945 Factory Shops Blvd Gaffney, SC 29341-3330
Property profile & analytics
945 Factory Shops Blvd Gaffney, SC 29341-3330
- Commercial real estate
- 6,290 SF
- 0.24 lot acres
Property ID
US77-0216066
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Outback Steakhouse / Restaurant
Property Details for 945 Factory Shops Blvd
- Lot size
- 0.24 lot acres
- Property size
- 6,290 SF
- Property type
- Commercial real estate
- APN
- 063-00-00-052.009
- APU
- 630000052009
Description
This exceptional investment opportunity presents a 6,172-square-foot Outback Steakhouse located at 945 Factory Shops Blvd, Gaffney, South Carolina, 29341. The property sits on a 0.24-acre lot and is part of the 360,000-square-foot Gaffney Outlet Marketplace, a vibrant shopping center with numerous national retailers. Built in 2003, this single-tenant, absolute NNN leased property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $245,584. The lease, with Bloomin' Brands, Inc. corporate guaranty, features a remaining term of approximately 11.9 years with three 5-year renewal options and attractive 1.8% annual rent increases. The asking price is $3,778,200, translating to a price per square foot of $612.15. The property benefits from excellent visibility and access, situated less than four miles from downtown Gaffney and conveniently located near Interstate 85 (65,000 vehicles per day), which is undergoing a widening project to improve traffic flow. The surrounding area demonstrates strong demographics, with a population of 25,764 and an average household income of $62,361 within a five-mile radius. Within a five-mile radius, there's also significant commercial real estate, including 3.2 million square feet of retail, 6.6 million square feet of industrial space, and 1,821 multifamily units. This property offers a compelling combination of a strong tenant, favorable lease terms, and a prime location within a thriving retail environment. The lease commenced September 30, 2016, and expires September 30, 2036. This is a rare opportunity to acquire a high-performing, net-leased retail asset with significant long-term growth potential.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Gaffney
- County
- Cherokee
- State
- South Carolina
- Longitude
- -81.7139
- Latitude
- 35.081
- CBSA code
- 23500
- CBSA name
- GAFFNEY, SC MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$32,256
$14,400
$67,020
$81,420
-
$240,000
$1,117,000
$1,357,000
