1589 Cedar Hurst Rd Chester, SC 29706

Property Details for 1589 Cedar Hurst Rd

Year built

2024

Lot size

30.00 lot acres

Property size

325,076 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

Exceptional investment opportunity: This 325,076 square foot Class A distribution center in Chester, South Carolina, presents a compelling investment opportunity. Located at 1589 Cedarhurst Rd, this single-tenant property boasts a 10-year NNN lease with 8.9 years remaining, expiring October 31, 2033. The tenant, North America's largest roofing manufacturer, is credit-rated and provides a corporate guarantee. The lease features a $6.25/SF starting rent with 3% annual increases, generating a Year 1 NOI of $2,031,000. Further enhancing profitability, tenant improvements will add $40,000 to NOI, and a $80,000 annual property management fee is also collected. The property, built in 2024, sits on 30 acres and includes 17 dock-high doors (8 with levelers) and a drive-in door, along with a 1,040 square foot office. Its strategic location along I-77, 45 minutes south of Charlotte and an hour north of Columbia, provides excellent access to major markets. The 6.25% cap rate and the strong tenant history make this a stabilized, strategic asset in a rapidly growing industrial market. Chester County's robust economic development, with over $1.97 billion in capital investments in 2023 alone, further supports the long-term value of this property. The property is zoned ID-2 Industrial and Heavy Manufacturing and offers rail access. This sale is structured to accommodate a 1031 tax-free exchange. The asking price is $32,500,000.