2185 Fraser StGeorgetown, SC 29440

  • Office properties
  • 4,859 SF
For Sale
$720,000 View listing

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
2185 Fraser St, Georgetown, South Carolina

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$9,579
$7,210
$27,290
$34,500
-
$120,200
$454,800
$575,000

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