1004 Richland Ave Aiken, SC 29801
- Drive through restaurants
- 2,134 SF
- 0.78 lot acres
Current Use by Public Records
- Wendy's / Restaurant / Fast Food Restaurant
Property Details for 1004 Richland Ave
- Year built
- 1976
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.78 lot acres
- Property size
- 2,134 SF
- Property type
- Drive through restaurants
- APN
- 104-19-15-007
- APU
- 1041915007
Description
This exceptional investment opportunity presents a fee-simple ownership of a Wendy's restaurant located at 1004 Richland Ave W, Aiken, SC 29801. The property features a 2,134 square foot, single-story building constructed in 1976 and renovated in 2018, situated on a 0.78-acre lot. The property boasts a prominent location on a highly trafficked thoroughfare, surrounded by other national and regional retailers, including Sonic, KFC, Food Lion, Subway, Taco Bell, CVS, McDonald's, O'Reilly Auto Parts, Bank of America, and a Walmart Supercenter. The area also benefits from several new residential developments, including Eastwood Homes at True Cedar, The Islands by D.R. Horton, and Forrest Bluff by Ivey Homes, adding to the strong potential for future growth. The current lease is an absolute NNN lease with a franchisee tenant, commencing November 30, 2024, and extending for a primary term of 20 years. The lease includes four 5-year renewal options, with attractive 7.5% rent bumps every five years. The property's current Net Operating Income (NOI) is $185,000, resulting in a 5.25% cap rate. The asking price is $3,523,809, translating to a price per square foot of $1,651.27. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment opportunity with significant long-term potential. The University of South Carolina Aiken, Cambridge College, and Aiken Technical College are also nearby. Nearby shopping centers include Kalmia Plaza, Northside Plaza Shopping Center, Centre South Shopping Center, and Villae at Riverwatch Retail Center.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,015,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,055,000
- 6.5%
- $3,285,000
- 7%
- $3,310,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,110,000
- Geo Method
- $3,135,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,915,000
- Retail
- $2,930,000
- Mixed-Use
- $3,490,000
- Hospitality
- $2,730,000
- Educational
- $3,305,000
- Residential Income
- $3,195,000
- Energy
- $2,755,000
- Income-Based Land
- $3,035,000
- Food Service
- $2,915,000
Location Insight
- Map
- Local Demand
- City
- Aiken
- County
- Aiken
- State
- South Carolina
- Longitude
- -81.7326
- Latitude
- 33.5655
- CBSA code
- 12260
- CBSA name
- AUGUSTA-RICHMOND COUNTY, GA-SC METROPOLITAN STATISTICAL AREA
