2185 Fraser StGeorgetown, SC 29440
- Office properties
- 4,859 SF
Property Details for 2185 Fraser St
- Year built
- 1986
- Construction
- BRICK
- Lot size
- 1.00 AC
- Property size (Sq ft)
- 4,859 SF
- Property type
- Office properties
- Property subtype
- Other office properties
- APN
- 02-0103-011-00-00
- APU
- 201030110000
Description
Exceptional investment opportunity in Georgetown, SC, featuring a fully renovated office building currently leased to a thriving childcare business. This NNN (Net, Net, Net) property boasts an 8.6% cap rate and is situated on a one-acre lot at 2185 N Fraser St. The building underwent significant renovations prior to the tenant's occupancy, ensuring a high-quality asset. The tenant is currently in the third year of a ten-year lease with annual rent increases of 2% commencing in year three. The lease further includes two ten-year renewal options, each with an additional 2% annual rent increase. This structure significantly mitigates risk and provides predictable, growing income. The tenant is responsible for all operating expenses, including ad valorem taxes, insurance, utilities, landscaping, and trash removal, minimizing landlord responsibilities. The property's strategic location near Georgetown Hospital adds to its appeal and long-term value. This is a rare opportunity to acquire a stable, high-yielding investment with significant upside potential. The property is priced at $695,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $853,721
- 6.5%
- $788,050
- 7%
- $731,761
-
Comparable approach
- Method
- Valuation
- Relative Method
- $510,059
- Geo Method
- $822,823
-
Alternative Use
- Use
- Valuation
- Residential
- $977,182
- Hospitality
- $895,093
- Educational
- $744,707
- Medical
- $770,319
- Retail
- $1,158,433
Location Insight
- City
- Georgetown
- County
- Georgetown
- State
- South Carolina
- Latitude
- 33.4056
- Longitude
- -79.2882
- CBSA code
- 23860
- CBSA name
- GEORGETOWN, SC MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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