2803 Maybank HwyJohns Island, SC 29455-4835

Property Details for 2803 Maybank Hwy

Year built

2000

Lot size

1.78 AC

Property size (Sq ft)

9,798 SF

Property type

Retail properties

Property subtype

Retail space

APN

313-00-00-165

APU

3130000165

Description

This exceptional investment opportunity presents a 9,798 square foot CVS Pharmacy located at 2803 Maybank Highway on Johns Island, South Carolina. The property boasts a strong 4.75% cap rate and a substantial net operating income (NOI) of $205,600. The lease is an absolute triple-net (NNN) structure, providing investors with significant protection. With a remaining lease term of over 10.6 years, extending to June 30, 2035, and featuring four 5-year renewal options with 5% rent bumps, this investment offers exceptional long-term stability and growth potential. The property sits on a 1.78-acre lot and was built in 1999. The tenant, CVS, is a Fortune 500 company with a corporate guarantee, providing significant creditworthiness and security. The location benefits from high visibility on Maybank Highway, experiencing over 26,000 vehicles per day, and is situated near a Harris Teeter-anchored retail center currently under development. Johns Island is a thriving community within the Charleston MSA, boasting an affluent population with an average household income exceeding $95,000 within a 5-mile radius, and is conveniently located less than 10 miles from downtown Charleston. This offering presents a rare opportunity to acquire a high-quality, net-leased property anchored by a creditworthy national tenant in a prime location. The asking price is $4,328,421, translating to a price per square foot of $441.77.

Location Insight

City

Johns Island

County

Charleston

State

South Carolina

Latitude

32.7428

Longitude

-80.0384

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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