364 Longs Pond RdLexington, SC 29073

Property Details for 364 Longs Pond Rd

Year built

2011

Lot size

1.63 AC

Property size (Sq ft)

12,204 SF

Zone code

ID

Property type

Retail properties

Property subtype

Strip malls

APN

006400-04-051

APU

640004051

Description

This exceptional 12,000-square-foot Class A shopping center in Lexington, South Carolina, presents a compelling investment opportunity. Boasting a 100% occupancy rate with five diverse tenants, including a gym and restaurant, this stabilized property generates a current NOI of $136,513, representing a 4.88% cap rate. The pro-forma NOI is projected at $168,000, yielding a 6.00% cap rate. Built in 2010, the single-story building sits on a 1.63-acre lot with ample parking (60 spaces). The property features a lease type of NNN, with rent bumps in place. The asking price is $2,800,000, translating to $233.33 per square foot. Located at 364 Longs Pond Rd, Lexington, SC 29073, this prime retail location benefits from its proximity to I-20's exit 51, within a rapidly expanding residential and commercial area. An end-cap drive-through is available, and awnings are scheduled for replacement in the fourth quarter. The property is offered as a 1031 exchange opportunity. This is an ideal investment for those seeking strong cash flow and significant upside potential in a high-growth market. The property's multi-tenant structure and flexible space provide long-term stability and future development possibilities. The APN is 006400-04-051.

Location Insight

City

Lexington

County

Lexington

State

South Carolina

Latitude

33.9207

Longitude

-81.2905

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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