Elgin, SC - Firehouse Subs

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Firehouse investment property located in Elgin, South Carolina. The tenant recently signed a brand new 15-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5-years throughout the initial term and at the beginning of each option period, 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 a passive investor.

The Firehouse is located near the signalized, hard corner intersection of Spears Creek Church Rd and Interstate 20 combining to average 79,200 vehicles passing by daily. Spear Creek Church Rd, is a major retail thoroughfare serving the city of Elgin. The Firehouse is located within 5-miles from the Village at Sandhill, a 1,000,000+ square foot shopping mall with many national/credit tenants, including a Belk, Acadamy Sports + Outdoors, JCPenny, Ulta Beauty, Red Robin, Express Oil Change, Men’s Wearhouse, American Eagle, Five Guys, and many more. The asset is adjacent to a Burger King, and a Dollar General. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Target, Best Buy, Kohl’s, Lowe’s Home Improvement, Hobby Lobby, Sam’s Club, Publix Super Market, The Home Depot, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 66,319 and 17,775 employees with an average household income of $110,266.