For Sale
$4,092,000

1933 2Nd Loop RdFlorence, SC 29501

Corporate-leased medical building, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple interest (land and building) in a 17,174 square foot, NNN-leased medical storefront located at 1933 2nd Loop Rd, Florence, SC 29501. The property, built in 1970 and renovated in 2017, sits on a 3.38-acre lot and boasts 171 parking spaces. Currently 100% occupied by LFB Plasma, a corporate-guaranteed tenant, under a lease with 8+ years remaining until 11/30/2032, with four 5-year renewal options. The lease features a 10% rent increase in year 11 and at the start of each option period, providing built-in rent growth and inflation protection. The property's strong NOI of $286,440 yields a 7.00% cap rate on the asking price of $4,092,000. Its strategic location along 2nd Loop Road offers excellent visibility and accessibility, benefiting from high daily traffic counts and proximity to major highways (US 76, I-95, I-20). The property is situated within a thriving retail area, near significant shopping centers such as Southpark Center, Southside Commons, and Magnolia Mall, and is surrounded by strong national retailers including Food Lion, CVS, Walmart, Lowe's, Sam's Club, Home Depot, Kohl's, and Target. Furthermore, the property benefits from a substantial residential population within a 5-mile radius, including numerous single-family and multi-family communities. The permitted zoning is AC. This low-management investment offers significant long-term value and passive income potential.

Highlights

  • 8+ Years Remaining on Corporate Lease with Scheduled Rent Increases.
  • Fee Simple Ownership with NNN Lease, minimizing landlord responsibilities.
  • Strong demographics and direct residential consumer base within a 5-mile radius.
  • High-traffic retail area anchored by major shopping centers and Regency Hospital - Florence.
  • Excellent visibility and accessibility on heavily trafficked 2nd Loop Road.

Property Details for 1933 2Nd Loop Rd

Property type
Retail properties, Retail space
Square Feet
17,174 SF
Year Built/Renovated
1970/2017
Buildings
1
Lot Size (sq. ft)
147,233 SF

Location Insight

City
Florence
County
Florence
State
South Carolina
Latitude
34.1720428
Longitude
-79.8015755
1933 2Nd Loop Rd, Florence, South Carolina

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1933 2Nd Loop Rd
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