224 E Butler Rd Mauldin, SC 29662

Property Details for 224 E Butler Rd

Lot size

1.40 lot acres

Property size

1,174 SF

Zone code

R20

Property type

Drug stores

APN

M004.01-01-010.01

APU

M004010101001

Description

This investment opportunity presents a net-leased CVS Pharmacy located at 224 E Butler Rd, Mauldin, SC 29662. The property boasts 10,125 square feet on a 1.4-acre lot and is priced at $2,861,429, representing a price per square foot of $282.61 and a 7.00% cap rate. The property generates a net operating income (NOI) of $200,300. The lease is a single-tenant, triple-net (NN) lease with a corporate guarantee from CVS Pharmacy, expiring December 31, 2027, leaving approximately 3.1 years remaining. Landlord responsibilities are limited to roof and structure maintenance; a new roof was installed in 2021. This CVS location uniquely features a HealthHUB and MinuteClinic, amenities found in only 15% of CVS locations. The property benefits from its high-visibility location on E Butler Rd, experiencing over 24,000 vehicles per day. It's situated near BridgeWay Station and I-185, providing excellent accessibility. The surrounding area demonstrates strong demographics, with 133,316 residents and an average household income of $101,022 within a 5-mile radius. Mauldin is experiencing significant growth, with a projected 25% population increase by 2030. This presents a compelling investment opportunity due to the strong tenant, long-term lease, and favorable market conditions.

Location Insight

City

Mauldin

County

Greenville

State

South Carolina

Longitude

-82.2962

Latitude

34.784

CBSA code

24860

CBSA name

GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments