297 Lancaster E Byp Lancaster, SC 29720-4757
- Drive through restaurants
- 3,509 SF
- 257.00 lot acres
May 08, 2025
Current Use by Public Records
- Hardee's / Fast Food Restaurant / Hamburger Restaurant
Property Details for 297 Lancaster E Byp
- Year built
- 2006
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 257.00 lot acres
- Property size
- 3,509 SF
- Zone code
- CITY
- Property type
- Drive through restaurants
- APN
- 0068A-0A-001.00
- APU
- 0068A0A00100
Description
This exceptional investment opportunity presents a fee-simple ownership of a Hardee's restaurant located at 297 Lancaster Bypass E, Lancaster, SC 29720. The property boasts a 3,472 square foot building situated on a 1.28-acre lot. The property benefits from a highly visible location at the signalized intersection of Clinton Avenue and Lancaster Bypass East (US Route 521), a primary commercial and commuter corridor with over 29,100 vehicles passing daily. The Hardee's lease is an absolute NNN, corporate-guaranteed lease with zero landlord responsibilities, offering significant passive income potential. The current lease commenced February 7, 2012, and expires February 28, 2032, with a remaining term of 7.3 years followed by four 5-year renewal options. Rent increases are structured with a 10% bump every five years, providing a hedge against inflation. The property's strong location is supported by a robust retail environment, including nearby national retailers like Walmart, CVS, and numerous restaurants. The surrounding area has a high population density, with over 18,400 people within a 3-mile radius and an average household income exceeding $66,918. The property's current Net Operating Income (NOI) is $151,322, yielding a 7.00% cap rate, making it an attractive investment for passive investors seeking strong returns and long-term stability. The asking price is $2,161,742. This single-tenant, single-story building offers a secure and profitable investment opportunity in a thriving South Carolina market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,770,000
- ML approach
- $1,880,000
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Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Lancaster
- State
- South Carolina
- Longitude
- -80.7692
- Latitude
- 34.7343
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
