Listed by Matthews
$940,000
12520 Main St
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 20,141
Units 6
Cap Rate 8.76%
Occupancy 100%
Tenancy Multi
Brand/Tenant Family Dollar, Subway
Price per SqFt $47
Year Built 2005
Acreage 5.210
Ground Lease No
Family Dollar-Anchored Retail Strip – 8.76% Cap, $46.67 PSF
Marketing description
Fully stabilized ±20,141 SF retail strip center anchored by Family Dollar, 100% leased with national and local tenants. Priced at $940,000 with an 8.60% cap rate and NOI of $80,700. Sits on ±5.21 acres with strong Main St visibility and dual access. Includes 4 residential lots for added upside. Located ±38 miles from Augusta.
Investment highlights
- Tenant Synergy: The property is supported by national brands while maintaining appeal through the establishment of local businesses, bringing a variety of shopper traffic to the site. Family Dollar is an investment grade tenant, with roughly 63% of the center being occupied by nationally recognized tenants.
- Access to Major Markets: Convenient hub access to major regional markets – approximately 37 miles to Augusta, 52 miles to Columbia, and 118 miles to Charleston. The property also sees passer by traffic from those traveling between metros.
- Strong Visibility and Access: The property benefits from strong visibility along Main St, providing prominent exposure to traffic and desirable curb appeal. Additionally, ease of access is enhanced by two separate entry points, allowing convenient ingress and egress for tenants and customers.
- Attractive Cap Rate & High-Yield: Priced at an attractive cap rate of 8.76%, this investment allows for a potential new owner to have a healthy spread.
- Below Replacement Cost: At less than $50 PSF, the property is priced well below replacement cost.
- Fully Stabilized: 100% leased; demonstrating strong historical occupancy with World Finance occupying the space since 2007 and recent leasing momentum on newer leases.
- Additional Upside/Spin Off Potential: As a bonus, the property includes 4 residential lots at the rear that could be parceled off and sold or developed.
Listing Contacts
Listed by Matthews
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