1211 Bypass 25 Greenwood, SC 29649
- Retail properties
- 2,145 SF
- 0.96 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1211 Bypass 25
- Year built
- 2019
- Lot size
- 0.96 lot acres
- Property size
- 2,145 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity features a 2,145 square foot Popeyes restaurant with a drive-thru, situated on a 0.96-acre lot in Greenwood, South Carolina. Built in 2019, the property boasts a 20-year absolute NNN lease with a franchisee tenant, offering significant long-term stability. The lease commenced December 26, 2019, and expires December 25, 2039, with over 15 years remaining on the initial term and four 5-year renewal options. Rent increases by 10% every five years, ensuring consistent income growth. The property enjoys exceptional visibility and accessibility, located on Bypass 25 NE, a major thoroughfare with high traffic counts, and benefits from proximity to numerous national retailers including McDonald's, Burger King, CVS, and others. The property's strong location, coupled with the established Popeyes brand and the favorable lease terms, presents a compelling investment opportunity with a 6.00% cap rate and a current NOI of $128,287. The asking price is $2,138,100, translating to $996.78 per square foot. This fee-simple ownership allows for depreciation benefits. The property is a single-story building with excellent access and visibility in a thriving retail corridor. Nearby residential developments further enhance the long-term prospects of this investment.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Greenwood
- County
- Greenwood
- State
- South Carolina
- Longitude
- -82.1486
- Latitude
- 34.2102
