Starbucks Rivers Avenue

Retail-Commercial for Sale
Catylist Listing ID: 30378026
Property Subtypes: Mixed Use, Restaurant, Retail-Pad, Other
Building Size (RSF): 6,950 SF
Gross Building Area: See Agent
Sale Price: $4,987,589
Unit Price: $717.64 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 5.68%
Last Updated: 7/24/2020

Overview / Comments

Two tenant retail center located at 7381 Rivers Avenue, North Charleston, SC. The spaces are leased to Starbucks and Sleep Number, both terms have a 10 - Year base lease structure and options. Rivers Avenue boasts a traffic count of 42,500 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.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 4780300121
Year Built: 2013

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,593 65,218 132,987
Median Age: 28.79 31.55 32.28
Households: 2,038 25,063 50,056

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