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620 N Jefferies Blvd 2,874 SF Retail Building Walterboro, SC 29488 $2,682,950 ($933.52/SF) 6% Cap Rate
Investment Highlights
- Attractive 20-Year NNN Lease with Annual Escalations
- Large Franchisee - 115-unit Operator
- 3.0x EBITDAR Ratio since 225 Remodel
Executive Summary
Newly remodeled Wendy's located on N. Jefferies Boulevard in Walterboro, the county seat of Colleton County. The site benefits from roughly 16,900 vehicles per day, a position across from the city and county government complex, and established national co-tenants including McDonald's, Hardee's, Belk and Tractor Supply.
The property is held on an absolute NNN lease with 20 years of term remaining through April 2046, followed by three five-year renewal options and no landlord responsibilities. Rent increases 1.5% annually, rising from $160,977 to $213,609 over the term. The lease is guaranteed by Carolina Restaurant Group, a 115-unit Wendy's franchisee.
The building was fully remodeled in 2025, and the unit has maintained 3.0x EBITDAR-to-rent coverage since the remodel.
The property is held on an absolute NNN lease with 20 years of term remaining through April 2046, followed by three five-year renewal options and no landlord responsibilities. Rent increases 1.5% annually, rising from $160,977 to $213,609 over the term. The lease is guaranteed by Carolina Restaurant Group, a 115-unit Wendy's franchisee.
The building was fully remodeled in 2025, and the unit has maintained 3.0x EBITDAR-to-rent coverage since the remodel.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,874 SF
Building Class
C
Year Built/Renovated
2000/2025
Price
$2,682,950
Price Per SF
$933.52
Cap Rate
6%
NOI
$160,977
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.09 AC
Opportunity Zone
Yes
Zoning
UD
Amenities
- 24 Hour Access
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 163-07-00-083 | Improvements Assessment | $925,000 |
| Land Assessment | $175,000 | Total Assessment | $1,100,000 |
Property Taxes
Parcel Number
163-07-00-083
Land Assessment
$175,000
Improvements Assessment
$925,000
Total Assessment
$1,100,000
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620 N Jefferies Blvd
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