For Sale
$2,800,000

364 Longs Pond RdLexington, SC 29073

12,000 SF Shopping Center, 4.88% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 12,000-square-foot Class A shopping center in Lexington, South Carolina, presents a compelling investment opportunity. Boasting a 100% occupancy rate with five diverse tenants, including a gym and restaurant, this stabilized property generates a current NOI of $136,513, representing a 4.88% cap rate. The pro-forma NOI is projected at $168,000, yielding a 6.00% cap rate. Built in 2010, the single-story building sits on a 1.63-acre lot with ample parking (60 spaces). The property features a lease type of NNN, with rent bumps in place. The asking price is $2,800,000, translating to $233.33 per square foot. Located at 364 Longs Pond Rd, Lexington, SC 29073, this prime retail location benefits from its proximity to I-20's exit 51, within a rapidly expanding residential and commercial area. An end-cap drive-through is available, and awnings are scheduled for replacement in the fourth quarter. The property is offered as a 1031 exchange opportunity. This is an ideal investment for those seeking strong cash flow and significant upside potential in a high-growth market. The property's multi-tenant structure and flexible space provide long-term stability and future development possibilities. The APN is 006400-04-051.

Highlights

  • 12,000 SF Class A shopping center in Lexington, SC with 100% occupancy and five diverse tenants.
  • NNN leases with rent bumps, generating a current NOI of $136,513 (4.88% cap rate) and projected NOI of $168,000 (6.00% cap rate).
  • Located on a 1.63-acre lot with 60 parking spaces at 364 Longs Pond Rd, Lexington, SC 29073, near I-20 exit 51.
  • Asking price: $2,800,000 ($233.33/SF).
  • Built in 2010, single-story building with an end-cap drive-through; awning replacement scheduled Q4.
  • 1031 exchange opportunity; strong cash flow and upside potential in a high-growth area with strong demographics.

Property Details for 364 Longs Pond Rd

Property type
Lifestyle centers, Power centers
Square Feet
12,000 SF
Class
A
Year Built
2010
Buildings
1
Stories
1
Lot Size (sq. ft)
71,003 SF
Units
5

Location Insight

City
Lexington
County
Lexington
State
South Carolina
Latitude
33.920628600391
Longitude
-81.290284628285
364 Longs Pond Rd, Lexington, South Carolina

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
364 Longs Pond Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message