For Sale
$1,235,000

605 Church StSwansea, SC 29160

Family Dollar Net Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar store located at 605 N Church St, Swansea, SC 29160. The property, built in 2008 and renovated in 2008 and 2023, boasts 9,180 square feet on a 0.85-acre lot. The current lease, with a corporate guarantee from Dollar Tree (S&P BBB rating), extends until December 31, 2033, offering a remaining term of 9.1 years. The lease includes 10% rent bumps every five years, significantly increasing the property's value over time. The tenant pays a net rent of $9.75 per square foot, generating a strong net operating income (NOI) of $89,540 and a 7.25% cap rate. The property benefits from its location within the Columbia MSA, a thriving market with approximately 829,000 residents and strong population growth in the surrounding Lexington County. The property's strong demographics, including an average household income of $71,847 within a 1-mile radius projected to grow 4.4% annually through 2029, further enhance its investment appeal. The limited landlord responsibilities (roof and structure only) minimize operational burdens. This is a fee-simple ownership opportunity with significant long-term growth potential. The asking price is $1,235,000.

Highlights

  • Dollar Tree, a Fortune 137 company with an S&P BBB investment-grade credit rating, is the anchor tenant.
  • Family Dollar, a Dollar Tree subsidiary, recently extended its lease for ten years to December 2033, including 10% rent increases every five years.
  • The net lease features limited landlord responsibilities (roof and structure only), with a tenant rent of $9.75 PSF.
  • Located in Swansea, SC, a 40-minute drive from the Columbia MSA (829,000 residents), the property benefits from Lexington County's population growth.
  • The property serves a large trade area: 232,000 people within 30 minutes, with a $71,847 average household income within 1 mile, projected to grow 4.4% annually through 2029.

Property Details for 605 Church St

Property type
Retail properties, Retail space
Square Feet
9,180 SF
Year Built/Renovated
2008/2008
Buildings
1
Stories
1
Lot Size (sq. ft)
37,026 SF

Location Insight

City
Swansea
County
Lexington
State
South Carolina
Latitude
33.7432605
Longitude
-81.0982179
605 Church St, Swansea, South Carolina

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605 Church St
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