15-Year Absolute NNN - Bank of America - Folly Road

Retail-Commercial for Sale
Catylist Listing ID: 30664683
Property Subtypes: Free-Standing Building, Retail-Pad, Other
Building Size (RSF): 4,317 SF
Gross Building Area: See Agent
Sale Price: $5,625,000
Unit Price: $1,302 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 4.0%
Last Updated: 11/9/2020

Overview / Comments

Oswald Cooke & Associates is pleased to offer a 15-Year Absolute NNN leased Bank of America property to the market. The branch is located in the dense and developed suburb of James Island, the closest community to the City of Charleston. The 1.11 acre site is an outparcel to the Publix Shopping Center, and boasts a 5-Mile population of 108,582 people. The branch has deposits in excess of $185,000,000 (2020), easily the largest base in the sub-market. The new lease and recapture are the result of two branches merging together last year. Other national retailers in the area include: CVS, Harris Teeter, Arby’s, McDonalds, Wendy’s, Lowe’s, IHOP, Chick-Fil-A and many others. Barrier to entry on the Island is extreme, and this branch is located in the geographical center of the trade area.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 21 - James Island
Tax ID/APN: 3400000064
Year Built: 1999

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,143 59,780 119,286
Median Age: 33.76 33.94 36.27
Households: 3,977 25,230 51,652

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