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4584 Charlotte Hwy (Hwy 49), Lake Wylie, SC 29710
790 SF | Retail
Retail Property - Off Market
- Building Size:
- 790 SF
- Property Type:
- Property Sub-type:
- Additional Sub-types:
- Free Standing Bldg
- Retail (Other)
- Retail Pad
- Property Use Type:
- Cap Rate:
- No. Stories:
- Year Built:
- Lot Size:
- 0.94 AC
- APN / Parcel ID:
- Listing ID
- Last Updated
- over 1 year ago
- 6.9% Rent Increases Every Four (4) Years--1.725% Annually
- New 20 Year NNN Lease (Landlord Has Structural Obligations Not Including Roof)
- Nationally Recognized QSR Chain--800+ Locations
- One of the Fastest Growing QSR's in the Past Three (3) Years Based on Same Store Sales
- 14% Projected Population Growth in Next Five (5) Years (3 Mile Radius)
- Located 15 Miles from Charlotte, NC--Largest City in the Carolinas
The subject property is a freestanding 790+/- square foot Checkers Drive-In Restaurant located at 4584 Charlotte Highway (Hwy 49), Lake Wylie, South Carolina. Charlotte Highway (Hwy 49) generates daily traffic counts of 21,000+/- (2004). Local area retailers in the immediate area include CVS, Food Lion, Wendy's, Burger King, and Pizza Hut.
Starnes Foods, Inc. has signed a new 20 Year NN Lease (Landlord Has Structural Obligations Not Including Roof) with a projected rent commencement date of 5/1/2007. The Lease provides Landlord friendly rent increases of 6.9% every Four (4) Years (1.725% Annually). The Tenant is responsible for all CAM, Taxes, and Insurance Premium expenses and will pay one-twelfth (1/12) of the estimated amount monthly as Additional Rent. At the end of each Lease Year Landlord and Tenant shall settle up for the actual expense amount.
Starnes Foods, Inc., out of Granite Falls, NC successfully operates four (4) Checkers Drive-In restaurants throughout North and South Carolina. Their operations have boasted locations with $1,000,000+ in annual sales.
York County, South Carolina, capitalizes on its geography offering favorable tax incentives and business climate of South Carolina with adjacent access to the largest metropolitan area in the two Carolinas - Charlotte, NC. The region offers a unique balance of business strength, accessibility and quality of life. The diversity and strength of the business community continually supports economic and population growth. In the past several years, York County has averaged $200 million in business and industry development and 1,700 new jobs annually. Since 2000, reported investment totaled $1 Billion and 7,900 new jobs.
The Charlotte MSA is the nation's 2nd largest financial center and with an International airport major highways (Interstate 77 & 85) the region also boasts a strong distribution and manufacturing presence. Charlotte is headquaters to nine (9) Fortune 500 companies.
Map of 4584 Charlotte Hwy (Hwy 49), Lake Wylie, SC 29710 (York County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P