Absolute NNN Ground
5416 Platt Springs Rd, Lexington, SC 29073
For Sale
New
Contact for pricing
The lease includes a 10-year initial term and two decades of renewal options.
Property Size5,800 SF
Price / SF$591.21
Days on Market3
Property Features for 5416 Platt Springs Rd
General Information
Standard status
Size
Property subtype
Additional Details
Traffic Count
Tenant in Place
Listing Agency:
Furman Capital Advisors
(864) 235-6855
Listed By:
Robert Schmidt · License SC #81850
(864) 678-5995
Source:
Moodyscre
Added: Nov 13
Changed: Nov 14
Last Checked: Nov 14 at 2:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Furman Capital Advisors
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Investment Insights
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This 5,800-square-foot property is subject to an absolute net ground lease with a new 10-year term. The agreement includes 20 years of option periods and scheduled rent increases of 10% every five years. Rare Hospitality International, Inc., identified as the tenant, is a wholly owned subsidiary of Darden Restaurants.
The property is at 5416 Platt Springs Road in Lexington, South Carolina. Nearby development includes a mixed-use project with a 51,000-square-foot Lowes Foods, national retailers and restaurants, medical uses, and 141 planned townhomes. Reported traffic volumes are approximately 18,500 vehicles per day on Platt Springs Road and more than 27,000 on South Lake Drive.
The property is at 5416 Platt Springs Road in Lexington, South Carolina. Nearby development includes a mixed-use project with a 51,000-square-foot Lowes Foods, national retailers and restaurants, medical uses, and 141 planned townhomes. Reported traffic volumes are approximately 18,500 vehicles per day on Platt Springs Road and more than 27,000 on South Lake Drive.
Key Highlights
- Absolute net ground lease with a new 10‑year term
- 20 years of option periods
- Scheduled 10% rent increases every five years
Property Analytics
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Current Use
Lease Details
18,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
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Business Placement
Demographics for 29073, SC
48,653
Population
20,239
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
81.8 sq mi
ZIP Area
595
Density / Sq Mi
$72,648
Median Household Income
$45,050
Median Earnings
$1,046
Median Rent
$198,100
Median Home Value
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Market
Properties on Market for NNN properties in Lexington County
Frequently Asked Questions
What type of property is this?
NNN property - The lease includes a 10-year initial term and two decades of renewal options.
Where is this nnn property located?
The property is located at 5416 Platt Springs Rd Lexington, SC.
What is the asking price?
The asking price for this property is $3,429,000.
What are key features of this property?
This property features: Absolute net ground lease with a new 10‑year term; 20 years of option periods; Scheduled 10% rent increases every five years
