1235 Chapin RdChapin, SC 29036

Property Details for 1235 Chapin Rd

Year built

2016

Lot size

12.16 AC

Property size (Sq ft)

46,031 SF

Zone code

GC

Property type

Retail properties

Property subtype

Strip malls

APN

000721-02-017

APU

72102017

Description

Exceptional commercial land investment opportunity in Chapin, South Carolina, available in parcels ranging from 0.84 to 4.45 acres. This property is part of the high-performing Chapin Crossings Shopping Center, anchored by a Publix supermarket that boasts some of the best sales figures in the Carolinas since its opening in Q3 2016. The center also features a strong lineup of national tenants including Anytime Fitness, Pacific Dental, Marco's Pizza, Jersey Mike's, and Verizon Wireless. These businesses benefit from a wider-than-average customer draw due to the surrounding lakefront residential areas. A new building was added to the center in Q3 2018. The location is ideal, situated in the heart of downtown Chapin near Lake Murray, a high-growth market. The property is zoned for General Commercial use and presents excellent potential for various businesses, including retail, fast food, medical/urgent care, pet supply stores, banks/credit unions, and restaurants (breakfast and dinner). The area's economic strength is further enhanced by the presence of Samsung's new home appliance manufacturing facility in nearby Newberry, employing approximately 800 workers. High traffic counts of 13,400 vehicles per day (VPD, 2021) underscore the significant visibility and accessibility of this location. This is a rare opportunity to acquire land in a thriving, established commercial center.

• CAP approach

  CAP return

  Valuation

  6%

  $10,176,401

  6.5%

  $9,393,601

  7%

  $8,722,629

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,487,642

  Geo Method

  $19,643,122

• Alternative Use

  Use

  Valuation

  Residential

  $7,923,854

  Hospitality

  $7,258,208

  Educational

  $6,038,744

  Medical

  $6,246,425

  Retail

  $9,393,601

Location Insight

City

Chapin

County

Lexington

State

South Carolina

Latitude

34.1645

Longitude

-81.3522

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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