2577 North Rd Orangeburg, SC 29118
- Retail properties
- 2,305 SF
- 0.77 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2577 North Rd
- Year built
- 2023
- Lot size
- 0.77 lot acres
- Property size
- 2,305 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a newly constructed (2023) Starbucks located on a signalized corner in Orangeburg, South Carolina. The 2,305 square foot building sits on a 0.77-acre lot and benefits from a 10.3-year net lease (NN+) with a credit-rated, corporate-guaranteed tenant. The lease commenced November 10, 2023, and has a remaining term of 9.5 years, expiring February 28, 2034. The property boasts a strong 6.00% cap rate and a current NOI of $126,000. Rental increases are built into the lease. This prime location enjoys high visibility and accessibility with over 29,100 vehicles passing daily. Situated near major retailers like Walmart, Lowe's, and T.J. Maxx, and adjacent to Prince of Orange Mall, this Starbucks benefits from significant crossover traffic. Its proximity to South Carolina State University further enhances its appeal. The property's location offers excellent access to Downtown Columbia, the state capital. This investment is structured for a 1031 exchange. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any portfolio. The high traffic count and surrounding retail density ensure consistent customer flow. Projected growth in the surrounding area further supports the long-term value of this investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Orangeburg
- County
- Orangeburg
- State
- South Carolina
- Longitude
- -80.8875
- Latitude
- 33.5248
