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31710801
31710800

629-647 Hwy 28 Bypass, Anderson, SC 29624

ZT
GA 266327
Marcus & Millichap - Atlanta
EA
GA 407938
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta
$7,140,000
62 days on market
Updated 54 days ago
Opportunity zone

Walmart Shadow Center

Details
APN 124-00-02-015
Property Type Retail
Sub Type Storefront, Shopping Center (+1)
Square Footage 40,000
Units 13
Cap Rate 7.75%
NOI $553,341
Occupancy 82%
Tenancy Multi
Brand/Tenant Dollar Tree, PetSense
Price per SqFt $179
Year Built 1999
Acreage 8.100
Ground Lease No

40,000 SF | Walmart Shadow Center | Anderson, SC (Greenville, MSA)

Investment highlights

VALUE-ADD WALMART SHADOW CENTER | GREENVILLE, SC MSA

• 40,000 SF Walmart Shadow Center in a stable SC market, just located outside of Clemson and a part of the Greenville MSA

• This Walmart shopping center, is the primary retail destination for South Anderson with virtually no surrounding retail competition

• The center features multiple national credit tenants (61% credit tenancy) and long-term proven operators (avg. tenant tenure of 10.5 yrs)

• A mix of credit and service-oriented shops that have exceptional foot traffic data

• Strong leasing momentum with 4 new leases signed

• Ranked the #2 visited shopping center in a 15-mile radius

LONG-TERM PROVEN OPERATORS | LEASING MOMENTUM IN SUPPLY CONSTRAINED CORRIDOR

• Featuring national tenants like Dollar Tree, CenterWell (new lease), and Petsense (Tractor Supply guaranteed)

• 61% credit tenancy with multiple tenants operating 10-20+ yrs – the center has an average tenant tenure of 10.5 years

• Strong leasing momentum with four new leases (CenterWell 10-Year lease, Cricket 3-Year lease, PetSense 10-Year Lease, Kinsmith Finance 5-Year lease). Three remaining vacancies create the opportunity for additional lease-up and income growth

• One of the only grocery-anchored centers serving south Anderson. The limited competing shop space drives leasing demand, reduces downtime risk during lease-up, and increases the center’s competitive positioning

• Excellent Placer.ai rankings for multiple tenants in the center:

- Dollar Tree: Top 2% statewide | Top 6% nationwide

- Cricket: Top19% statewide | Top 17% nationwide

- Petsense: Top 38% statewide

- Great Clips Top 37% nationwide

18% IN-PLACE VACANCY | DOUBLE-DIGIT PROFORMA CAP RATE UPSIDE

• Average rent of the last 4 leases completed at the center: $19 PSF

• If the buyer leases vacancies at $16-$18 PSF, it will yield a proforma cap rate of 10%+

• The second most visited shopping center in a 15-mile radius

SOUTH ANDERSON RETAIL CORRIDOR HWY 28 BYPASS POSITIONING

• Located at a signalized intersection with direct frontage on Hwy 28 Bypass (28,000 VPD) – primary commercial artery serving Anderson County and connecting to the I-85 corridor

• South Anderson’s dominant retail corridor

• Walmart shadow positioning drives consistent daily traffic and reinforces the center as a need-based retail destination

REGIONAL ECONOMIC HUB | LONG-TERM GROWTH

• Anderson County is a key employment and retail hub in the Greenville MSA. The County’s business landscape comprises over 230 manufacturing companies, 1,050+ retail businesses, 1,200+ professional service companies, and 545 hospitality-based organizations.

• Key traffic drivers include AnMed Health (3,000–3,500 employees), Michelin (1,500-2,000 employees), Bosch Rexroth, Electrolux, Duke Energy, plus a strong manufacturing/logistics base and commuter traffic to Greenville

• Recent developments include approval of construction for a 1000-home development on Hampton Rd & Approval for Duke Energy’s new Natural Gas plant, with construction set for 2027

• Close proximity to Clemson University provides consistent visitor and student traffic to the Anderson area

Listing Contacts

ZT
GA 266327
Marcus & Millichap - Atlanta
EA
GA 407938
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$553,341.00
$46,111.75/mo

Valuation Metrics

0
DSCR
7.75%
Cap Rate
7.75%
ROI

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Additional Information

Name
Ben Yelm
License
SC 86628
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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