2098 Bells Hwy, Walterboro, SC 29488

Property Details for 2098 Bells Hwy

Year built

2007

Lot size

7.40 lot acres

Property type

Lifestyle centers

Property subtype

Power centers

Description

The Shoppes of Walterboro, a 53,300 square foot shopping center in Walterboro, South Carolina, presents a compelling value-add investment opportunity. Located at 2098 Bells Hwy, this single-story, 2007-built property (APN: 146-00-00-196) sits on a 7.4-acre lot and is conveniently situated off Interstate 95, benefiting from significant regional draw. Currently boasting 97% occupancy with 16 tenants, including a Walmart Supercenter as a shadow anchor, over 71% of the tenants are national brands. A newly signed 10-year lease with Five Below further strengthens the tenant mix. The property underwent a complete renovation in 2024, eliminating any deferred maintenance. The current asking price is $10,000,000, representing a price per square foot of $187.62 and a 7.52% cap rate based on a Net Operating Income (NOI) of $752,145. Leases are NNN (Net, Net, Net) with credit-rated tenants. The current lease commencement date is April 30, 2024, with an expiration date of April 30, 2034, providing a remaining lease term of 9.4 years. Rent bumps are included in the lease agreements. The property's strong performance is further enhanced by the recent leasing of two smaller shops, leaving only one vacancy. The area's economic outlook is positive, fueled by the construction of a new battery plant creating approximately 600 jobs. This presents significant upside potential from the remaining vacancy and strong future growth prospects. This is a cash-flowing asset with immediate income generation.

Location Insight

City

Walterboro

County

Colleton

State

South Carolina

Longitude

-80.6917

Latitude

32.9341