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Details: Retail

Asking Price: $7,300,000

Square Feet: 60,446 SF

Asking Cap Rate: 7.4%

Year Built: 1980

Year Renovated: 2019

NOI: $541,080

Dorchester Village

10150 Dorchester Rd, Summerville, SC 29485

•Opportunity to acquire a completely renovated shopping center in one of the country’s hottest markets

•Tenanted by two of the nation’s strongest and fastest growing Discount Retailers, Big Lots, and Dollar General

Discount Retail has been one of the market’s best performers over the past 18 months and will remain a preferred shopping destination in the year ahead

•Located along one of the trade area’s most heavily traveled intersections with traffic counts of over 68,000 vehicles per day

Minimal vacancies within the submarket should allow for ease of lease up of remaining vacancies

NOI growth of over 12% in the first year through lease-up and built-in rent bumps

•Over $1,500,000 in recent capital improvements to the roof, façade, parking lot, HVAC, lighting and more

•Located within one of the nation’s most desirable and fastest growing markets, Charleston, SC, ranked #1 City in the U.S. by Travel and Leisure Magazine

Stable economic drivers within the submarket including Boeing, Volvo, Mercedes,  Joint Base Charleston, Charleston Southern University, and Trident Tech

Over 3% Population growth within the submarket and over 17% within the Charleston market as a whole

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