For Sale
$1,238,000

253 Columbia AveBatesburg-Leesville, SC 29006

Net-leased Advance Auto Parts; strong tenant, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a 7,000 square foot, Class A, single-tenant retail building in Batesburg-Leesville, South Carolina. The property is net-leased to Advance Auto Parts, a publicly traded company (NYSE: AAP) with a market capitalization exceeding $3.937 billion and an S&P credit rating of BBB-. The current lease boasts a 10-year term with a 10% rent increase every five years, providing significant long-term income growth. The building, constructed in 2002, sits on a 0.78-acre lot and enjoys 100% occupancy. The property's strong financial performance is reflected in its 5.75% cap rate and a substantial net operating income (NOI) of $71,190. Landlord responsibilities include roof, structure, parking lot, and shared HVAC replacement costs. The property's prime location is an outparcel to KJ's IGA Market and within a mile of other national retailers, including Walgreens, KFC, Zaxby's, Bojangles, and McDonald's. Its proximity to the Batesburg-Leesville Industrial Park, a 175-acre development with recent infrastructure improvements, further enhances its value. The thriving Columbia, SC market, characterized by affordable housing and a large student population (driven by 12 area colleges and universities), contributes to the property's strong investment potential. The lease includes two 5-year renewal options. This is a rare opportunity to acquire a high-performing, net-leased property with a strong tenant and significant upside potential. The asking price is $1,238,000, translating to $176.86 per square foot.

Highlights

  • Corporate NNN lease with Advance Auto Parts; 10-year term, 10% rent increases every 5 years. Landlord responsible for roof, structure, parking lot, and shared HVAC. Tenant has been at this location for 20 years.
  • Investment-grade tenant: Advance Auto Parts (NYSE: AAP), market cap exceeding $3.937 billion, S&P credit rating of BBB-, over 5,200 stores nationwide.
  • Prime retail location: Outparcel to KJ's IGA, near Walgreens, KFC, Zaxby's, Bojangles, and McDonald's.
  • Strong Columbia, SC market: Average home price $162,300 (35% below national average), significant growth, 12 colleges/universities (including USC with 34,000+ students), population 137,541.
  • Five-minute drive from 175-acre Batesburg-Leesville Industrial Park; $3.5 million in recent infrastructure improvements, tenants include Fisher Tank Company and C.R. Jackson's asphalt plant.

Property Details for 253 Columbia Ave

Property type
Retail properties, Retail space
Square Feet
7,000 SF
Class
A
Year Built
2002
Buildings
1
Stories
1
Lot Size (sq. ft)
33,977 SF

Location Insight

City
Batesburg-Leesville
County
Lexington
State
South Carolina
Latitude
33.908409761096
Longitude
-81.536092011442
253 Columbia Ave, Batesburg-Leesville, South Carolina

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253 Columbia Ave
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