Listed by SURMOUNT
$3,614,104
6633 South Federal Way
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 4,471
Cap Rate 6.50%
NOI $234,917
Tenancy Single
Lease Type NNN
Lease Expiration 02/28/2045
Year Built 1964
Year Renovated 2009
Acreage 0.760
Tenant Credit Corporate Guarantee
Lease Commencement 02/20/2025
Ground Lease No
About This Property for Sale
Marketing description
Surmount is pleased to present the exclusive listing for a Main Street Auto located at 639 Congaree Road, Greenville, SC 29607. The site consists of roughly 4,471 rentable square feet of building space on an estimated .76-acre parcel of land. Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 2/20/2025. The current annual rent is $234,917 and has scheduled increases of 2.00% annually starting 3/1/2031.
Investment highlights
- Strong Corporate Guarantee | The lease features a corporate guarantee from Main Street Auto. Main Street Auto is a rapidly growing operator of automotive repair shops in the southeast and beyond. They currently operate ~150 locations. The corporate guarantee on this lease is backed by ~110 of these locations.
- Strong Unit - Level Performance & Historical Operating History | The subject property benefits from strong underling unit-level performance, as well as has successfully operated at this location for over 30+ years. Please contact the listing team for additional details.
- Furman University | Furman University, a nationally recognized liberal arts institution with over 2,500 students, is located nearby and provides a strong base of student.
- New Long-Term Triple-Net (NNN) Lease | This site is subject to an absolute triple-net (NNN) lease which commenced on 2/20/2025 and has over 18+ years of term remaining. The lease features 2.00% annual rental increases starting year 3/1/2031 and has no landlord responsibilities.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$234,917.00
$19,576.42/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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