287 Lee St Johnston, SC 29832

Property Details for 287 Lee St

Year built

2007

Lot size

0.81 lot acres

Property size

9,180 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a fee-simple, single-tenant retail property located at 287 Lee St, Johnston, SC 29832. The 9,180 square foot building, constructed in 2007 and renovated in 2019, sits on a 0.81-acre lot. Currently 100% occupied by Citi Trends, a publicly traded national retailer with approximately 600 stores, the property offers a strong, stable income stream. The gross lease features a remaining term of approximately 1.5 years, followed by options with significant rent increases (5%, 15%, and 10%). The current rent is $5.25 per square foot, significantly below market value, presenting substantial upside potential for increased net operating income (NOI). The property boasts a low basis of $65 per square foot, making it an attractive investment. The strategic location in Johnston, SC, within the Augusta MSA, benefits from proximity to major transportation routes and a strong demographic profile, with approximately 92,000 people within a 30-minute drive and average household incomes of approximately $75,000 within a 10-minute radius. The property's strong tenant, favorable lease terms, and prime location combine to create a compelling investment opportunity with significant potential for long-term growth. The asking price is $600,000, with a current NOI of $26,953.