Investment Overview

The subject property is a freestanding Hardee’s restaurant located in Goose Creek, a suburb of Charleston, South Carolina. There are over 9 years remaining on the initial 20 year absolute triple net lease. This corporate backed lease offers attractive 10% fixed rent increases every 5 years. The Hardee’s chain was founded in 1960 and currently operates ±1,815 locations in 30 states. They are controlled by CKE Restaurants that also operates the Carl’s Jr. chain and combined operate over 3,800 restaurants across 44 states and 43 countries. The U.S. Naval Weapons Station-Joint Base Charleston is situated just down the street from this Hardee’s and consists of over 17,000 acres. The current work force (military/civil service/contractors) numbers more than 11,000 along with an additional 3,600 people living on-base family housing. This base is an important naval storage center and transportation hub for the military, as well as a training center. It is reported that there are 43,267 residents within a 3-mile radius of the subject property with an Average Household Income of $77,861 within the same radius