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1620 Highmarket StGeorgetown, SC 29440

High-yield grocery portfolio, 87% occupied

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional value-add retail investment opportunity comprises a three-property grocery portfolio totaling 132,986 square feet across 16.16 acres in South Carolina and Georgia. The portfolio boasts a strong tenant mix, anchored by established grocers Piggly Wiggly and Food Lion, with a total of eight tenants currently occupying 87% of the space. A significant lease-up opportunity exists, with approximately 7,540 square feet of vacant space presenting a clear path to substantial NOI growth. The Piggly Wiggly anchor, operated by Lowcountry Grocers, has a long-standing presence (over 21 years) and demonstrates a commitment to the local community. The portfolio benefits from high visibility along major thoroughfares, including Highway 521, experiencing over 19,500 vehicles per day, capitalizing on significant tourism spending in Georgetown County exceeding $380 million annually. Food Lion, another key anchor, shows strong year-over-year sales growth, providing further confidence in the portfolio's stability. With existing leases expiring in 2026 and 2027, and the potential for additional development on two 1.5-acre outparcels, this portfolio offers a compelling combination of immediate income and long-term growth potential. The portfolio's location in a market with limited grocery competition further enhances its attractiveness to investors seeking strong returns. This is a rare opportunity to acquire a well-positioned, income-producing grocery portfolio with significant upside potential.

Highlights

  • Piggly Wiggly-anchored center with over 21 years of remaining lease term.
  • 7,540 SF vacancy allows for significant NOI growth (nearly 50%) via one lease.
  • High visibility location on Hwy 521, exceeding 19,500 VPD, serving beach tourists; Georgetown County tourism exceeds $380M annually.
  • Experienced, local grocery operator (Lowcountry Grocers) with 14 other stores.
  • Near-term NOI growth opportunity with two leases expiring in 2026 and 2027 (1,900 SF available).
  • Limited grocery competition; only grocery option within a 5-mile radius.

Property Details for 1620 Highmarket St

Property type
Retail properties, Grocery and convenience stores
Square Feet
132,986 SF
Lot Size (sq. ft)
703,930 SF

Location Insight

City
Georgetown
County
Georgetown
State
South Carolina
Latitude
33.3762535
Longitude
-79.2911379
1620 Highmarket St, Georgetown, South Carolina

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1620 Highmarket St
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