8604 Farrow Rd Columbia, SC 29203-9804

Property Details for 8604 Farrow Rd

Year built

2000

Construction

FRAME

Lot size

1.00 lot acres

Property size

10,590 SF

Zone code

M-1

Property type

Commercial real estate

APN

R17104-04-04

APU

R171040404

Description

This 9,625 square foot shopping center in Columbia, SC, presents a compelling value-add opportunity. Located on Farrow Road (23,000 vehicles per day) and directly off I-77 (83,000 VPD), this single-story, one-building property boasts excellent visibility and accessibility. Currently 87% occupied with five tenants, the property offers immediate cash flow with upside potential through lease-up of the vacant space. The asking price is $1,050,000, representing a strong 8% cap rate and $109.09 per square foot. The property sits on a one-acre lot with 65 parking spaces and benefits from a strong demographic profile, with an average household income of $97,473 within a five-mile radius. The location is less than 15 minutes from the University of South Carolina, with its 35,000+ student population and 2,000+ faculty members, and across from the SCRA Research Park, home to numerous businesses and South University. Recent capital expenditures include upgrades to a vacant unit and routine maintenance of the roof and HVAC systems. The current gross leases provide an opportunity for a new owner to convert to NNN leases and increase rental income. The Columbia MSA's robust growth, fueled by major corporate relocations and expansions (including Aflac, Capgemini, Amazon, and Mark Anthony Brewing), further enhances the investment potential of this property. Built in 2000, this property offers a blend of established tenancy and significant upside potential in a thriving market.

Location Insight

City

Columbia

County

Richland

State

South Carolina

Longitude

-80.9608

Latitude

34.097

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments