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22468456
22468457

7381 Rivers Ave, North Charleston, SC 29406

BC
SC 39847
Oswald Cooke & Associates
Oswald Cooke & Associates
Listed by Oswald Cooke & Associates
$5,000,000
442 days on market
Updated 54 days ago

Starbucks-Sleep Number NNN Retail Center Charleston MSA

Details
APN 478-03-00-121
Property Type Retail
Sub Type QSR/Fast Food, Shopping Center (+1)
Square Footage 6,950
Cap Rate 6.34%
NOI $316,859
Occupancy 100%
Tenancy Multi
Brand/Tenant Starbucks, Sleep Number
Lease Type NNN
Rent Bumps Yes
Lease Options (4) 5-Year Options
Broker Co-Op Yes
Year Built 2013
Buildings 1
Stories 1
Acreage 0.790
Zoning B-2
Investment Type Net Lease
Ground Lease No

Retail | 6.34% CAP | 6,950 SqFt

Marketing description

Oswald Cooke & Associates is pleased to present a two tenant retail center located at 7381 Rivers Avenue, North Charleston, SC. The spaces are leased to Starbucks and Sleep Number. Both Tenants base terms expire in 2029 with (4) 5-year renewal options. Rivers Avenue boasts a traffic count of 57,600 VPD and is home to many National Retailers including: Target, Walmart, Best Buy, Walgreens, Northwoods Mall and more. Charleston has been named the No. 1 Tourist Destination in America by Conde Nast multiple times. In 2022 it was estimated that 7.68 million visitors came to the Greater Charleston area which is more than pre-pandemic records. The economic impact in 2022 from tourists alone was $12.8 billion. Investment has been particularly strong in the Charleston Market in recent years, averaging more than $300 million a year since 2014

Investment highlights

Corporate NNN Leases

57,600 VPD (Rivers Avenue)

Access to Ashley Phosphate Road

Annual NOI Increases

Listing Contacts

BC
SC 39847
Oswald Cooke & Associates
Oswald Cooke & Associates
Listed by Oswald Cooke & Associates

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$316,859.00
$26,404.92/mo

Valuation Metrics

0
DSCR
6.34%
Cap Rate
6.34%
ROI

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