1330 Dutch Frk Rd Irmo, SC 29063-8825

Property Details for 1330 Dutch Frk Rd

Year built

1998

Construction

FRAME

Lot size

1.20 lot acres

Property size

10,953 SF

Zone code

GC

Property type

Commercial real estate

APN

R02415-04-09

APU

R024150409

Description

This exceptional investment opportunity presents a 10,953-square-foot CVS Pharmacy located at 1330 Dutch Fork Rd, Ballentine, SC 29002, in a high-income neighborhood of Columbia, SC. The property boasts a strong 15.7-year remaining lease term with a corporate guarantee from CVS Pharmacy, a company with a market capitalization exceeding $70 billion and investment-grade credit ratings (BBB per S&P and Baa2 per Moody's). The asking price is $2,652,000, representing a price per square foot of $262 and a cap rate of 5.75%. The current Net Operating Income (NOI) is $152,499. Built in 1998 and renovated in 2017, this single-story Class A retail building sits on a prime location, less than five minutes from Lake Murray and surrounded by other national retailers including Walmart, Aldi, Starbucks, Chick-fil-A, and McDonald's. The one-mile population boasts an average household income of $149,703 annually. The lease includes rent bumps of 10% in the first two options, followed by fair market value increases thereafter. This is a net lease (NNN) property with a low rent per square foot of $15, significantly below the CoStar estimated rent of $19-$23. In 2015, CVS signed a 25-year lease extension, demonstrating a long-term commitment to this location. This presents a compelling opportunity for investors seeking a stable, high-yielding asset with significant upside potential.