Current Use by Public Records
- Retail properties & Spaces
Property Details for 2476 Us-21
- Year built
- 2005
- Lot size
- 0.83 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a recently renovated (2023), 2,000 square foot Dave's Hot Chicken restaurant located in Rock Hill, South Carolina, within the Charlotte MSA. The property sits on a 0.83-acre lot and benefits from a 15-year absolute NNN ground lease (commencing October 1, 2024, and expiring September 30, 2039) with a highly desirable franchisee tenant. The lease includes 2.5% annual rent bumps, providing consistent income growth. The property boasts a strong 6.20% cap rate based on a current Net Operating Income (NOI) of $150,000 and an asking price of $2,419,000. The building was originally constructed in 2005 and features a drive-thru. This prime location enjoys high visibility in a major retail corridor with significant traffic volume (over 32,000 vehicles daily on Cherry Rd, and proximity to I-77 with 71,900 vehicles per day), and is situated near other national brands such as Publix, Chick-fil-A, Aldi, and McDonald's. The area demonstrates robust growth, with the Charlotte MSA experiencing significant population and job growth. This is a rare opportunity to acquire a high-performing asset in a thriving market with a long-term, secure lease. The lease includes two five-year renewal options.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rock Hill
- County
- York
- State
- South Carolina
- Longitude
- -80.9919
- Latitude
- 34.9694
