North Charleston, SC - Top Golf

5000 Top Golf Way, Charleston, SC

$39,540,000

Price

6%

Cap Rate

$2,372,417

NOI

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Overview
Cap Rate
6%
NOI
$2,372,417
Building Size
48,000 sqft
Lot Area
10.05 acres
Description

• 19+ Years remaining on the initial 20-year lease
• Topgolf N. Charleston’s lease is corporately guaranteed by Topgolf International, Inc.
• In October 2020, Topgolf was acquired by Callaway Golf Co. (NYSE: ELY) in an all-stock deal that values Topgolf net worth of $3.63 Billion as of July 19, 2023
• There are 4 (5-year) in place options to extend the lease, generating a potential 40-year occupancy
• The lease boasts 10% rental increases every 5 years, including each option to extend

• Tanger Outlets is Charleston’s top retail destination with over 90 brand-name stores
• National credit tenants in the immediate trade area include Chick-fil-A, Buffalo Wild Wings, Nike Factory Store, Sam’s Club, Walmart Supercenter and many more
• Topgolf is located off both I-26 (105,900 VPD) and I-526 (86,300 VPD)
• Charleston International Airport is South Carolina’s largest and busiest airport, located directly across I-526

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Listing ID: a288X000002m1vyQAA
Location
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