Hardee's

297 Lancaster Bypass East, Lancaster, SC 29720

$2,161,742

Cap Rate 7.00%

Views: 1260 DOM: 203 Updated: 10.18.24 Posted: 06.01.24 Status: Active

Summary

Price $2,161,742	Built/Renov 2006	Tenant Hardee's
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,472	Lease Start 02-08-2012	#Units 1,800
Price/SF $622.62	Expiration 02-29-2032	Tenant Type Fast Food/QSR
NOI $151,322	R. Term 7.2	Ownership Fee Simple
Rent/SF $43.58	Increases 10.0%/5/yrs	Pop 5Mi 32,144
Lot/AC 1.28	Options 4/5yrs/10%	AHHI 5Mi $71,267

Kyle Danielson

Horvath & Tremblay: MA

Contact

Lease Highlights

Hardees has 7+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Hardee's is strategically located at the signalized, hard corner intersection of Lancaster Bypass and Clinton Avenue, the primary commercial and commuter corridor, with access to a combined daily traffic count of 29,100 vehicles. The property is in the heart of Lancaster’s commercial district, surrounded by well-known national tenants including Walmart Supercenter, Home Depot, Food Lion, Aldi,...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Highway close
Top 100 MSA
Long operation history
Absolute NNN
Corporate Guarantee
Over 1000 units backed

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Links

Hardee's Wikipedia Hardee's Wikipedia Lancaster, South Carolina Zip Code 29720 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Hardee's
Guarantor:Corporate
Company:CKE Restaurant's Inc.
# Units:1,800
Stock:Private

About Tenant

Hardee's Restaurants LLC is an American fast-food restaurant chain famous for its made-from-scratch hand-breaded chicken tenders and biscuits. Their menu includes hand-breaded chicken...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	2,553	17,531	30,291
2024 Total Population :	2,471	16,999	29,278
2024 Employed Civilian Pop :	798	6,458	12,060
2024 Total Businesses :	322	991	1,205
2024 Average Household Income :	$ 57,671	$ 60,474	$ 64,003
2024 Total Consumer Spending :	$ 57 M	$ 377 M	$ 684 M
2024 Median Age :	40	41	41
2024 Total Households :	1,124	6,990	11,948
2024 Pop Age 25+: Bachelor's Degree :	230	1,192	2,029
2024 Average Home Value :	$ 311,691	$ 299,346	$ 294,973

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Clinton Avenue	Ruth St	2022	2,700	0.04 mi
Clinton Avenue	North Cir	2021	2,600	0.04 mi
Monroe Highway	Clinton Ave Exd	2022	6,500	0.36 mi
Charlotte Highway	Lancaster Byp E	2022	21,200	0.56 mi
East Meeting Street	N Hughes St	2022	3,400	0.68 mi
East Barr Street	Clinton Ave	2022	1,500	0.73 mi
West Springs Street	N French St	2022	850	0.73 mi
North Main Street	E Barr St	2022	9,900	0.75 mi
Charlotte Hwy	Ranson Rd	2012	17,100	0.77 mi
Lancaster Byp W	Crestfield Dr	2022	22,800	0.86 mi

Listing Broker

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