STNL Bojangles Drive-Thru 7610 Highway 76 3,730 SF Retail Building Pendleton, SC 29670 $2,850,000 ($764.08/SF) 6.25% Cap Rate

Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., are pleased to present the opportunity to acquire a 100% absolute triple net (NNN) leased Bojangles, backed by the chain’s largest franchisee, BOJ of WNC (the “Property”). This fee simple offering provides investors with stable, passive cash flow secured by a nationally recognized QSR brand. BOJ of WNC operates more than 120 Bojangles locations across five states, and this location benefits from over 13 years remaining on the original 20-year lease term. The lease includes 1.50% annual rent increases throughout the base term and both five-year renewal options, offering a rare blend of zero landlord responsibilities and built-in income growth.
The Property sits on a prime 1.29-acre pad site with a 3,730-square-foot drive-thru restaurant built in 2014. With ±56 surface parking spaces (a 15.01:1,000 SF ratio), the site offers superior accessibility and visibility along Highway 76, the main thoroughfare connecting Clemson and Anderson. The surrounding retail corridor features a growing lineup of national brands, including recently constructed Dunkin’, Circle K, and Zaxby’s locations, as well as the nearby Pendleton Plaza, anchored by Food Lion, the largest grocery chain in South Carolina with 142 locations. This location benefits from strong traffic counts, (29,000+ VPD) on Highway 76, and continued retail expansion in a rapidly developing submarket.
The immediate trade area has experienced a surge in residential development, further reinforcing the strength of the location. Within just a half-mile of the Property, over 900 new housing units have been recently delivered or are under construction, including the 291-home Champions Village at Cherry Hill, The Preserve at Pendleton (258 homes), and The Falls at Meehan (296 apartments). Directly across the street, Wren Point added another 75 single-family homes in 2022. This sustained population growth enhances the long-term fundamentals of the site and supports continued traffic to the tenant’s operations.
Pendleton is located in the heart of the Upstate South Carolina region and is less than 10 minutes from Clemson University, which enrolls over 29,000 students and supports more than 2,000 faculty members. Clemson generates an estimated $6.4 billion in annual economic impact statewide, nearly $5 billion of which is concentrated in the Upstate. Coupled with Bojangles’ own national growth, including over 35 new stores in 2024 and expansion into key new markets in 2025, this asset is ideally positioned at the intersection of brand momentum, strong franchise backing, and robust local market growth.