Mar
03

Fatz Cafe Sold at 7.75% Cap Rate

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irmo fatzBarbara Blitch of Complete Real Estate represented the Buyer, 7420 Broad River Rd LLC, in the purchase of the 5,960 square foot Fatz Cafe restaurant at 7420 Broad River Road in Columbia SC for $2,850,000. Chet Clontz of Clontz Commercial Properties represented the Seller. The building was built in 2003 and is on a 1.5 acre site.

According to Loopnet, the triple net lease expires July 1, 2030, and the net operating income is $220,995. This would indicate a 7.75% cap rate. The asking price was based upon a 7.5% cap rate.

The first Fatz Café opened in Spartanburg in 1988 and there are now 45 locations in four states.

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