Description
55,946 SF shopping center sitting on 4.75 AC located right off N. Pine Street (29,400 VPD) in rapidly growing Spartanburg, SC! Garner Square is located less than 1 mile from Wofford College and Spartanburg Medical Center and just 5 minutes from Interstate 85. This is a landmark property surrounded by national retail and right next door to a brand new 208 unit apartment complex providing additional density to an already mature retail market. With a brand new 10 year lease from an anchor tenant occupying 25,000 SF and a weighted average lease term of more than 7 years this is a great opportunity for an investor looking for a good long term stable investment. At just $65/SF it is priced well below replacement cost, and is a great opportunity at a 7.15% cap rate based on in place NOI. Call Listing Agent for additional details.
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0BEDS
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4.75ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
55,946 SF shopping center sitting on 4.75 AC located right off N. Pine Street (29,400 VPD) in rapidly growing Spartanburg, SC! Garner Square is located less than 1 mile from Wofford College and Spartanburg Medical Center and just 5 minutes from Interstate 85. This is a landmark property surrounded by national retail and right next door to a brand new 208 unit apartment complex providing additional density to an already mature retail market. With a brand new 10 year lease from an anchor tenant occupying 25,000 SF and a weighted average lease term of more than 7 years this is a great opportunity for an investor looking for a good long term stable investment. At just $65/SF it is priced well below replacement cost, and is a great opportunity at a 7.15% cap rate based on in place NOI. Call Listing Agent for additional details.
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