Furman Capital Advisors is pleased to offer the opportunity to purchase a value-add property in Simpsonville, SC.
Value Add Opportunity: The current rent is well below market and the current tenant, Ace Hardware, will be relocating to a larger site when their current term expires on July 31, 2024, thus giving a buyer time to reposition the property while collecting rent. Call broker for more details.
Expensive to Replicate: Priced well below replacement cost at only $136.75 PSF. The property has been well maintained and managed by NAI Earle Furman since 2013.
Great Location in Dense Retail Area: The major neighboring tenants include Walmart, Target, Home Depot, Lowes, Publix, Ingles, Aldi, Chick-fil-A, TJ Maxx, Ross, Kohl’s, Pet Smart, Hobby Lobby, Bon Secours, and much more.
Minimal Submarket Vacancy: The Fairview Road submarket includes ±2M SF of retail & medical with a minimal vacancy rate of 2.0% (CoStar).
Affluent & Growing Demographics: Average Household Income of $109,250 and positive population growth of 35% within a 5-mile radius.
Highly Desirable Submarket: The property is located in one of the most desirable submarkets in the Upstate of South Carolina providing access to population density and best-of-class locations.
Booming Greater Market: 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.
High Demand Growth Market: 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.