Listing Details
Oswald Cooke & Associates is pleased to present the opportunity to acquire 100 Floyd Drive in Charleston, SC. This premier retail asset is secured by a 15-year absolute NNN corporate ground lease with Chick-fil-A, one of the nation’s most successful quick-service restaurant chains. Currently under construction, the property’s lease commences on August 24, 2025. The lease includes ten (10) five-year renewal options, with rent increasing by 10% every five years throughout both the initial term and all renewal periods.
Situated on a 2.37-acre outparcel of Walmart, the site boasts a prime corner location at the intersection of Floyd Drive, West Ashley Circle, and Bees Ferry Road—an area characterized by high traffic volumes, exceptional visibility, and convenient access. Infrastructure improvements, including recent widening projects along Glenn McConnell Parkway, have enhanced connectivity and alleviated congestion in the surrounding area.
The property is nestled within a rapidly growing corridor, surrounded by numerous existing and planned residential communities, as well as a wave of new and proposed commercial developments. These include both national and local retailers, along with office space expansions. Notable neighboring businesses include Starbucks, Harris Teeter, Tropical Smoothie Café, Lowes Foods, Lowe’s, Home Depot, McDonald's, Jersey Mike’s, Great Clips, and many others, underscoring the site’s strong consumer draw and long-term investment appeal.
PRICE: $4,875,000
CAP RATE: 4%
NOI: $195,000
RENT COMMENCEMENT: August 24, 2025
LEASE TERM: 15-Years
LEASE TYPE: Absolute NNN Ground Lease
RENTAL INCREASES: 10% every 5 years
RENEWAL OPTIONS: (10) 5-Year Options
BUILDING SIZE: 5,660 SF
PARKING SPACES: 70
LOT SIZE: 2.37 Acres
YEAR BUILT: 2025
TMS: 301-00-00-805
MUNICIPALITY: City of Charleston
ZONING: General Business
ROFR: Yes
GUARANTOR: Chick-Fil-A Inc. (Corporate)
Property Photos
