Jordan Oil Truck Stop - Shell, Hot Spot & Hardee's

Highlights

• LONG TERM LEASE - The subject property has over 8 years remaining on the initial term of the 20-year Absolute NNN Lease.
• ZERO LANDLORD RESPONSIBILITIES - Absolute NNN Lease. Ideal for Investors not Local to the Market or looking for a "hands off" investment. Tenant responsible for all taxes, insurance, and maintenance including roof, structure, and parking lot.
• RENTAL INCREASES - 8.5% every Five years throughout the base term and following Four options gives the investor the ability to hedge against inflation.
• NATIONAL TENANT SUBLEASE - For over 60 years, Hardee's has brought communities together with quality, delicious food and more than 1,800 restaurants across the U.S., and locations in 13 countries.
• EXCELLENT VISIBILITY - The immediate area sees over 27,000 Vehicles Per Day from SC 146 (CROSS ANCHOR RD) TO SC 92 (HIGHWAY 92).
• BONUS DEPRECIATION - Fee simple ownership of a Gas Station provides the landlord the opportunity to use accelerated Bonus Depreciation model. Consulting your Accountant or Tax Attorney is advised.
• EXPERIENCED OPERATOR - R. L. Jordan Oil Company operates 41 Hot Spot convenience stores, 13 Hottie’s Kitchens, 7 Subways, 12 Hunt Brothers Pizza, and 1 Hardee's in North Carolina and South Carolina.
• STRONG FINANCIALS - The tenant consistently reports their financials, offering transparency and insights into performance. For more detailed financial information, please contact the broker directly.

Description

Prime Net Lease is pleased to offer the opportunity to acquire the fee simple interest in a freestanding truck stop, featuring a Shell Gas Station, Hot Spot Convenience Store and Hardee's Restaurant located in Enoree, South Carolina.

The original franchisee guaranteed lease has over 8 years remaining on its initial term. This absolute NNN lease includes 8.50% rental increases every 5 years during the base term and grants the Tenant Four successive 5-year options to extend the lease.

The Property has excellent visibility and is conveniently situated on Cross Anchor Road off of I-26 where the immediate area sees over 27,000 Vehicles Per Day from SC 146 (CROSS ANCHOR RD) TO SC 92 (HIGHWAY 92). I-26 runs generally east–west from near Landrum, in Spartanburg County, to U.S. Route 17 (US 17), in Charleston, South Carolina. It is also the longest Interstate Highway in South Carolina. This location benefits from having national tenant Hardee's apart of the center. The property takes advantage of traffic generated by visitors driving to the nearby Dollar General store built in 2022, which is just minutes away. In addition, Woodruff High School with a student count of over 800 is roughly 5 miles away from the property.

Hot Spot is operated by R.L. Jordan Oil Company. The goal of RL Jordan Oil Company, Hot Spot stores, and our restaurants is to provide our customers with excellent and convenient service, a clean, safe and pleasant environment and quality products at competitive prices for the purpose of building a profitable business. Furthermore, it is the Company’s intention to strive to provide satisfying and rewarding employment believing that satisfied employees will result in satisfied customers.

Discover the charming community surrounding this prime commercial location in Enoree, SC. Nestled within a serene landscape, the area offers a peaceful setting for businesses seeking a tranquil work environment. Only a short drive away, the bustling business district of Spartanburg provides convenient access to a wealth of corporate resources and services. Nearby, the Enoree River Winery invites professionals to unwind and network in a picturesque countryside setting. Enjoy the best of both worlds with a peaceful office environment in Enoree and easy access to urban amenities in Spartanburg, making this property an excellent investment opportunity for office building investors.

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