Scholar Way Summerville, SC 29486
- Retail properties
- 4,650 SF
- 1.54 lot acres
Current Use by Public Records
- Retail properties
Property Details for 0 Scholar Way
- Year built
- 2024
- Lot size
- 1.54 lot acres
- Property size
- 4,650 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a newly constructed, 4,650 square foot 7-Eleven convenience store located in Summerville, South Carolina. Situated within the Nexton master-planned community, recently recognized as the "Best Mix-Use Development in the United States," this Class A property boasts a prime location. The property features a 15-year NNN lease with a 10% rent increase every five years and four 5-year renewal options, ensuring long-term stability and predictable cash flow. The 1.54-acre lot is strategically positioned near Nexton Elementary School and a Harris Teeter shopping center, with a Publix center soon to open nearby. Excellent access to Interstate 26 and Highway 176 further enhances its appeal. The property's strong financial performance is highlighted by a 5.10% cap rate and a net operating income (NOI) of $458,347. The asking price is $8,987,212, translating to a price per square foot of $1,932.73. This single-tenant, 100% occupied property offers a compelling investment opportunity in a rapidly growing area of the Charleston MSA, fueled by significant industrial development and population growth. The property's zoning is PD-MU. The building, constructed in 2024, is a single-story structure. This is a rare opportunity to acquire a high-performing, newly built 7-Eleven 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
- Dorchester
- State
- South Carolina
- Longitude
- -80.1508
- Latitude
- 33.0639
