700 Main StDuncan, SC 29334

Property Details for 700 Main St

Year built

1994

Construction

CONCRETE BLOCKS

Lot size

8.08 AC

Property size (Sq ft)

3,850 SF

Property type

Retail properties

Property subtype

Community centers

APN

5-2000-04002

APU

5200004002

Description

This exceptional mixed-use property, located at 700 East Main Street in Duncan, South Carolina, presents a compelling investment opportunity within the thriving Greenville/Spartanburg MSA. The 64,075-square-foot property comprises a climate-controlled self-storage facility and a retail center, offering a diversified income stream. The complex features six buildings on approximately 7.19 acres, housing 254 storage units, including 200 climate-controlled units, and nine retail suites, one of which is currently occupied by a Dollar Tree. Built in 1994, the property boasts a strong 90% occupancy rate as of September 30, 2024, with a remaining lease term of five years for the existing tenants. The property benefits from a gross lease structure and allows for rent bumps, providing potential for increased revenue. The property is classified as Class B and is zoned DT-3. With a current cap rate of 6.50% and a pro-forma cap rate of 7.00%, this stabilized investment offers significant upside potential. The property's prime location and the inclusion of both self-storage and retail components create a highly desirable and resilient investment asset. The fee-simple ownership provides complete control and flexibility. This is a rare opportunity to acquire a well-performing, mixed-use property in a rapidly growing market. The property's strong performance, combined with its strategic location and potential for future growth, makes it an ideal addition to any investment portfolio. The asking price is $7,800,000.

Location Insight

City

Duncan

County

Spartanburg

State

South Carolina

Latitude

34.9278

Longitude

-82.1233

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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