NN Lease | Retail Site | Annual NOI Increases | Hwy 17 N

Retail-Commercial for Sale
Catylist Listing ID: 30803593
Property Subtypes: Free-Standing Building, Retail-Pad, Other
Building Size (RSF): 4,250 SF
Sale Price: $3,663,157
Unit Price: $861.92 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 4.75%
Last Updated: 6/23/2022

Overview / Comments

Oswald Cooke & Associates is pleased to offer a new 10-Year NN leased retail store located at 1755 Hwy 17 N in Mount Pleasant, South Carolina. The 4,250 SF building is currently leased to Ferguson Family Mattress Superstore and offers 3% annual rent escalations during the base term and all options. The site is located at a traffic lit intersection on Mount Pleasant’s main retail corridor, Highway 17 N (40,900 VPD). The site has experienced a 35% population growth (5 Miles) over the past ten years. Other national retailers in the area include Walmart, Lowes, Publix Greenwise, Belk, Starbucks, Cook Out, Bojangles, CVS, Gap, Old Navy, and many others. Mount Pleasant is home to the highest income, education and housing demographics in the greater Charleston market.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 42 - Mt.Pleasant South of IOP Connector
Tax ID/APN: 558-00-00-082
Year Built: 2012

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,971 42,204 74,630
Median Age: 39.03 40.5 39.89
Households: 3,164 18,039 30,961

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