Listing Agency: CBRE | Greenville

Listed By: Rhett Craig Show Phone

Source: Cbre

Added: Mar 25 Changed: Sep 25 Last Checked: Oct 7 at 10:39AM

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Investment Insights

Based on property information with market context.

This investment opportunity features a CVS property located in Cayce, SC, adjacent to the University of South Carolina, which has over 36,000 enrolled students. The site benefits from its proximity to a vibrant trade area filled with quick-service restaurants and local establishments, catering to both students and residents. The surrounding area includes over 2,100 multifamily and student housing units within a one-mile radius. The property is a low-maintenance investment with no landlord responsibilities and is corporately guaranteed by CVS Caremark Corporation, providing a secure and stable income stream. The property size is 11,982 square feet.

Key Highlights

• Corporately guaranteed by CVS Caremark Corporation, providing a secure and stable income stream.
• Located adjacent to the University of South Carolina (36,000+ students).
• Low‑maintenance investment with no landlord responsibilities.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$172,706

Cap Rate

2.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,454,120 $3.5M

Cap Rate 7%

$2,467,229 $2.5M

Cap Rate 9%

$1,918,956 $1.9M

Market Conditions

NOI Build-Up for 11,982 SF

Gross rent

$240.1K $20.04/SF

− Vacancy

−$9.8K −$0.82/SF

EGI

$230.3K $19.22/SF

− OpEx

−$57.6K −$4.80/SF

NOI

$172.7K $14.41/SF

Area

Lexington County, SC

Vacancy

4.10%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,454,120

Cap Rate 7%

$2,467,229

Cap Rate 9%

$1,918,956

Alternative Uses

Best Use

Specialty Retail

$2.47M

$2.16M – $2.88M (±1% cap)

NOI $172,706 @ 7.0% cap · market cap 2.99%

Second Best

Retail

$1.72M

$1.51M – $2.01M (±1% cap)

NOI $120,653 @ 7.0% cap · market cap 2.09%

Theoretical Best

Office A

$3.22M

$2.82M – $3.75M (±1% cap)

NOI $225,261 @ 7.0% cap · market cap 3.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Drug stores

Suggested Use

Top Pick Dental Office Real Estate Agency Kitchen & Bath Showroom Storage Facility Grocery & Convenience Store Garden Center

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

657

Businesses Nearby

183k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 52% Shops & Services 27% Groceries 17% Home Improvements & Furnishings 4%

Food Lion Grocery Store Groceries

30,740 visits/mo 0.2 miles

Five Below Shops & Services

29,786 visits/mo 0.1 miles

Taco Bell Dining

20,372 visits/mo 0.4 miles

Starbucks Dining

15,673 visits/mo 0.4 miles

Wendy's Dining

15,518 visits/mo 0.5 miles

Demographics for 29033, SC

12,575

Population

6,873

Households

1.8

Avg Household Size

36

Median Age

31%

College-Educated

94%

High-School Grad

10.0 sq mi

ZIP Area

1,258

Density / Sq Mi

$57,524

Median Household Income

$37,629

Median Earnings

$1,342

Median Rent

$156,400

Median Home Value

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

Questions? Ask Rey

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What type of property is this? Where is this drug stores located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Karen H. McGee, PharmD — 700 Knox Abbott Drive, West Columbia, SC 29033, Cayce, SC 29033
• Crystal F. Todd, Pharm — 615 Knox Abbott Dr, Cayce, SC 29033
• CVS Pharmacy — 500 Knox Abbott Dr, Cayce, SC 29033
• Thomas C. Reed, RPh — 500 Knox Abbott Dr, Cayce, SC 29033
• Anitra Robinson — 500 Knox Abbott Dr, Cayce, SC 290334125

Frequently Asked Questions

What type of property is this?

Drug store - CVS property near University of South Carolina with stable income.

Where is this drug store located?

The property is located at 500 Knox Abbott Drive Cayce, SC.

What is the asking price?

The asking price for this property is $5,780,000.

What are key features of this property?

This property features: Corporately guaranteed by CVS Caremark Corporation, providing a secure and stable income stream.; Located adjacent to the University of South Carolina (36,000+ students).; Low‑maintenance investment with no landlord responsibilities.