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7467 St Andrews RdIrmo, SC 29063

Grocery-anchored center, high NOI, value-add potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 99,384 square foot retail property in Irmo, South Carolina, presents a compelling investment opportunity. The center boasts a strong anchor tenant in Kroger, the largest pure-play grocer in the U.S., which recently exercised its option, demonstrating long-term commitment. With 17 tenants, including Pet Supplies Plus and Orangetheory Fitness, the property enjoys a 96% occupancy rate and a substantial net operating income (NOI) of $1,226,000. Built in 1980, this two-building, single-story center sits on 13.8 acres and features 19 units. Kroger's strong sales, exceeding $49 million ($850+ per square foot), and its position as a top 3% grocer in South Carolina, along with high traffic rankings, underscore the property's exceptional performance. The center benefits from its prime location in Lexington County, a high-income suburb of the Columbia market, and its proximity to Irmo Elementary School. Two vacant units offer immediate upside potential through lease-up, while below-market rents on smaller shops provide near-term NOI growth opportunities. This grocery-anchored asset combines stability with significant value-add potential, making it a rare and attractive investment in one of the fastest-growing states in the U.S. High barriers to entry due to a lack of suitable sites further enhance its desirability.

Highlights

  • 99,384 SF retail property in Irmo, SC, with a 96% occupancy rate and $1,226,000 NOI.
  • Kroger-anchored center, with Kroger recently exercising its option and exceeding $49 million in sales.
  • Located in Lexington County, a high-income suburb of the Columbia market, adjacent to Irmo Elementary School.
  • High barriers to entry due to a lack of suitable sites in the area.
  • Two vacant units offer immediate lease-up potential, and below-market rents on some shops provide near-term NOI growth.

Property Details for 7467 St Andrews Rd

Property type
Lifestyle centers, Power centers
Square Feet
99,384 SF
Year Built
1980
Buildings
2
Stories
1
Lot Size (sq. ft)
601,128 SF
Units
19

Location Insight

City
Irmo
County
Lexington
State
South Carolina
Latitude
34.08597448
Longitude
-81.18561764
7467 St Andrews Rd, Irmo, South Carolina

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7467 St Andrews Rd
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