Listing Agency: ERA Wilder Realty Inc. - Columbia Show Phone

Listed By: David Brock · License #58004 Show Phone

Source: Moodyscre

Added: Feb 16, 2023 Changed: Oct 26 Last Checked: Oct 28 at 12:22PM

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Investment Insights

Based on property information with market context.

This is a 3,789 square foot retail restaurant building constructed in 2010 on a 3.11-acre lot. It presents a business opportunity as the only restaurant on Lake Wateree with a dock. The dock includes 16 boat slips. The property features a large outside cabana with picnic tables, flat screens, and a top-of-the-line kitchen. It also includes a full-service bar with built-in glass door refrigeration.

Key Highlights

• Only restaurant on Lake Wateree with a dock and 16 boat slips.
• Turnkey restaurant business opportunity.
• 3,789 SF Retail Restaurant Building.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,228

Cap Rate

4.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,224,560 $1.2M

Cap Rate 7%

$874,686 $874.7K

Cap Rate 9%

$680,311 $680.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,789 SF

Gross rent

$86.4K $22.80/SF

− Vacancy

−$4.8K −$1.25/SF

EGI

$81.6K $21.55/SF

− OpEx

−$20.4K −$5.39/SF

NOI

$61.2K $16.16/SF

Area

Fairfield County, SC

Vacancy

5.50%

Lease Rate

$22.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,224,560

Cap Rate 7%

$874,686

Cap Rate 9%

$680,311

Alternative Uses

Best Use

Specialty Retail

$874.7K

$765.4K – $1.02M (±1% cap)

NOI $61,228 @ 7.0% cap · market cap 4.90%

Second Best

Retail

$769.3K

$673.2K – $897.5K (±1% cap)

NOI $53,852 @ 7.0% cap · market cap 4.31%

Theoretical Best

Office A

$933.0K

$816.4K – $1.09M (±1% cap)

NOI $65,310 @ 7.0% cap · market cap 5.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Restaurants

Suggested Use

Top Pick Parking Lot & Garage Building Supply (Bike/Boat/Book/etc) Store Auto Repair Shop Hair Salon Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

83

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Restaurant - Restaurant building with dock, boat slips, and outdoor cabana.

Where is this restaurant located?

The property is located at 103 Doe Run Ln Sec 10 Ridgeway, SC.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: Only restaurant on Lake Wateree with a dock and 16 boat slips.; Turnkey restaurant business opportunity.; 3,789 SF Retail Restaurant Building.