450 Columbiana Dr Columbia, SC 29212-1652

Property Details for 450 Columbiana Dr

Year built

1996

Construction

FRAME

Lot size

1.39 lot acres

Property size

10,061 SF

Zone code

PD

Property type

Commercial real estate

APN

R03914-06-04

APU

R039140604

Description

This exceptional investment opportunity presents a fee-simple, single-tenant retail property in Columbia, South Carolina, totaling 10,100 square feet. The property, built in 1996 and situated on a 1.35-acre lot, is currently 100% occupied by a daycare center under a corporate NNN lease with Cadence Education, a leading early education provider with over 300 locations nationwide. The lease commenced June 1, 2018, and has a remaining term of approximately 10.1 years, extending to December 31, 2034. The lease includes annual rent bumps of 2%, ensuring consistent income growth. The asking price is $3,339,899, representing a compelling $330.68 per square foot and a 6.50% cap rate based on a current Net Operating Income (NOI) of $217,093. The property benefits from its strategic location near major retailers, including Lowe's, Home Depot, and the Columbiana Centre mall, serving a thriving community with an average household income exceeding $102,000 within a 5-mile radius. This location also provides convenient access to two elementary schools, establishing a strong feeder school dynamic. The tenant, Cadence Education, is backed by Apax Partners, a prominent private equity firm, further solidifying the investment's stability. Lease options include 4 and 5-year extensions. This presents a rare opportunity to acquire a high-performing, stable investment in a rapidly growing market.