Gateway Village | Travelers Rest

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CAP Rate:

NOI:

Year Built / Renovated:

Rentable SF:

Lot Size:

7.00%

412,129

1989

63,020

7.20 acres

In 2021, Food Lion signed a new 10 year lease for +67% of the center demonstrating Food Lion’s long term commitment to the center and market.

Asking Price of less then $94/SF is well below replacement cost.

Stabilized Value-Add Opportunity allows Investors current cash flow while benefiting from low Average Base Rents of only $6.76/SF NNN which are well below market offering potential upside and appreciation.

Weighted Average Lease Term (WALT) of ~4.57 years remaining with minimal landlord responsibilities.

Diverse Tenant Mix and Staggered Lease Expirations offers investors more diversity and stability.

Recently upgraded large LED pylon sign offers maximum visibility for all tenants

Owner completed a Roof Overlay on entire shopping center in 2022: 60 mil PVC, 20-year warranty: ($304,352).

Owner repaved the back Drive Lane of the shopping center in 2022: ($126,000) and Painted the Shopping Center in 2023: ($20,000).

Nestled in the heart of Travelers Rest, SC, a highly sought after and rapidly expanding suburb community of Greenville, SC, the property ensures convenient access to neighborhoods, highways, community amenities, the mountains and a mere 8-mile drive to downtown Greenville.

Located down the street from the new Pinestone Development that features a mix of residential and commercial spaces, including apartments, townhomes, neighborhood retail, and office areas, such as medical facilities, designed to support both the community’s residents and the surrounding area.

Centrally located to major retails and traffic drivers such as Walmart, Chick-Fil-A, Tractor Supply, CVS, Walgreens, Car Dealerships and the attractive downtown Main Street of Travelers Rest, SC.

The “Upstate” of South Carolina is one of America’s hottest emerging destinations and fastest growing MSA’s. Centered along the intersection of two major interstates (I-26 & I-85), the area has become host to more than 110 international firms, including BMW, Michelin, GE, Lockheed Martin Aircraft, and many more. Greenville’s revitalized downtown is ranked among “America’s Ten Best” and Spartanburg is the home of more per capita international investment than anywhere else in the country.

South Carolina is a popular market for real estate investors looking to profit from the State’s rapid appreciation rates and strong economy due to the low cost of living, business friendly environment, right-to-work policies, abundant workforce, and overall high quality of life.

For more information:

Robert Schmidt, CCIM
Director & Shareholder
(864) 678-5995
Peter Couchell, CCIM
Managing Director & Shareholder
(864) 678-5923

Property Summary

Property Type:

Retail

Property Subtype:

Grocery Store, Shopping Center

Tenancy:

Multi

Ownership:

Fee Simple

Lot Size:

7.20 Acres

Year Built:

1989

Stories:

1

Investment Summary

CAP Rate:

7.00%

NOI:

$412,129

Price per SF:

$93.43

Lease Type:

NNN

Remaining Term:

Varies

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Confidentiality Agreement Form


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Confidentiality Agreement
This Confidentiality Agreement will confirm the mutual understandings of the Undersigned and Owner of Record in connection with NAI Earle Furman, LLC, dba Furman Capital Advisors, LLC and its client (hereinafter referred to as "Protected Parties") providing proprietary information on the requested property (hereinafter called the “Property”) to the Undersigned:

“Information” means all data, reports, records, materials, lease expirations, lease rates or other lease information obtained from Furman Capital Advisors, LLC which is not in the public domain. Information is not meant to include information which: a) at the time of the disclosure is in the public domain; b) after disclosure becomes part of the public domain through no act or omission by the undersigned; c) as shown by written records was prior to disclosure in the possession of the undersigned; d) is rightfully received by the undersigned from third parties who were entitled to receive such information; or e) is obligated to be disclosed pursuant to applicable law, regulation or legal process.

The information is being furnished solely in connection with the consideration of a potential transaction involving the undersigned and shall be treated as “secret” and “confidential” and no portion of it shall be disclosed to others, except to those employees, agents, clients, and customers of the undersigned whose knowledge of the Information is required for use to evaluate that certain real estate as a potential acquisition and who shall assume the same obligations as the undersigned under this Agreement.

It is understood that the Protected Parties are the beneficiaries whose rights are being protected and may enforce the terms of this Confidentiality Agreement as if they were a party to the Agreement.

All information furnished shall be promptly returned or destroyed should there be no interest in that certain real estate acquisition, or otherwise disposed of as directed by the Protected Parties.

It is understood that the Protected Parties makes no representations or warranty as to the completeness or accuracy as to any information.

It is understood that by furnishing this information that the Protected Parties are not agreeing to enter into a transaction regarding the property.

By electronically signing, you represent and warrant to the other parties that (a) You have read, understand and consent to the agreement (“Agreement), (b) all information that you provide is complete and accurate, and (c) you own or have all rights and authority necessary to enter into and perform under the Agreement.

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