This property has sold.

Details: Retail

Asking Price: $2,650,000

Square Feet: 42,846 SF

Asking Cap Rate: 9.00%

NOI: $238,587

SOLD – Mills Corner

4360 Augusta Road, Lexington, SC


  • Long term renewal opportunity with KJ’s with significant rental bumps
  • Rental increase opportunity with 89% of the GLA up for renewal in 2020
  • Rental rates well below those of neighboring shopping centers
  • Minimal short-term cap ex as roof is estimated to have 12 years of life left
  • Potential to add additional shop space on site


  • Mills Corner is one of the Lexington area’s leading grocery anchored centers
  • Only grocery anchored center on Hwy 1 between I-20 and I-26
  • KJ’s is owned by W. Lee Flowers which has been in business since 1922. They own and operate 50 stores and service 40 more.
  • Mills Corner is 100% leased
  • 25% of tenants have been located at the center since 1995
  • 50% of tenants have been located at the center for at least 8 years

This property has sold.