Clinton, SC - Hardee's

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, corporate signed, drive-thru equipped, Hardee’s investment property located in Clinton, South Carolina (Greenville MSA). The tenant, Hardee’s Restaurant LLC, recently signed a brand new 5-year lease extension with 2 (5-year) option periods to extend. The lease features CPI increases 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 Hardee’s is strategically located near the on/off ramps to Interstate 26, a major commuter highway that sees over 50,300 vehicles passing by daily. The asset benefits from excellent visibility being located along State Highway 56 (5,700 VPD) and access via multiple points of ingress/egress. The building is equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset enjoys extremely limited competition in the surrounding 5-mile area with the asset being one of only a few food options for travelers along Interstate 26. Nearby national/credit tenants include McDonald’s, Arby’s, Wendy’s, and Shell. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover tenant exposure to the site. The 5-mile trade area is supported by over 12,000 residents with average household incomes of $67,675.