For Sale
$2,995,000

219 Cedar StSummerville, SC 29483

NNN Lease, High ROI, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use investment property in downtown Summerville, SC, offers a compelling opportunity for discerning investors. Located at 219 & 217 S Cedar St, this property consists of two buildings, totaling 3,831 square feet, and features a thriving bar and restaurant tenant under a 10-year NNN lease with two 5-year renewal options, commencing April 30, 2024. The lease provides a stable income stream with a current NOI of $135,645 and a 4.53% cap rate. Adding to the property's value are two fully furnished, short-term rental apartments located above one of the buildings, generating significant additional income. These units, a studio and a one-bedroom, are frequently booked. The property boasts a 100% occupancy rate and underwent renovations in 2023. Situated across from the new Bonaire Park and in Hutchinson Square, this property benefits from increased foot traffic and the revitalization of the downtown area. The property's prime location, strong tenant, and additional rental income streams make it an ideal investment with significant potential for both immediate returns and long-term appreciation. The zoning is D-Mx_Sv, and the property features two stories. This is a rare opportunity to acquire a high-performing, mixed-use asset in a rapidly growing market.

Highlights

  • Prime downtown Summerville location at 219 & 217 S Cedar St.
  • 3,831 square foot mixed-use building with a thriving bar/restaurant tenant under a 10-year NNN lease (two 5-year options starting April 30, 2024).
  • Strong current NOI of $135,645 and a 4.53% cap rate.
  • Two fully furnished short-term rental apartments (studio & one-bedroom) with 100% occupancy.
  • Recently renovated (2023) and situated across from the new Bonaire Park and Hutchinson Square, benefiting from increased foot traffic.
  • D-Mx_Sv zoning.

Property Details for 219 Cedar St

Property type
Retail properties, Restaurants
Square Feet
3,831 SF
Year Renovated
2023
Buildings
2
Stories
2
Units
4

Location Insight

City
Summerville
County
Dorchester
State
South Carolina
Latitude
33.019184683946
Longitude
-80.17810934784
219 Cedar St, Summerville, South Carolina

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219 Cedar St
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