700 E Main St Duncan, SC 29334

Property Details for 700 E Main St

Year built

1994

Construction

CONCRETE BLOCKS

Lot size

8.08 lot acres

Property size

3,850 SF

Property type

Community centers

APN

5-2000-04002

APU

5200004002

Description

This exceptional mixed-use property, located at 700 East Main Street in Duncan, South Carolina, presents a compelling investment opportunity within the thriving Greenville/Spartanburg MSA. The 64,075-square-foot property comprises a climate-controlled self-storage facility and a retail center, offering a diversified income stream. The complex features six buildings on approximately 7.19 acres, housing 254 storage units, including 200 climate-controlled units, and nine retail suites, one of which is currently occupied by a Dollar Tree. Built in 1994, the property boasts a strong 90% occupancy rate as of September 30, 2024, with a remaining lease term of five years for the existing tenants. The property benefits from a gross lease structure and allows for rent bumps, providing potential for increased revenue. The property is classified as Class B and is zoned DT-3. With a current cap rate of 6.50% and a pro-forma cap rate of 7.00%, this stabilized investment offers significant upside potential. The property's prime location and the inclusion of both self-storage and retail components create a highly desirable and resilient investment asset. The fee-simple ownership provides complete control and flexibility. This is a rare opportunity to acquire a well-performing, mixed-use property in a rapidly growing market. The property's strong performance, combined with its strategic location and potential for future growth, makes it an ideal addition to any investment portfolio. The asking price is $7,800,000.

Location Insight

City

Duncan

County

Spartanburg

State

South Carolina

Longitude

-82.1233

Latitude

34.9278

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments