CVS Investment Opportunity in
For Sale
$5,780,000
500 Knox Abbott Drive, Cayce, SC 29033
CVS property near University of South Carolina with stable income.
Property Size11,982 SF
Price / SF$482.39
Days on Market152
Property Features for 500 Knox Abbott Drive
General Information
Standard status
Active
Size
11,982 SF
Property subtype
Retail
Listing Agency:
CBRE | Greenville
(864) 616-4676
Listed By:
Rhett Craig
(864) 616-4676
Source:
Cbre
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 22 at 7:06AM
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 CBRE | Greenville
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$172,706
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $172,706 @ 7.0% cap · market cap 2.99%
Second Best
Retail
$1.72M
$1.51M – $2.01M
NOI $120,653 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$3.22M
$2.82M – $3.75M
NOI $225,261 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Karen H. McGee, PharmD — 700 Knox Abbott Drive, West Columbia, SC 29033, Cayce, SC 29033
- CVS Pharmacy — 500 Knox Abbott Dr, Cayce, SC 29033
- Crystal F. Todd, Pharm — 615 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.
