1851 State Rd Summerville, SC 29486
- Retail properties
- 1,425 SF
- 0.67 lot acres
Current Use by Public Records
- Dollar General / Discount Store
Property Details for 1851 State Rd
- Year built
- 2023
- Lot size
- 0.67 lot acres
- Property size
- 1,425 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a brand-new, 1,425-square-foot Take 5 Oil Change located in Summerville, South Carolina. Built in 2023, this property sits on a 0.67-acre lot with excellent visibility on State Road, boasting 20,000 vehicles per day. The property features a 15-year absolute NNN ground lease with a 10% rent increase every five years, providing strong, predictable cash flow. The current lease has 14.5 years remaining, expiring December 1, 2038. The property benefits from a prime location between two large master-planned communities, Nexton and Cane Bay Plantation, with over 40,000 new homes. This high-growth area also boasts a high average household income ($85,399+) within a one-mile radius and is conveniently located near major retailers such as Chick-fil-A, McDonald's, Starbucks, and more. The strong tenant, Take 5 Oil Change, is a successful and growing multi-unit operator, further enhancing the investment's stability. The property's Net Operating Income (NOI) is $85,869, resulting in a 6.25% cap rate and an asking price of $1,374,000 ($964.21 per square foot). The property's proximity to Cane Bay High School (2,500+ students) and its location in the rapidly growing Berkeley County (one of the fastest-growing counties in the US) contribute to its long-term value. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Summerville
- County
- Berkeley
- State
- South Carolina
- Longitude
- -80.1333
- Latitude
- 33.1112
