For Sale
$5,608,000

236 PikeSumter, SC 29150

Corporate-guaranteed, NNN-leased storefront.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple interest (land and building) in a 12,100-square-foot, single-tenant storefront located at 236 S Pike W, Sumter, SC 29150. The property, built in 2019, boasts a 100% occupancy rate with a 15-year NNN lease (commencing June 1, 2019, and expiring June 1, 2034), leaving approximately 9.5 years remaining. The lease includes four 5-year renewal options, with scheduled 10% rental increases in year 11 and at the start of each option period. The tenant, Biotek America, LLC (dba Freedom Plasma), is backed by a corporate guarantee from Grifols Shared Services North America, Inc., minimizing landlord responsibilities and offering a low-management investment. The property sits on a 1.57-acre lot with 66 parking spaces and benefits from a prime location along US Highway 378, experiencing high daily traffic volume (13,900 vehicles) and proximity to US Highway 521 (28,800 VPD). Its strategic placement within a dense retail area, near major shopping centers like Wesmark Plaza and Sumter Mall, and surrounded by strong national credit tenants (ALDI, Walmart, Lowe's, etc.), ensures high visibility and strong tenant synergy. The property also enjoys a substantial residential consumer base, supported by nearby multi-family complexes and a 5-mile trade area encompassing over 57,000 residents and 32,300 daytime employees, with an average household income of $87,198. The asking price is $5,608,000, representing a 7.25% cap rate and a current NOI of $406,608. The property is zoned CBD.

Highlights

  • Fee simple ownership of a 12,100 SF single-tenant building on a 1.57-acre lot with 66 parking spaces.
  • NNN lease with approximately 9.5 years remaining, including four 5-year renewal options and scheduled rent increases. Corporate guarantee from Grifols Shared Services North America, Inc. minimizes landlord responsibilities.
  • Strong demographics: 5-mile trade area with over 57,000 residents and 32,300 daytime employees, average household income $87,198.
  • Excellent location with high visibility: US Highway 378 (13,900 VPD), near US Highway 521 (28,800 VPD), and surrounded by national credit tenants (ALDI, Walmart, Lowe's) and major shopping centers (Wesmark Plaza, Sumter Mall).
  • Prime, signalized corner location in Sumter, SC's CBD, offering excellent visibility and accessibility. Asking price: $5,608,000, 7.25% cap rate, $406,608 NOI.

Property Details for 236 Pike

Property type
Retail properties, Retail space
Square Feet
12,100 SF
Year Built
2019
Buildings
1
Stories
1
Lot Size (sq. ft)
68,389 SF
Units
1

Location Insight

City
Sumter
County
Sumter
State
South Carolina
Latitude
33.946002
Longitude
-80.3508381
236 Pike, Sumter, South Carolina

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236 Pike
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