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8040727
8040729

7351 Rivers Ave, North Charleston, SC 29406 For Sale

BC
SC 39847
Oswald Cooke & Associates
Listed by Oswald Cooke & Associates
$2,393,043
1412 days on market
Updated 100 days ago

Corporate Verizon - Rivers Avenue

Details
APN 478-03-00-025
Property Type Retail
Sub Type Storefront
Square Footage 4,000
Cap Rate 5.75%
NOI $137,600
Occupancy 100%
Tenancy Single
Brand/Tenant Verizon Wireless
Lease Type NN
Lease Expiration 06/01/2030
Remaining Term 3.9
Rent Bumps Yes
Lease Options (1) 5-Year
Price per SqFt $598
Broker Co-Op Yes
Class A
Year Built 2005
Buildings 1
Stories 1
Acreage 1.020
Zoning B-2
Investment Type Net Lease
Tenant Credit Corporate Guarantee

Retail | 5.75% CAP | 4,000 SF

Marketing description

Oswald Cooke & Associates is pleased to present a Verizon Wireless retail store located at 7351 Rivers Avenue, North Charleston, SC for sale. The current lease term has 7+ Years remaining and the Tenant has one option to renew with a 10% escalation. Rivers Avenue boasts a traffic count of 52,500 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 2017 it was estimated that 6.9 million visitors came to the Greater Charleston area which is a 26% increase from 2016. The economic impact in 2017 from tourists alone was $7.37 billion. Investment has been particularly strong in the Charleston Market in recent years, averaging more than $300 million a year since 2014.

Investment highlights

Rivers Avenue ( 52,500 VPD)

7+ Year NN Lease

Corporate Guaranty

(1) 5-Year Renewal Option

10% Bump at Option Renewal

Listing Contacts

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

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$137,600.00
$11,466.67/mo

Valuation Metrics

0
DSCR
5.75%
Cap Rate
5.75%
ROI

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