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Details: 1123 S Lake Dr, Lexington, SC 29073
Asking Price: $1,500,000
Square Feet: 44,318 SF
Asking Cap Rate: 8.25%
Year Built: 1997
NOI: $123,840
South Lake Ponite
- Roses anchored shopping center
- Dynamic location in SC’s largest MSA
- 83% of GLA occupied by national users
- 100% occupied center
- NOI growth potential due to below market rental rates
- Ability to acquire significantly below replacement cost
- Stability with no tenant expirations until 2026
- Landlord flexibility with only 5 of 11 tenants having renewal options
- Lexington County is the highest income suburb of the Columbia MSA
- Located less than 1 mile from I-20
- Strong traffic counts
- S Lake Dr: 23,906
- Two Notch Rd: 10,009
- High income levels in trade area
- 5- Mile HHI: $92,801
- High growth area
- 1.8% population growth projected annually for next 5 years
- Strong population in trade area
- 5-mile population: 94,287
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