SALE PRICE: $5,041,800
CAP RATE: 6.0%
- IDEAL LOCATION — Located just off I-26 within a dense retail area near other national credit tenants and shopping centers including Northwoods Mall (833K+ SF), North Rivers Towne Center (272K+ SF) & North Pointe Plaza (375K+ SF). High traffic counts along Ashley Phosphate Road (62K ADT), as well as nearby Rivers Ave./US-52 (36K ADT) & I-26 (165.9K ADT).
- QUALITY INVESTMENT — New 2016 construction and minimal landlord responsibilities. Tenants pay pro-rata shares for real estate taxes, insurance and CAM.
- STRONG CREDIT TENANTS — Established national and global credit tenants on new leases with incremental rent increases and renewal options.
- GLOBALLY RECOGNIZED MARKET — North Charleston, in 2009, became Boeing Aircraft’s new home of the 787 Dreamliner Aircraft assembly and delivery prep center, providing thousands of new jobs in a world-wide market. North Charleston has gained international importance and stature as one of only three places in the world for the manufacture and assembly of wide-body long range commercial aircraft.
- DYNAMIC TRADE AREA — Over 50,000 households and 131,000 people, with an average household income of $56K+, within five miles. North Charleston is the third-largest city in South Carolina and drives the economy as one of the state’s major industrial centers and the state’s top city in gross retail sales, exceeding $6 billion dollars each year. Nearby Charleston International Airport currently serves more than 2.9 million passengers annually.
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