Close of Escrow: Steak ‘n Shake in North Charleston, SC

Close of Escrow: Steak ‘n Shake in North Charleston, SC

SIG is pleased to announce the recent Close of Escrow on Steak ‘n Shake located in North Charleston, South Carolina.

Investment Highlights Include:

  • New 20 Year Absolute Triple Net (NNN) Lease to Start at Close of Escrow
  • 10% Rent Increases Every 5 Years
  • Four (4) x Five (5) Year Options to Renew
  • Strong Barriers to Entry with Ideal Location Adjacent to Charleston Tanger Outlet Centers and Strategically Positioned Between I-26, I-526, Charleston International Airport and Boeing Aviation Facility
  • Neighboring Tenants Include: Walmart Supercenter, Zaxby’s, Tanger Outlet Center, Mellow Mushroom, Starbucks and Panera Bread
  • Excellent Demographics with Over 127,000 Residents Within a 5-Mile Radius and Over 136,000 Vehicles Per Day Along I-26
  • Lease is Structured at an 8.5% Rent to Sale Ratio Based on 2016 Sales
  • Sale Leaseback will Reduce the Tenant’s Current Monthly Expenses and Increase Overall Business Profitability
  • Located Less Than 10 Miles From Downtown Charleston

Closing Price: $2,842,000
Closing CAP:  6.00%

Listing Agents: Doug Roland, Max Freedman and Amanda Reeves

For More Information Contact:

Doug Roland
Lic #70364

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