For Sale
$2,800,000

5551 Sunset BlvdLexington, SC 29072

High-traffic retail center, strong lease, great ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 5,341 square foot retail center in Lexington, SC, presents a compelling investment opportunity. Located at 5551 Sunset Blvd, this single-story, 2-unit shopping center boasts a prime location with high visibility, situated near major retailers like Starbucks, Chick-fil-A, and Walmart, ensuring significant foot traffic. The property features a strong, renewed lease with a credit-rated medical tenant, providing stable income. The lease is a triple-net (NNN) lease with a 3.75% annual rent bump, extending to July 31, 2034, offering a remaining term of 9.7 years. The property underwent renovations in 2023 and sits on a 0.59-acre lot. The asking price is $2,800,000, representing a 6.14% cap rate and a NOI of $172,000. One unit is currently vacant, presenting an ideal owner-user opportunity or potential for additional leasing to medical, retail, or flex tenants. The property's institutional investment type and owner/user sub-type make it an attractive option for various investors. The ground lease is in place. This is a rare chance to acquire a high-performing retail asset in a thriving market. The property's location and tenant mix provide exceptional potential for long-term growth and profitability.

Highlights

  • High-traffic location with excellent visibility for retail businesses.
  • Strong co-tenancy with Starbucks, Chick-fil-A, and Walmart, driving significant foot traffic.
  • Triple Net (NNN) lease structure.
  • Medical office building with an anchor tenant.

Property Details for 5551 Sunset Blvd

Property type
Lifestyle centers, Power centers
Square Feet
5,341 SF
Year Renovated
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
25,700 SF
Units
2

Location Insight

City
Lexington
County
Lexington
State
South Carolina
Latitude
33.996064697065
Longitude
-81.222818927792
5551 Sunset Blvd, Lexington, South Carolina

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5551 Sunset Blvd
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