1223 St Andrews Rd Columbia, SC 29210
- Retail properties
- 14,820 SF
- 1.85 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1223 St Andrews Rd
- Year built
- 2005
- Lot size
- 1.85 lot acres
- Property size
- 14,820 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a 14,820-square-foot, single-tenant Walgreens pharmacy located at 1223 St Andrews Rd, Columbia, SC 29210. The property, built in 2005, sits on a 1.85-acre lot with 62 parking spaces and benefits from a highly visible, signalized corner location experiencing over 50,000 cars daily. The absolute NNN lease, with a remaining term of 5.9 years (expiring 05/31/2080), offers a passive investment with minimal landlord responsibilities. The current asking price is $4,622,222, representing a price per square foot of $311.89 and a 6.75% cap rate. The property boasts a strong net operating income (NOI) of $312,000, with 100% occupancy since May 30, 2020. The property is zoned GC and features a single-story building. This investment is further enhanced by Walgreens' long-standing presence (since 2005) and the robust growth experienced in the Columbia, South Carolina market, fueled by the presence of the University of South Carolina and Fort Jackson. The lease is a fee simple ownership with no ground lease or rent bumps. This presents a compelling opportunity for investors seeking a stable, high-performing asset in a desirable location.
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
- Columbia
- County
- Richland
- State
- South Carolina
- Longitude
- -81.1069
- Latitude
- 34.0502
