5208 Calhoun Memorial HwyEasley, SC 29640

Property Details for 5208 Calhoun Memorial Hwy

Year built

1993

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.65 AC

Property size (Sq ft)

7,932 SF

Zone code

GENERAL COMMERCIAL DIST

Property type

Strip malls

Property subtype

Neighborhood centers

APN

5039-17-12-9210

APU

503917129210

Description

This exceptional investment opportunity, Shoppes on Calhoun, presents a 7,972 square foot shopping center in Easley, South Carolina, currently boasting 100% occupancy with four tenants. The property, built in 1993 and renovated in 2017, sits on a 1.51-acre lot and features a strong Net Operating Income (NOI) of $235,890, resulting in a 6.50% cap rate. The asking price is $3,630,000. Tenants are credit-rated, including franchisees and corporate guarantees, ensuring financial stability. The lease type is NNN, and lease terms are available upon request. Recent capital improvements include a roof replacement (2016) and parking lot work (2024), minimizing immediate capital expenditure needs for the new owner. The property benefits from a prime location across from an Ingles Grocery Store and a new Chick-fil-A, enjoying high foot traffic and proximity to major retailers like Walmart, Academy Sports, Sam's Club, and Hamrick's, all within a one-mile radius. Placer AI data highlights the area's strong retail draw, with the nearby Walmart ranking highly nationally and regionally. The SC-153 extension project will further enhance accessibility. The surrounding area shows strong population growth (projected 1.22% annually through 2029) and high average household income ($88,135). The tenant mix includes resilient healthcare providers, offering services such as urgent care, physical therapy, and hearing care, making this a low-risk investment. Significant lease renewals and extensions, including a long-term lease with Bon Secours, demonstrate tenant commitment and the desirability of this location. The property's weighted average remaining lease term (WALT) is seven years, with built-in annual rent increases of 2% to 3%.

• CAP approach

  CAP return

  Valuation

  6%

  $2,983,020

  6.5%

  $2,753,557

  7%

  $2,556,874

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,645,665

  Geo Method

  $1,645,665

• Alternative Use

  Use

  Valuation

  Residential

  $2,322,728

  Hospitality

  $2,127,606

  Educational

  $1,770,144

  Medical

  $1,831,022

  Retail

  $2,753,557

Location Insight

City

Easley

County

Pickens

State

South Carolina

Latitude

34.8254

Longitude

-82.5597

CBSA code

24860

CBSA name

GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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