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Shopping Strip

Goose Creek Plaza

225 Red Bank Rd, Goose Creek, SC 29445

Listing Price: $2,200,000

Cap Rate
8.00%
Gross SF
16,338
Rentable SF
16,338
Price/Gross SF
$134.66
Lot Size
1.04 acres
Year Built
2003

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Goose Creek Plaza, a multitenant retail strip located in the Charleston MSA. The unanchored retail plaza totals 16,338 square-feet and is currently 100% occupied by a diverse tenant mix. The property offers steady in-place cash flow with high traffic exposure and significant value add opportunity by raising rents to market, extending lease terms, and converting gross leases to NNN. The eclectic tenant mix includes a café, hair salon and nail salon amongst others. The subject property rests on approximately 1.04 acres on Red Bank Rd (21,700+ VPD), one of Goose Creek’s major thoroughfares situated less than 7 minutes from Interstate-26 (111,100+ VPD). The plaza falls within the Red Bank District, an overlay district in the works of becoming a boutique artisan & pedestrian-oriented corridor to reinforce the city’s rapid expansion. Additionally, the property is located within minutes of downtown Charleston, and less than 8 minutes to both Trident Medical Center (1,500+ employees) & Charleston Southern University (2,720+ students). 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 began development of 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 in the Charleston MSA | Prime Value Add Opportunity by Raising Rents to Market, Extending Terms, & Converting All Leases to NNN
  • Excellent Exposure via Red Bank Rd (21,700+ VPD) | Less than 7 Minutes to I-26 (111,100+ VPD)
  • Eclectic Tenant Mix Including a Café, Hair Salon, and Nail Salon Amongst Others | Steady In-Place Cash Flow for New Owner
  • Recently Renovated in 2021 | Owner Spent Over $130,000+ on New Roofing, HVAC, Parking Lot, Paint, & More | Recently Renovated in 2021 | Owner Spent Over $130,000+ on New Roofing, HVAC, Parking Lot, Paint, & More
  • High Growth Submarket | The City of Goose Creek has Grown 32.8% Since 2010 | Strong Demographics | Estimated Population of Over 124,000+ within 5-Miles of the Property

Exclusively Listed By

Shopping Strip

Goose Creek Plaza

Listing Price: $2,200,000

Cap Rate
8.00%
Gross SF
16,338
Rentable SF
16,338
Price/Gross SF
$134.66
Lot Size
1.04 acres
Year Built
2003

Investment Highlights

  • 100% Occupied Multitenant Retail Strip Located in the Charleston MSA | Prime Value Add Opportunity by Raising Rents to Market, Extending Terms, & Converting All Leases to NNN
  • Excellent Exposure via Red Bank Rd (21,700+ VPD) | Less than 7 Minutes to I-26 (111,100+ VPD)
  • Eclectic Tenant Mix Including a Café, Hair Salon, and Nail Salon Amongst Others | Steady In-Place Cash Flow for New Owner
  • Recently Renovated in 2021 | Owner Spent Over $130,000+ on New Roofing, HVAC, Parking Lot, Paint, & More | Recently Renovated in 2021 | Owner Spent Over $130,000+ on New Roofing, HVAC, Parking Lot, Paint, & More
  • High Growth Submarket | The City of Goose Creek has Grown 32.8% Since 2010 | Strong Demographics | Estimated Population of Over 124,000+ within 5-Miles of the Property

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Goose Creek Plaza, a multitenant retail strip located in the Charleston MSA. The unanchored retail plaza totals 16,338 square-feet and is currently 100% occupied by a diverse tenant mix. The property offers steady in-place cash flow with high traffic exposure and significant value add opportunity by raising rents to market, extending lease terms, and converting gross leases to NNN. The eclectic tenant mix includes a café, hair salon and nail salon amongst others. The subject property rests on approximately 1.04 acres on Red Bank Rd (21,700+ VPD), one of Goose Creek’s major thoroughfares situated less than 7 minutes from Interstate-26 (111,100+ VPD). The plaza falls within the Red Bank District, an overlay district in the works of becoming a boutique artisan & pedestrian-oriented corridor to reinforce the city’s rapid expansion. Additionally, the property is located within minutes of downtown Charleston, and less than 8 minutes to both Trident Medical Center (1,500+ employees) & Charleston Southern University (2,720+ students). 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 began development of 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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