Current Use by Public Records
- Smokers Cave Havana / (Bike/Boat/Book/etc) Store
- Carolina's Best Finance / Loan Service
Property Details for 1158 Cherry Rd
- Lot size
- 0.65 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Land
Description
This exceptional commercial property at 1158 Cherry Rd, Rock Hill, SC 29730, presents a compelling investment opportunity. The 1,893 square foot retail space sits on a 0.647-acre lot and boasts a prime location, just a short distance from Winthrop University and the Winthrop Coliseum. Currently occupied under a Net-Net (NN) lease with a single tenant, the property offers a 5-year lease term commencing November 1, 2023, and expiring October 31, 2028, with a 5% annual rent increase. The asking price is $779,000, representing a 5.26% cap rate based on a Net Operating Income (NOI) of $42,024. The property features 16 parking spaces and benefits from high traffic volume, with 25,840 vehicles passing daily. Built in 2000, the building is zoned GC and the landlord is responsible for roof and structure maintenance. The landlord pays property taxes for the first year. This is a 100% occupied property offering strong potential for long-term growth and passive income. The property's 99-foot frontage on Cherry Rd provides excellent visibility. This is a turnkey investment ready for immediate returns.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rock Hill
- County
- York
- State
- South Carolina
- Longitude
- -81.0178
- Latitude
- 34.9511
