2515 Main StSummerville, SC 29486

Property Details for 2515 Main St

Year built

2019

Property size (Sq ft)

3,500 SF

Zone code

GOOSE CREEK - PD

Property type

Retail properties

Property subtype

Drive through restaurants

APN

222-00-00-212

APU

2220000212

Description

This exceptional investment opportunity presents a 3,500-square-foot freestanding Sherwin-Williams store in Summerville, South Carolina. Located at 2515 N Main St, this single-tenant, net-lease property sits on a 0.53-acre lot within the thriving Carnes Crossroads development, a planned community encompassing 4,500 residential units and various commercial amenities. The property boasts a strong 10-year net lease, commencing September 1, 2019, and expiring August 31, 2029, with a remaining lease term of approximately 4.7 years. The lease includes eight five-year renewal options, each with an 8% rent increase. The building, constructed in 2019, currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $101,590 and a 5.50% cap rate. The asking price is $1,847,090. The property's prime location benefits from high visibility on N Main Street, experiencing a significant daily traffic volume. Nearby retailers include East Bay Deli, Dunkin’ Donuts, Polly’s Fine Jewelry, Jersey Mike’s, Fleet Feet, and others, further enhancing the property's desirability and investment potential. This is a rare opportunity to acquire a well-performing, net-leased retail property anchored by a national brand in a rapidly growing community. The property's strong tenant, long-term lease, and favorable location make it an attractive addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,066,116

  6.5%

  $984,107

  7%

  $913,813

• Comparable approach

  Method

  Valuation

  Relative Method

  $788,503

  Geo Method

  $1,493,579

• Alternative Use

  Use

  Valuation

  Residential

  $830,131

  Hospitality

  $760,395

  Educational

  $632,640

  Medical

  $654,397

  Retail

  $984,107

Location Insight

City

Summerville

County

Berkeley

State

South Carolina

Latitude

33.058

Longitude

-80.097

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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