2577 North RdOrangeburg, SC 29118

Property Details for 2577 North Rd

Year built

2023

Lot size

0.77 AC

Property size (Sq ft)

2,305 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a newly constructed (2023) Starbucks located on a signalized corner in Orangeburg, South Carolina. The 2,305 square foot building sits on a 0.77-acre lot and benefits from a 10.3-year net lease (NN+) with a credit-rated, corporate-guaranteed tenant. The lease commenced November 10, 2023, and has a remaining term of 9.5 years, expiring February 28, 2034. The property boasts a strong 6.00% cap rate and a current NOI of $126,000. Rental increases are built into the lease. This prime location enjoys high visibility and accessibility with over 29,100 vehicles passing daily. Situated near major retailers like Walmart, Lowe's, and T.J. Maxx, and adjacent to Prince of Orange Mall, this Starbucks benefits from significant crossover traffic. Its proximity to South Carolina State University further enhances its appeal. The property's location offers excellent access to Downtown Columbia, the state capital. This investment is structured for a 1031 exchange. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any portfolio. The high traffic count and surrounding retail density ensure consistent customer flow. Projected growth in the surrounding area further supports the long-term value of this investment.

Location Insight

City

Orangeburg

County

Orangeburg

State

South Carolina

Latitude

33.5248

Longitude

-80.8875

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