Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3883 Cross Anchor Rd Enoree, SC 29335

    Sponsored
    For Sale
    $5,768,400

    High-traffic, NNN-leased gas station & restaurants

    Property size:
    10,954 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional investment opportunity presents a fee-simple interest in a 10,954-square-foot, single-story truck stop located at 3883 Cross Anchor Rd, Enoree, SC 29335. The property, built in 2000, sits on a 10.24-acre lot and boasts 60 parking spaces, 18 gas pumps, and a prime location on Cross Anchor Road, benefiting from over 27,000 vehicles per day. The property features a Shell gas station, a Hot Spot convenience store, and a Hardee's restaurant, all operating under a single, absolute NNN lease with a strong franchisee tenant, R.L. Jordan Oil Company. The current lease, commencing March 22, 2013, has a remaining term of 8.4 years, with four, five-year options to extend. Rent increases of 8.5% every five years provide inflation protection. The property generates a substantial net operating income (NOI) of $360,525, resulting in a 6.25% cap rate. The asking price is $5,768,400, or $526.60 per square foot. This strategically positioned property offers significant long-term value and minimal landlord responsibilities, making it an ideal investment for those seeking a passive income stream with built-in growth potential. The property's exclusive location, with no competing gas stations in the immediate vicinity, further enhances its investment appeal. The tenant's consistent financial reporting provides transparency and insights into the property's performance. The property's status as a gas station also offers potential bonus depreciation benefits.

    Property Features for 3883 Cross Anchor Rd

    General Information

    Property type
    Restaurants
    Square Feet
    10,954 SF
    Class
    B
    Lot Size
    446,054 SF

    Building Details

    Year Built
    2000
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Paul Matusik
    Paul Matusik

    Learn more

    Property Insight Report

    HighLights

    • 8.4+ years remaining on a 20‑year Absolute NNN lease.
    • Absolute NNN lease; tenant responsible for all taxes, insurance, and maintenance.
    • 8.5% rent increases every five years throughout the base term and four renewal options.
    • Hardee's restaurant included as part of a multi‑tenant operation.
    • High visibility location on Cross Anchor Road (SC 146) with over 27,000 vehicles per day.
    • Potential for bonus depreciation benefits.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hardee's Fast Food Restaurant Shell Gas Station HOT SPOT Convenience Store CAT Scale Truck Stop Coin Cloud Bitcoin ... Atm

    Suggested Use

    Restaurant Wholesale Shop Auto Repair Shop Food Market Grocery Store Garden Center Convenience Store Shopping Mall Parking Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Enoree
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.939233353633
    Latitude
    34.698205151434

    Nearby Comparable

    • $375,000

      Enoree Industrial Land Opportunity

      5-acre site ideal for industrial outdoor storage or trailer staging.
      3755 Cross Anchor Rd, Enoree, SC 29335
      View Details
    • $425,000

      Land For Sale Enoree, SC

      Land available for purchase in Enoree, South Carolina.
      3775 Cross Anchor Rd, Enoree, SC 29335
      View Details
    • $189,000
      11.75 Acres

      Unrestricted Acreage Near I-26

      11.75 acres near I-26, suitable for various uses.
      Ice House Rd, Enoree, SC 29335
      View Details
    • $750,000
      28.83 Acres

      29 Acres in Woodruff, SC

      29-acre property near Woodruff and Spartanburg with existing infrastructure.
      2115 Price House Rd, Woodruff, SC 29388
      View Details

    Nearby Similar for Sale

    • $189,900
      1.00 Acre

      Highway 56 Enoree Commercial Land

      Prime Enoree location, high traffic, 1-acre lot.
      11905 Highway 56, Enoree, SC 29335
      View Details
    • $179,000
      1,500 SF

      Enoree Retail Investment Opportunity

      Profitable Convenience Store & Restaurant
      701 Union Hwy, Enoree, SC 29335
      View Details

    FAQs

    What type of property is this?
    Restaurant - High-traffic, NNN-leased gas station & restaurants
    Where is this restaurant located?
    The property is located at 3883 Cross Anchor Rd Enoree, SC.
    What is the asking price?
    The asking price for this property is $5,768,400.
    What are key features of this property?
    This property features: 8.4+ years remaining on a 20-year Absolute NNN lease.; Absolute NNN lease; tenant responsible for all taxes, insurance, and maintenance.; 8.5% rent increases every five years throughout the base term and four renewal options.
    Request Owner's contact information
    3883 Cross Anchor Rd Enoree, SC 29335
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3883 Cross Anchor Rd
    Enoree, SC 29335
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    3883 Cross Anchor Rd Enoree, SC 29335
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Paul Matusik
    Paul Matusik
    Real Estate License ID: CA 01351021
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.