For Sale
$1,040,000

744 Greenlawn DrColumbia, SC 29209

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 5,088 square foot auto shop in Columbia, South Carolina, currently leased to a tenant with a corporate guarantee from Monro Inc., one of the nation's largest tire and auto service chains. The property boasts a 6.82% cap rate and a strong net operating income (NOI) of $70,959, with a lease expiring May 31, 2029, providing a remaining term of 4.5 years. The lease includes annual rent bumps of 3%, effectively hedging against inflation. Located at 744 Greenlawn Dr, Columbia, SC 29209, this strategically positioned retail property sits on a 1.13-acre lot and benefits from its proximity to major retailers like Walmart, Lowe's, and Harbor Freight. The property's high visibility and location within the second-largest MSA in South Carolina, coupled with projected job growth of 27.4% over the next 10 years, contribute to its significant investment potential. The tenant enjoys an impressive 4.7-star Google rating based on over 200 reviews, highlighting its strong local reputation and recession-resistant nature. The asking price is $1,040,000, translating to $204.40 per square foot. The property was built in 2013 and features a single tenant occupancy with a NNN lease structure. Lease options include one 5-year renewal. This is a compelling investment opportunity offering both strong current returns and future growth potential.

Highlights

  • 3% annual rent escalations built into the lease.
  • Monro Inc., a major national tire and auto service chain, provides a corporate guarantee on the lease.
  • Annual net rent is only $70,956, offering strong potential for future rent growth.
  • Excellent retail location near Highway 378, Walmart, Lowe's, Harbor Freight, and East Pointe Plaza.
  • Located in Columbia, SC, the state's second-largest MSA.
  • Columbia projects 27.4% job growth over the next decade.

Property Details for 744 Greenlawn Dr

Property type
Retail properties, Auto shops
Square Feet
5,088 SF
Year Built
2013
Lot Size (sq. ft)
49,223 SF

Location Insight

City
Columbia
County
Richland
State
South Carolina
Latitude
33.9670963
Longitude
-80.9479268
744 Greenlawn Dr, Columbia, South Carolina

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744 Greenlawn Dr
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