106 Parkway AveSummerville, SC 29483

Property Details for 106 Parkway Ave

Year built

2009

Construction

FRAME

Lot size

1.43 AC

Property size (Sq ft)

8,856 SF

Zone code

GB_SV

Property type

Turn key restaurants

APN

137-04-07-013

APU

1370407013

Description

This exceptional investment opportunity presents a thriving Japanese restaurant and retail space at 106 Parkway Ave, Summerville, SC 29483. The property boasts 8,856 square feet situated on a 1.43-acre lot, offering ample parking with 60 spaces. The building enjoys high visibility with approximately 156 feet of frontage on Berlin G Myers Parkway and 59 feet on Parkway Ave. Currently operating at 100% occupancy, the property is offered as a sale-leaseback with a credit-rated tenant under a triple-net (NNN) lease. The lease agreement includes a 10-year initial term with two 5-year renewal options, providing long-term stability and predictable income. The annual base rent is $144,000 ($12,000 per month). This property is ideally positioned within a thriving community, boasting over 23,000 households within a 3-mile radius. The property's combination of a strong tenant, favorable lease terms, and prime location makes it an attractive investment opportunity in the desirable Summerville market. The property is zoned for both restaurant and shopping center uses, offering flexibility for future development or expansion. The asking price for this exceptional property is $2,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,697,577

  6.5%

  $2,490,071

  7%

  $2,312,209

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,995,137

  Geo Method

  $3,779,181

• Alternative Use

  Use

  Valuation

  Residential

  $2,100,468

  Hospitality

  $1,924,017

  Educational

  $1,600,760

  Medical

  $1,655,812

  Retail

  $2,490,071

Location Insight

City

Summerville

County

Dorchester

State

South Carolina

Latitude

33.0234

Longitude

-80.167

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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