For Sale
$1,557,927

902 Greenwood StAbbeville, SC 29620

High-yield CVS Pharmacy, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 9,801 square foot CVS Pharmacy located at 902 W Greenwood St, Abbeville, SC 29620. Situated on a 1.93-acre lot, this property boasts a convenient drive-thru. The property features a strong, absolute NNN ground lease with minimal landlord responsibilities, ensuring a passive income stream. The current lease with CVS Pharmacy extends to January 1, 2031, providing over six years of remaining lease term, plus ten five-year renewal options. The asking price is $1,557,927, reflecting an attractive 11.25% capitalization rate based on a Net Operating Income (NOI) of $175,266. Importantly, a three-year rent holiday commences February 1, 2028, a factor already considered in the aggressive pricing strategy. This single-tenant, 100% occupied property offers a secure and lucrative investment prospect in a stable market. The property's location in Abbeville County, South Carolina, provides excellent visibility and accessibility. This is a rare chance to acquire a high-performing, low-maintenance retail asset with significant long-term potential.

Highlights

  • 9,801 SF CVS Pharmacy on a 1.93-acre lot with drive-thru.
  • Aggressive pricing reflecting an 11.25% cap rate.
  • Over six years remaining on the lease term.
  • Absolute NNN ground lease with minimal landlord responsibilities.
  • Three-year rent holiday starting 2/1/2028, factored into pricing.

Property Details for 902 Greenwood St

Property type
Retail properties, Drug stores
Square Feet
9,801 SF
Buildings
1

Location Insight

City
Abbeville
County
Abbeville
State
South Carolina
Latitude
34.1611173
Longitude
-82.3843754
902 Greenwood St, Abbeville, South Carolina

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902 Greenwood St
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