing consumer traffic to the site. The subject property is in close proximity to Fort Jackson, the U.S. Army’s largest basic training installation, as well as the William Jennings Bryan Dorn VA Medical Center (216 beds), the University of South Carolina School of Medicine and Midlands Technical College (10,000+ students). The 5-mile trade area is supported by a population of nearly 100,000 with an average household income of $120,040.
Location
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