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    7602 Warren H Abernathy Hwy Spartanburg, SC 29301

    Sponsored
    For Sale
    $2,879,000

    High-yield NNN leased restaurant

    Property size:
    3,566 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Spartanburg, SC Applebee's: A 3,566 sq ft, single-tenant, absolute NNN leased restaurant property offering a strong 6.60% cap rate and significant lease term remaining (10.1 years). Built in 1988 and renovated in 2005, this property sits on a 0.69-acre lot with 46 parking spaces. The franchisee, a top Applebee's operator with 170+ units, recently extended the lease demonstrating long-term commitment. The lease includes 10% rent bumps on 1/1/30 and in each of two five-year option periods. Located in a high-traffic area with numerous national retailers nearby, including Target, Costco, Home Depot, and more. The property boasts a Net Operating Income (NOI) of $190,000 and an asking price of $2,879,000. The property's strong sales data is available upon request. This is a zero-landlord-responsibility investment opportunity with exceptional potential.

    Property Features for 7602 Warren H Abernathy Hwy

    General Information

    Property type
    Restaurants
    Square Feet
    3,566 SF
    Lot Size
    30,056 SF

    Building Details

    Year Built/Renovated
    1988/2005
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Triple Net (NNN) Lease: Zero landlord responsibilities.
    • High‑Performing Location: 6.75% rent‑to‑sales ratio.
    • Strong Sales History: Data available upon request.
    • High‑Traffic Area: 31,431 average daily traffic count.
    • Experienced Tenant: Thrive Restaurant Group operates 170+ units.
    • Long‑Term Lease: 10+ years remaining.
    Property Profile Location Intelligence

    Current Use by Public Records

    Applebee's Grill + Bar Restaurant Dairy Queen Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.00153921128
    Latitude
    34.936176454904

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    FAQs

    What type of property is this?
    Restaurant - High-yield NNN leased restaurant
    Where is this restaurant located?
    The property is located at 7602 Warren H Abernathy Hwy Spartanburg, SC.
    What is the asking price?
    The asking price for this property is $2,879,000.
    What are key features of this property?
    This property features: Triple Net (NNN) Lease: Zero landlord responsibilities.; High-Performing Location: 6.75% rent-to-sales ratio.; Strong Sales History: Data available upon request.
    Request Owner's contact information
    7602 Warren H Abernathy Hwy Spartanburg, SC 29301
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    Spartanburg, SC 29301
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7602 Warren H Abernathy Hwy Spartanburg, SC 29301
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