618 Fairview Rd Simpsonville, SC 29680-6707

Property Details for 618 Fairview Rd

Year built

1994

Lot size

1.85 lot acres

Property size

1,540 SF

Zone code

C2

Property type

Drug stores

APN

0329.00-01-002.01

APU

329000100201

Description

This exceptional investment opportunity presents a 14,550-square-foot Walgreens Pharmacy in Simpsonville, South Carolina. Built in 2005, the property sits on a 1.85-acre lot and is situated at 618 Fairview Rd, 29680. The property features a single-story building with an absolute triple-net (NNN) lease, offering significant long-term stability. The lease commenced March 31, 2005, and has a remaining term of 55.4 years, expiring March 31, 2080, with tenant options every five years. The asking price is $4,200,000, representing a price per square foot of $288.66 and an 8.10% cap rate. The current Net Operating Income (NOI) is $340,000. This investment-grade property benefits from a strong tenant, Walgreens Boots Alliance, providing financial security and consistent cash flow. The property's prime location offers excellent visibility and accessibility, enhanced by its proximity to major retailers like Publix and Lowe's. The surrounding area demonstrates robust demographics, with a high average household income and a significant population within a three-mile radius. Simpsonville's continued growth in residential and commercial development further strengthens the property's long-term value and potential. This is a rare opportunity to acquire a high-quality, net-leased retail asset in a thriving South Carolina market.

Location Insight

City

Simpsonville

County

Greenville

State

South Carolina

Longitude

-82.2568

Latitude

34.7167

CBSA code

24860

CBSA name

GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments