1628 John B White Sr Boulevard, Spartanburg, SC for sale

Investment Overview

NAI Charleston is pleased to present the opportunity to acquire a ±2,365 SF freestanding Popeyes situated on ±0.89 acres along one of Spartanburg’s premier retail corridors. The property offers excellent visibility, convenient access, and a drive-thru configuration, with approximately six years remaining on the lease, providing stable, predictable cash flow. Surrounded by a strong concentration of national retailers and restaurants, the site benefits from consistent consumer traffic and is located within 30 minutes of downtown Greenville and 10 minutes of five colleges and universities, creating a diverse and growing customer base. Constructed in 2022, the property features modern improvements and presents an exceptional opportunity to acquire a newer, net-leased asset occupied by a nationally recognized quick-service restaurant brand.

Investment Highlights

• Acreage: ±0.89 AC
• Improvements: ±2,365 SF freestanding building
• Year Built: 2022
• Landlord/Seller: Palmetto Land Buyers, LLC
• Tenant: PSP-PLC 22, LLC (PSP Holdings); Guaranty: PLC Development Group, LLC
• Price: $2,500,000
• NOI: $130,000 (Lease Years 1-5)
• Cap Rate: 5.2%
• Structure: Absolute Triple Net (NNN)
• Tenant Responsibility: taxes, insurance, & maintenance/repair
• Lease Term: See Lease Summary (following page) for full commencement, expiration, and rent schedule