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426 Fairforest WayGreenville, SC 29607

High-Yield Retail Investment, SC

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional retail investment opportunity encompasses two strategically located properties in South Carolina: 426 Fairforest Way, Greenville (Greenville County, zip 29607), and 215 Stoneridge Dr, Columbia (Richland County, zip 29210). The portfolio boasts a combined 6,716 to 34,284 square feet of retail space, situated on a total of 0.66 to 2.81 acres of land. Built between 1978 and 1998, these properties offer a strong foundation for continued success. The current lease agreement has 13 years remaining, expiring August 14, 2037, providing long-term stability and predictable cash flow. The properties generate a substantial net operating income (NOI) of $460,504, representing a compelling 6.75% capitalization rate. With a price per square foot of $198.99, this portfolio presents a rare opportunity to acquire high-quality retail assets in thriving South Carolina markets. Ample parking is available, with 119 spaces across both locations. The properties are identified by APN numbers 07212-03-05 and M012030100112. This investment offers a unique blend of established income and significant long-term growth potential in two dynamic South Carolina cities, known for their strong economies and favorable business climates. The Greenville location benefits from excellent highway access, proximity to Greenville Spartanburg International Airport, and a robust business environment attracting numerous Fortune 500 companies and international businesses. Columbia's central location provides easy access to major markets via air, land, and sea, supported by a highly skilled workforce and strong highway connectivity.

Highlights

  • 13-year remaining lease term on a 17-year lease.
  • Lease expires August 15, 2037.
  • Annual lease rate of $85,993.44 for one property and $374,510.88 for the other.
  • Net rent of $12.80/SF for one property and $10.92/SF for the other.
  • $460,504 annual net operating income (NOI) and a 6.75% capitalization rate.
  • 6,716 to 34,284 square feet of retail space on 0.66 to 2.81 acres of land, with 119 parking spaces.

Property Details for 426 Fairforest Way

Property type
Retail properties
Square Feet
6,716 SF
Year Built
1978
Lot Size (sq. ft)
28,750 SF

Location Insight

City
Greenville
County
Greenville
State
South Carolina
Latitude
34.7918595
Longitude
-82.3482151
426 Fairforest Way, Greenville, South Carolina

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426 Fairforest Way
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