1010 Old Highway 52Moncks Corner, SC 29461

Property Details for 1010 Old Highway 52

Year built

1983

Lot size

0.70 AC

Property size (Sq ft)

8,000 SF

Zone code

MONCKS CORNER - C-2

Property type

Super regional malls

APN

142-00-01-044

APU

1420001044

Description

This exceptional investment opportunity presents a fully leased shopping center in Moncks Corner, South Carolina, at 1010 Old Hwy 52, zip code 29461. Currently boasting a 100% occupancy rate and a strong net operating income (NOI) of $84,000, resulting in a compelling 6.46% capitalization rate, this multi-tenant property is priced at $1,300,000. The property primarily operates under gross lease agreements, offering a significant upside potential. As lease renewals approach in 2024, there's a prime opportunity to transition to triple-net (NNN) leases and increase rental rates, currently slightly below market value. This presents a clear path to enhance profitability. The seller is also open to packaging this property with another fully leased strip mall located at 102 Berkeley Square Ln. in Berkeley County. This presents a unique opportunity to acquire a portfolio of stable, high-performing retail assets in a desirable South Carolina location. This is an excellent opportunity for investors seeking strong cash flow and future appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,436,836

  6.5%

  $2,249,386

  7%

  $2,088,716

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,802,292

  Geo Method

  $3,413,894

• Alternative Use

  Use

  Valuation

  Residential

  $1,897,442

  Hospitality

  $1,738,046

  Educational

  $1,446,034

  Medical

  $1,495,766

  Retail

  $2,249,386

Location Insight

City

Moncks Corner

County

Berkeley

State

South Carolina

Latitude

33.1849

Longitude

-80.0007

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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