Fully Occupied Shopping
For Sale
Contact for pricing
15740 N HWY 11, Salem, SC 29676
Fully leased shopping center offering 18,653 SF of retail space, situated on Lake Keowee.
Property Size18,653 SF
Price / SF$168.87
Days on Market147
Property Features for 15740 N HWY 11
General Information
Standard status
Active
Size
18,653 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Net Operating Income
$169,712
Building Details
Year Built
2007
Units
6
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Charleston
Listed By:
Benjamin Yelm · License #NC 303785
(843) 952-2300
Source:
Crexi
Added: Jun 2
Changed: Oct 25
Last Checked: Oct 26 at 4:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Charleston
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Investment Insights
Based on property information with market context.
This offering is a 100% occupied shopping center with 18,653 SF of retail space. The property is presented for sale as a turn-key, income-producing asset with existing tenant occupancy in place.
Located at 15740 N HWY 11 in Salem, SC, the center benefits from a prominent position on Lake Keowee. Its setting provides a distinct experiential environment for retail users and shoppers, while the established occupancy supports continuity of operations.
For buyers seeking a retail-focused acquisition with current leasing in place, the fully occupied configuration is an important factor to evaluate. The shopping center format can accommodate a range of neighborhood-serving retail uses, and the overall size provides flexibility for tenants within the existing space. Prospective purchasers and tenant/broker prospects can review the current tenancy and layout details to confirm fit for their business or investment objectives.
Located at 15740 N HWY 11 in Salem, SC, the center benefits from a prominent position on Lake Keowee. Its setting provides a distinct experiential environment for retail users and shoppers, while the established occupancy supports continuity of operations.
For buyers seeking a retail-focused acquisition with current leasing in place, the fully occupied configuration is an important factor to evaluate. The shopping center format can accommodate a range of neighborhood-serving retail uses, and the overall size provides flexibility for tenants within the existing space. Prospective purchasers and tenant/broker prospects can review the current tenancy and layout details to confirm fit for their business or investment objectives.
Key Highlights
- 18,653 SF shopping center built in 2007
- 100% occupied shopping center with fully leased retail space
- Shopping center on Lake Keowee
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,567
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,531,340
$4.5M
Cap Rate 7%
$3,236,671
$3.2M
Cap Rate 9%
$2,517,411
$2.5M
Market Conditions
NOI Build-Up for 18,653 SF
Gross rent
$335.8K $18.00/SF
− Vacancy
−$12.1K −$0.65/SF
EGI
$323.7K $17.35/SF
− OpEx
−$97.1K −$5.21/SF
NOI
$226.6K $12.15/SF
Area
Oconee County, SC
Vacancy
3.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,531,340
Cap Rate 7%
$3,236,671
Cap Rate 9%
$2,517,411
Alternative Uses
Best Use
Retail
$3.24M
$2.83M – $3.78M
NOI $226,567 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.68M
$4.10M – $5.46M
NOI $327,768 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29676, SC
5,641
Population
3,657
Households
1.5
Avg Household Size
63
Median Age
50%
College-Educated
89%
High-School Grad
72.1 sq mi
ZIP Area
78
Density / Sq Mi
$92,206
Median Household Income
$47,757
Median Earnings
$935
Median Rent
$403,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased shopping center offering 18,653 SF of retail space, situated on Lake Keowee.
Where is this shopping center located?
The property is located at 15740 N HWY 11 Salem, SC.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 18,653 SF shopping center built in 2007; 100% occupied shopping center with fully leased retail space; Shopping center on Lake Keowee
