2887 David H Mcleod BlvdFlorence, SC 29501

Property Details for 2887 David H Mcleod Blvd

Year built

1990

Lot size

11.67 AC

Property size (Sq ft)

102,234 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 102,234 square foot shopping center in Florence, South Carolina presents a compelling investment opportunity. Boasting a strong 91% occupancy rate and a robust NOI of $1,346,000, this single-story, 1990-built property offers significant upside potential. Anchored by national tenants including PetSmart, Michaels, and Men's Warehouse, the center benefits from a total of 14 tenants across 19 units. The property sits on an 11.67-acre lot at 2887 David H McLeod Blvd, enjoying prime visibility at the intersection of I-95 and I-20, with daily traffic counts exceeding 17,000 vehicles on David H McLeod Blvd, 50,454 on I-95, and 31,526 on I-20. Recent leasing success, including a new Michaels lease at a significantly higher rent, demonstrates strong market demand. The well-maintained property features a recently resealed and restriped parking lot and landscaping. Staggered lease expirations provide income stream stability. This synergistic retail environment benefits from proximity to Magnolia Mall and Target, driving consistent foot traffic. The expansive trade area encompasses over 300,000 people within a 45-minute drive. The asking price is $16,825,000, representing a compelling 8.00% cap rate. The property's APN is 00099-01-080.

Location Insight

City

Florence

County

Florence

State

South Carolina

Latitude

34.1922

Longitude

-79.8384

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