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Wendy's 4010 E Palmetto St
2,058 SF Retail Building Florence, SC 29506 $1,757,000 ($854/SF) 5.75% Cap Rate
Investment Highlights
- ATTRACTIVE LEASE FUNDAMENTALS WITH HEALTHY RENT-TO-SALES & ANNUAL RENT ESCALATIONS
- NAME BRAND TENANT
- HIGH VISIBILITY ON HARD CORNER OF MAJOR COMMUTER THOROUGHFARE
Executive Summary
- New 20 year Abs. NNN lease
- 2.00% rent increases annually
- No Landlord Responsibilities
- Rent is based off sales, providing low rent-to-sales for healthier operations
POSITIONED ON A RETAIL CORRIDOR
- 400k SF of retail within a 2 mile radius
- 435k SF of industrial space in a 2 mile radius
- Nearby retailers include: Food Lion, Bojangles, Burger King, Circle K, O’Reilly Auto Parts
NEAR MARKET DRIVERS
- Located just 4 miles away from McLeod Medical Park Pavilion - a 3 million SF medical park with over 500 beds and over 15,000 employees
- Approximately 6.4 miles away from MUSC Health Florence Medical Center - a health center that is over 500k SF and boasts over 400 beds and over 1.500 employees
NAME BRAND TENANT
- Wendy’s is ranked in the top 5 quick service restaurants (QSRs) in United States
- Over 6,000+ locations in 51 states and 30 countries.
- In 2023 The Wendy’s Company had annual revenue of $2.18B with 4.11% growth
HIGH VISIBILITY ON HARD CORNER OF MAJOR COMMUTER THOROUGHFARE
- Located at a lighted intersection of E. Palmetto St (20,600 VPD) & Freedom Blvd (7,900 VPD)
- Directly in front of Sandstone Communities, a 106 home community
HEALTHY MICRO-ECONOMY
- Florence Ranked #48 out of 384 Metro Areas in the US for Overall Economic Health - Employment rate has increased more than 2% since January 2024 up to 97.4%, South Carolina had the largest increase of any state at 3.5% growth
Property Facts
Amenities
- Pylon Sign
- Drive Thru
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- Sep 2044
Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, “Quality is Wendy's Recipe®,” which remains the guidepost of the Wendy’s system. Wendy’s is best known for its made-to-order square hamburgers, using fresh, never frozen beef, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty® dessert. The Wendy’s Company is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company’s support of the Dave Thomas Foundation for Adoption® and its signature Wendy’s Wonderful Kids® program, which seeks to find every child in the North American foster care system a loving, forever home. Today, Wendy’s and its franchisees employ hundreds of thousands of people worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | Sep 2044 |
PROPERTY TAXES
| Parcel Number | 00241-01-024 | Improvements Assessment | $14,383 |
| Land Assessment | $10,000 | Total Assessment | $24,383 |
PROPERTY TAXES
-
David Hoppe -
Ben McCarter -
Ben Olmstead -
Atlantic Capital Partners
Presented by
Wendy's | 4010 E Palmetto St
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