NNN Leased Investment - Columbia, SC

741 Fashion Drive, Columbia, SC

$7,008,505

Price

8.25%

Cap Rate

$646,068

NOI

Overview
Cap Rate
8.25%
NOI
$646,068
Building Size
85,800 sqft
Lot Area
6.43 acres
Occupancy
100%
Units
1
Year Built
2004
Floors
1
Parking Spots
212
Description

Absolute NNN Investment located within the Village at Sandhill shopping center in northeast Columbia

The property is located within the Village at Sandhill shopping center off Two Notch Road (US-1) in northeast Columbia. Regional access is just 3 Miles from Interstate 77 with a total traffic count of 73,700 vehicles per day. The property is surrounded by significant commercial development around the intersection and along the primary thoroughfares. The neighborhood is one of the fastest growing areas in the Columbia MSA. Population within a 3 mile radius of the property was estimated at 55,528 in 2017 and is expected to increase to 59,011 by 2020. This represents an increase of 1.22% per year which is essentially similar to the state as a whole. Median house income in the area is estimated at $72,132 (2017) with a projected growth rate of 1.66% annually over the next five years.


Typical commercial electrical service, 3 phase for equipment
All utilities are available to site

The outparcel is a rectangular, level lot located within a mixed use development. It is located along Fashion Drive, an interior commercial drive within the Village at Sandhills. Fashion Drive has a signalized intersection with Two Notch Road (US-1) southeast of the property. The site has good access and visibility. The location is less than ΒΌ mile
southwest of the intersection with Clemson Road. The property is not located in a flood zone.

Typical commercial / 3 phase for equipment

Highlights
  • 100% Occupied - NNN Single Tenant Investment
  • Great Opportunity for Hands-Off Investor
  • Multi-site Tenant with 11 locations across the Eastern US and Canada
  • Limited Tenant Competition
  • Strong Private Equity Investor and Lease Surety Bond
  • Seven Year Lease with 3% Annual Increases and Two 5-Year Options to Renew
  • Located within regional open-air center with a mix of nationally and locally owned merchants and restaurants
Documents

Location
Gallery