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Chick-Fil-A Ground Lease, Sumter, SC

Chick-Fil-A Ground Lease

Sumter, SC

Price $3,202,000
Cap Rate 3.65%
NOI $116,875
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2022
Building Size Contact For Details
Lot Size 1.58 Acres (68,825 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year absolute NNN ground lease, with eight (8) extension periods of five (5) years each
» 10% fixed rental increases every five years, providing a hedge against inflation
» No landlord management, making this an ideal opportunity for an out-of-area investor
» Chick-fil-A is the largest chicken chain and the third-largest American fast food restaurant chain
» Located on larger-than-typical QSR parcel (1.58 acres)
» 2022 construction featuring dual-lane drive-thru with room for 48-vehicle stack

HIGH-VISIBILITY LOCATION AT SIGNALIZED FOUR-WAY INTERSECTION OUTPARCEL TO WALMART NEIGHBORHOOD MARKET
» Conveniently located at the signalized four-way intersection of McCrays Mill Road and Pinewood Road, with excellent visibility and access to 34,600 vehicles per day
» Outparcel to Walmart Neighborhood Market, creating significant crossover shopping
» Immediately surrounded by notable tenants such as Walgreens, Ace Hardware, McDonald’s, Sonic Drive-In, Zaxby’s, Arby’s, Starbucks, and many more
» Surrounded by high-density, single family housing developments and townhouses

DENSELY POPULATED AREA WITH EXCELLENT SOUTH CAROLINA DEMOGRAPHICS
» 63,078 residents live within five miles of the property
» Average annual household income of $88,998 within a one-mile radius of the site
» 10.5 miles from Shaw Air Force Base (7,140 active duty, 14,000 family members, 730 civilians)
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years, poising Chick-fil-A and Sumter for steady concurrent growth
» Beneficial proximity to highly attended area schools, including University of South Carolina-Sumter and Sumter High School (combined 3,309 students)


Property Description

» The property is conveniently located at the signalized four-way intersection of McCrays Mill Road and Pinewood Road, with excellent visibility and access to 34,600 vehicles per day
» Located in a growing retail corridor, the property is an outparcel to Walmart Neighborhood Market and immediately surrounded by notable tenants such as Walgreens, Ace Hardware, McDonald’s, Sonic Drive-In, Zaxby’s, Arby’s, Starbucks, and many more, creating significant crossover shopping
» This Chick-fil-A is surrounded by high-density, single family housing developments and townhouses
» The site greatly benefits from its proximity 10.5 miles from Shaw Air Force Base, which features 7,140 active duty, 14,000 family members, and 730 civilians
» The location serves highly attended area schools, including University of South Carolina-Sumter and Sumter High School (combined 3,309 students)
» Projected income increase within 1-, 3-, and 5-mile radii over the next five years poise Chick-fil-A and Sumter for steady concurrent growth

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