802 E Liberty St 41,883 SF 100% Leased Retail Building York, SC 29745 $4,467,000 ($106.65/SF) 6.85% Cap Rate
INVESTMENT HIGHLIGHTS
- • Anchor Tenants: Tractor Supply Company and Planet Fitness, both nationally recognized brands with strong customer loyalty and robust credit profiles
- • Tractor Supply: Recently signed a 10-year extension through December 31, 2034.
- • Repaved Parking Lot: Offers a fresh, clean appearance and ensures long-term functionality for tenant and customer use.
- • Scooter’s Coffee: A 12-year ground lease starting April 2024, providing passive income with no landlord maintenance responsibilities.
- • Planet Fitness: Operating under a 12-year lease that commenced in May 2021.
- • Located in York County, one of South Carolina’s fastest-growing regions, benefiting from proximity to Charlotte, NC
EXECUTIVE SUMMARY
Prime Investment Opportunity
• Anchor Tenants: Tractor Supply Company and Planet Fitness, both nationally recognized brands with strong customer loyalty and robust credit profiles. Both leases are corporately guaranteed.
Long-Term Leases
• Tractor Supply: Recently signed a 10-year extension through December 31, 2034.
• Planet Fitness: Operating under a 12-year lease that commenced in May 2021.
• Scooter’s Coffee: A 12-year ground lease starting April 2024, providing passive income with no landlord maintenance responsibilities.
Minimal Landlord Responsibilities
• Triple-Net (NNN) Lease Structure: Tenants reimburse for all operating expenses, including taxes, insurance, and maintenance, except for limited capital expenses related to Tractor Supply and Planet Fitness.
• Ground Lease with Scooter’s Coffee: Eliminates landlord obligations, providing fully passive income.
Well-Maintained Asset
• LED Lighting Upgrades: Improve energy efficiency and enhance the property’s appeal.
• Repaved Parking Lot: Offers a fresh, clean appearance and ensures long-term functionality for tenant and customer use.
Growing Market Dynamics
• Located in York County, one of South Carolina’s fastest-growing regions, benefiting from proximity to Charlotte, NC, and the region’s expanding economy. Steady population growth and a favorable business environment contribute to strong demand for retail and fitness spaces.
• Anchor Tenants: Tractor Supply Company and Planet Fitness, both nationally recognized brands with strong customer loyalty and robust credit profiles. Both leases are corporately guaranteed.
Long-Term Leases
• Tractor Supply: Recently signed a 10-year extension through December 31, 2034.
• Planet Fitness: Operating under a 12-year lease that commenced in May 2021.
• Scooter’s Coffee: A 12-year ground lease starting April 2024, providing passive income with no landlord maintenance responsibilities.
Minimal Landlord Responsibilities
• Triple-Net (NNN) Lease Structure: Tenants reimburse for all operating expenses, including taxes, insurance, and maintenance, except for limited capital expenses related to Tractor Supply and Planet Fitness.
• Ground Lease with Scooter’s Coffee: Eliminates landlord obligations, providing fully passive income.
Well-Maintained Asset
• LED Lighting Upgrades: Improve energy efficiency and enhance the property’s appeal.
• Repaved Parking Lot: Offers a fresh, clean appearance and ensures long-term functionality for tenant and customer use.
Growing Market Dynamics
• Located in York County, one of South Carolina’s fastest-growing regions, benefiting from proximity to Charlotte, NC, and the region’s expanding economy. Steady population growth and a favorable business environment contribute to strong demand for retail and fitness spaces.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
41,883 SF
Building Class
B
Year Built
1988
Price
$4,467,000
Price Per SF
$106.65
Cap Rate
6.85%
NOI
$305,990
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
7.83 AC
Zoning
C
Parking
138 Spaces (3.29 Spaces per 1,000 SF Leased)
Frontage
277’ on Liberty St
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0701501021 | Improvements Assessment | $50,069 |
| Land Assessment | $10,168 | Total Assessment | $60,237 |
