3221 Martin Luther King Jr BlvdAnderson, SC 29625

Property Details for 3221 Martin Luther King Jr Blvd

Year built

1992

Lot size

0.72 AC

Property size (Sq ft)

9,754 SF

Property type

Retail properties

Property subtype

Retail space

APN

121-25-02-011

APU

1212502011

Description

This exceptional 9,747-square-foot retail storefront at 3221 Martin Luther King Jr. Blvd in Anderson, South Carolina, presents a compelling investment opportunity. Boasting a 6.31% cap rate and a strong NOI of $155,952, this single-tenant property offers significant potential. The building sits on a 0.72-acre lot and benefits from a brand-new 10-year lease with a corporate tenant, ensuring consistent income and minimal landlord responsibilities. Located in a high-growth area along the I-85 corridor in Upstate South Carolina, this outparcel property enjoys exceptional visibility, situated across from Anderson Mall and just off Clemson Boulevard, a major retail artery with 34,000 vehicles per day. Martin Luther King Jr. Boulevard itself sees 14,400 vehicles daily. Rent increases are built into the lease, occurring every five years. The property's prime location and long-term lease make it an ideal addition to any investment portfolio. The asking price is $2,471,500. This is a one-story building with 100% occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $3,668,227

  6.5%

  $3,386,056

  7%

  $3,144,194

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,023,678

  Geo Method

  $2,023,678

• Alternative Use

  Use

  Valuation

  Residential

  $2,856,264

  Hospitality

  $2,616,323

  Educational

  $2,176,750

  Medical

  $2,251,612

  Retail

  $3,386,056

Location Insight

City

Anderson

County

Anderson

State

South Carolina

Latitude

34.5423

Longitude

-82.6708

CBSA code

24860

CBSA name

GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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