Net Lease Investment Opportunity | 8% Cap Rate

Highlights:

• Rare 10-year NNN lease at an 8% cap rate
• Well-built, former Family Dollar on a signalized corner with over 12,100 VPD
• Unique Hispanic-themed restaurant, grocery and retail concept attracting customers from as far away as Columbia and Charleston
• Tenant invested over $500,000 in up-fitting improvements and is receiving rave reviews
• Complementary retail trade area with nearby Walmart Neighborhood Store, Dollar General, Aaron Rents, Walgreen’s and more
• Area demographics of over 34K within 5 miles and average annual household income of almost $56K
• Lease is personally guaranteed by the owner/operator who owns and operates other successful businesses in Orangeburg
• SC License: #65151

Description:

Migos Mexican Market and Restaurant is a new and innovative concept in Orangeburg, SC. The former Family Dollar, built in 2015 has been repurposed with over $500,000 in tenant improvements to create unique Hispanic-themed grocery, restaurant and retail products. The store opened in March 2023 and has received many 5-star Google rave reviews (as shown on Page 8) with customers coming from as far away as Charleston and Columbia. They are also adding catering to their services and are awaiting their liquor license.

This is a new 10-year NNN lease with 10% rent increases every year of the initial term and priced at a very desirable 8% cap rate. The store is located at a signalized intersection with over 12K VPD. Retailers in the immediate area include Walmart Neighborhood Store, Dollar General and Edisto Village Shopping Center, all very synergistic with Migos. Within 5 miles, the population is over 34K with an average annual household income of over $55K. The lease is personally guaranteed by a prosperous local businessman who also owns a successful nearby industrial business including the land and building.

Orangeburg is located just off Interstate 26, just 45 minutes from Columbia and about 60 minutes from Charleston. It is the county seat of Orangeburg County and renowned as “The Garden City”, with nearby Edisto Memorial Gardens, one of the Top 20 visitor attractions in South Carolina. Orangeburg is also home to two historically black universities - Claflin University and South Carolina State University.

Orangeburg, SC

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