For Sale
$1,380,000

1360 Whittaker PkwyOrangeburg, SC 29115

High-yield, net-leased auto shop.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 10,370-square-foot auto shop in Orangeburg, South Carolina, currently leased to a credit-rated tenant, Classic Collision, under a triple-net (NNN) lease. The lease commenced April 30, 2021, and has a remaining term of approximately 6.4 years, with three 5-year renewal options extending to April 30, 2031. The property boasts a strong 7.13% cap rate and a current NOI of $98,400, based on a monthly rent of $8,000 ($96,000 annually) with 7.5% rent escalations at years 5, 10, and 15. The asking price is $1,380,000, translating to $133.08 per square foot. The tenant is responsible for all operating expenses, including taxes and insurance, while the landlord is responsible only for the building's structure (exterior walls, floors, slab, foundation, and roof). Located on a 3.79-acre lot at 1360 Whittaker Pkwy, Orangeburg, SC 29115, the single-story, 1992-built property also features two billboards generating approximately $2,400 in annual supplemental income. Classic Collision, a significant national player with over 220 locations across 15 states, ensures a stable and growing tenant base. This is a prime opportunity for a passive income investment with significant long-term potential. The property's APN is 0182-17-03-010.

Highlights

  • $1,380,000 asking price for this 10,370 SF net-leased retail property.
  • 7.13% cap rate with a $98,400 annual NOI.
  • Located at 1360 Whittaker Pkwy, Orangeburg, SC 29115, on a 3.79-acre lot.
  • 10-year net lease to credit-rated Classic Collision, with 6.4 years remaining and three 5-year renewal options.
  • Tenant responsible for all expenses except building structure (exterior walls, floors, slab, foundation, and roof).

Property Details for 1360 Whittaker Pkwy

Property type
Retail properties, Auto shops
Square Feet
10,370 SF
Year Built
1992
Buildings
1
Stories
1
Lot Size (sq. ft)
165,092 SF
Units
1

Location Insight

City
Orangeburg
County
Orangeburg
State
South Carolina
Latitude
33.489215590789
Longitude
-80.830449493247
1360 Whittaker Pkwy, Orangeburg, South Carolina

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1360 Whittaker Pkwy
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