Restaurant

Taco Bell NNN Ground Lease

3218 N Hwy 17, Mount Pleasant, SC 29466

Listing Price: $2,800,000

Cap Rate
5.00%
Tenant Name
Taco Bell
Years Remaining On Lease
14.80
Gross SF
2,300
Guarantor
Franchisee Guarantee
Rentable SF
2,300
Price/Gross SF
$1,217.39
Lease Type
NNN Ground Lease
Rent Per Square Feet
$60.87

Investment Overview

Marcus & Millichap is pleased to present for sale a long-term absolute NNN ground lease Taco Bell located in the highly desirable Mount Pleasant, South Carolina submarket. The subject property consists of 1.19 acres of land and a 2,300 square foot single-tenant Taco Bell that was constructed in 2018. With a 15-years of lease term remaining and 10-percent rent increases every five years, this opportunity offers a stable, secure income stream and aggressive rent increases (inflation hedges) in a high growth market. The subject property is a 1.194 acre site and is positioned on an outparcel to a Lowes Home Improvement Center and just across from the Park West and Carolina Park subdivisions. Highway 17 is one of two major roadways in the Mt. Pleasant submarket and traffic counts along this corridor of Hwy 17 are 41,500 VPD. The site also benefits from access to the signalized intersection of Hwy 17 and Morgan’s Point Road and is adjacent to Pinnacle Financial Partners. Additional points of interest and traffic generators within the trade area include Roper St. Francis Hospital (85 beds), Publix, Costco, CVS Pharmacy, and Market at Oakland (Walmart-anchored), Wando High School (2019-2020 Enrollment = 3,997), and numerous elementary and middle schools. Mt. Pleasant Town Centre is just a few miles south of this site on Highway 17. Other notable developments nearby include two newly-constructed single-family subdivisions – Abbey at Park West and Merrill Gardens at Carolina Park.

Investment Highlights

  • Taco Bell Ground Lease | 2,300 SF | 1.19 Acres | 2018 Construction
  • Outparcel to Lowe's Home Improvement | 8-Mile Trade Area and 90,000+ Population
  • JEM Restaurant Group has | 61 Taco Bells and 33 Pizza Huts
  • Triple-Net (NNN) Ground Lease | 15 Years Remain | 10% Increases Every 5-Years
  • 5.52% Average Cap Rate (15 Years)
  • North Highway 17 | 41,500 VPD
  • Nearby Points of Interest: Lowe's Home Improvement, Publix, Walmart, Kohl's, Rober St. Francis Hospital (85 Beds), Costco & More

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

Restaurant

Taco Bell NNN Ground Lease

Listing Price: $2,800,000

Cap Rate
5.00%
Tenant Name
Taco Bell
Years Remaining On Lease
14.80
Gross SF
2,300
Guarantor
Franchisee Guarantee
Rentable SF
2,300
Price/Gross SF
$1,217.39
Lease Type
NNN Ground Lease
Rent Per Square Feet
$60.87

Investment Highlights

  • Taco Bell Ground Lease | 2,300 SF | 1.19 Acres | 2018 Construction
  • Outparcel to Lowe's Home Improvement | 8-Mile Trade Area and 90,000+ Population
  • JEM Restaurant Group has | 61 Taco Bells and 33 Pizza Huts
  • Triple-Net (NNN) Ground Lease | 15 Years Remain | 10% Increases Every 5-Years
  • 5.52% Average Cap Rate (15 Years)
  • North Highway 17 | 41,500 VPD
  • Nearby Points of Interest: Lowe's Home Improvement, Publix, Walmart, Kohl's, Rober St. Francis Hospital (85 Beds), Costco & More

Investment Overview

Marcus & Millichap is pleased to present for sale a long-term absolute NNN ground lease Taco Bell located in the highly desirable Mount Pleasant, South Carolina submarket. The subject property consists of 1.19 acres of land and a 2,300 square foot single-tenant Taco Bell that was constructed in 2018. With a 15-years of lease term remaining and 10-percent rent increases every five years, this opportunity offers a stable, secure income stream and aggressive rent increases (inflation hedges) in a high growth market. The subject property is a 1.194 acre site and is positioned on an outparcel to a Lowes Home Improvement Center and just across from the Park West and Carolina Park subdivisions. Highway 17 is one of two major roadways in the Mt. Pleasant submarket and traffic counts along this corridor of Hwy 17 are 41,500 VPD. The site also benefits from access to the signalized intersection of Hwy 17 and Morgan’s Point Road and is adjacent to Pinnacle Financial Partners. Additional points of interest and traffic generators within the trade area include Roper St. Francis Hospital (85 beds), Publix, Costco, CVS Pharmacy, and Market at Oakland (Walmart-anchored), Wando High School (2019-2020 Enrollment = 3,997), and numerous elementary and middle schools. Mt. Pleasant Town Centre is just a few miles south of this site on Highway 17. Other notable developments nearby include two newly-constructed single-family subdivisions – Abbey at Park West and Merrill Gardens at Carolina Park.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

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