1537 Charleston HwyWest Columbia, SC 29033

Property Details for 1537 Charleston Hwy

Year built

2007

Lot size

2.41 AC

Property size (Sq ft)

14,602 SF

Zone code

C2

Property type

Retail properties

Property subtype

Retail space

APN

005764-05-040

APU

576405040

Description

This exceptional investment opportunity presents a 14,820 square foot Walgreens located at 1537 Charleston Hwy, West Columbia, SC 29033. The property sits on a 2.36-acre lot and boasts a strong 7.25% cap rate with a Net Operating Income (NOI) of $332,000. This single-tenant, absolute triple-net (NNN) lease with Walgreens Boots Alliance offers a passive investment structure with the tenant responsible for all property expenses, including taxes, insurance, and maintenance. The lease, originally commencing June 18, 2007, has a remaining term of approximately 7.6 years, with fifty 1-year renewal options. Built in 2006, this one-story building benefits from a high-traffic location on Highway 321 (Charleston Hwy), experiencing 32,900 vehicles daily, and features a convenient drive-thru. The property's strategic location within a thriving retail corridor, near major retailers like Walmart and Dollar General, and its proximity to the Columbia Metropolitan Airport (CAE), ensures consistent customer traffic. West Columbia's steady population growth further strengthens the investment's long-term potential. The asking price is $4,580,000, translating to a price per square foot of $309.04. This is a rare opportunity to acquire a well-performing, low-maintenance, and highly desirable Walgreens property with a corporate guarantee.

• CAP approach

  CAP return

  Valuation

  6%

  $3,029,224

  6.5%

  $2,796,206

  7%

  $2,596,478

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,095,283

  Geo Method

  $6,231,211

• Alternative Use

  Use

  Valuation

  Residential

  $2,358,705

  Hospitality

  $2,160,561

  Educational

  $1,797,561

  Medical

  $1,859,382

  Retail

  $2,796,206

Location Insight

City

West Columbia

County

Lexington

State

South Carolina

Latitude

33.9712

Longitude

-81.0763

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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