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Shopping Strip

Old 52 Plaza

1010 Old US-52 Hwy, Moncks Corner, SC 29461

Listing Price: $980,000

Cap Rate
6.29%
Gross SF
8,000
Rentable SF
8,000
Price/Gross SF
$122.50
Lot Size
0.67 acres
Year Built
1987

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in Old 52 Plaza, a 8,000 square-foot retail plaza located in Moncks Corner (Charleston MSA), South Carolina. The subject property is fully occupied by a variety of tenants including a laundromat, pizza restaurant, nutrition shop, and salon. There is substantial value add opportunity by raising rents to market, converting leases to NNN and extending terms. Located along the Atlantic seaboard, the Charleston metro encompasses Charleston, Berkeley and Dorchester counties in southeastern South Carolina. A favorable business climate is helping draw companies and workers to the region. Vehicle manufacturing in particular is growing with recent expansions at Mercedes-Benz and Volvo. Walmart also recently announced plans to develop a 3 million square-foot distribution center in Ridgeville. The metro population has grown by roughly 243,000 people since 2000 and the market is forecast to receive another 75,000 people through 2024. Charleston is the largest city in the metro with 142,000 residents, followed by North Charleston with 109,800.

Investment Highlights

  • 100% Occupied Multitenant Retail Strip Located on Hard Corner in Moncks Corner (Charleston MSA), South Carolina | Offered Below Replacement Cost
  • Prime Value Add Opportunity thru CapEx and by Raising Rents to Market, Extending Terms, and Converting All Leases from Gross to NNN
  • Located Where Old Hwy 52 and Hwy 52 Intersect | 26,800 Vehicles Per Day
  • Directly Adjacent to Big Lots-Anchored Shopping Center with Harbor Freight, Family Dollar, and Farmers Home Furniture
  • Other National Retailers in Immediate Area Including CVS Pharmacy, KJ's Market, Burger King, Taco Bell, Little Caesars, and More

Exclusively Listed By

Shopping Strip

Old 52 Plaza

Listing Price: $980,000

Cap Rate
6.29%
Gross SF
8,000
Rentable SF
8,000
Price/Gross SF
$122.50
Lot Size
0.67 acres
Year Built
1987

Investment Highlights

  • 100% Occupied Multitenant Retail Strip Located on Hard Corner in Moncks Corner (Charleston MSA), South Carolina | Offered Below Replacement Cost
  • Prime Value Add Opportunity thru CapEx and by Raising Rents to Market, Extending Terms, and Converting All Leases from Gross to NNN
  • Located Where Old Hwy 52 and Hwy 52 Intersect | 26,800 Vehicles Per Day
  • Directly Adjacent to Big Lots-Anchored Shopping Center with Harbor Freight, Family Dollar, and Farmers Home Furniture
  • Other National Retailers in Immediate Area Including CVS Pharmacy, KJ's Market, Burger King, Taco Bell, Little Caesars, and More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in Old 52 Plaza, a 8,000 square-foot retail plaza located in Moncks Corner (Charleston MSA), South Carolina. The subject property is fully occupied by a variety of tenants including a laundromat, pizza restaurant, nutrition shop, and salon. There is substantial value add opportunity by raising rents to market, converting leases to NNN and extending terms. Located along the Atlantic seaboard, the Charleston metro encompasses Charleston, Berkeley and Dorchester counties in southeastern South Carolina. A favorable business climate is helping draw companies and workers to the region. Vehicle manufacturing in particular is growing with recent expansions at Mercedes-Benz and Volvo. Walmart also recently announced plans to develop a 3 million square-foot distribution center in Ridgeville. The metro population has grown by roughly 243,000 people since 2000 and the market is forecast to receive another 75,000 people through 2024. Charleston is the largest city in the metro with 142,000 residents, followed by North Charleston with 109,800.

Exclusively Listed By

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