1259 Pleasantburg Dr Greenville, SC 29605-1344

Property Details for 1259 Pleasantburg Dr

Lot size

0.60 lot acres

Zone code

C2

Property type

Strip malls

Property subtype

Neighborhood centers

APN

M015.03-01-008.00

APU

M015030100800

Description

This exceptional value-add investment opportunity comprises a three-building retail portfolio strategically located in Greenville and Irmo, South Carolina. The portfolio totals 17,484 square feet and boasts a current occupancy rate of 100%, generating a strong pro-forma net operating income (NOI) of $258,591, representing a compelling 7.35% capitalization rate. The portfolio is comprised of diverse tenants, primarily small businesses, with leases averaging less than 1,500 square feet. Many leases include personal guarantees, providing added security. The portfolio presents significant upside potential through lease rate adjustments and net rate conversions, given the current fair in-place lease rates and the tight market conditions with low vacancy and a lack of comparable new developments. The properties are situated at 1259 and 1263 S Pleasantburg Dr in Greenville, Greenville County, SC 29605, and 7325 St Andrews Rd in Irmo, Lexington County, SC 29063. The asking price for this high-performing portfolio is $3,518,250, translating to a price per square foot of $201.23. This represents a rare chance to acquire a well-positioned, income-producing asset with substantial growth prospects in thriving South Carolina markets. The portfolio includes a mix of restaurant, storefront, and traditional office spaces.