The Vitamin Shoppe - Florence, SC_Property for Sale
The Vitamin Shoppe - Florence, SC_Property for Sale
David H McLeod Boulevard 2590, Florence, SC, 29501, US

The Vitamin Shoppe - Florence, SC

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Vitamin Shoppe (the “Property” or “Asset”) located at 2590 David McLeod Blvd, Florence, SC. The Property is the only Vitamin Shoppe in a 15-mile radius and features over five years of remaining lease term with two (2), five-year renewal options and 10% rent bumps every five years in both the primary lease term and renewal options. The lease structure operates as a NN lease and offers investors long-term cash flow with minimal  landlord expenses.



The Asset is located in Florence, a burgeoning city in South Carolina, and is an outparcel to Crossroads Center. The Property sits along David H McLeod Blvd and off Interstate-95, providing direct exposure to over 100,000 vehicles per day. The Magnolia Mall across from the Property boasts 2.7M Annual Visits and is ranked in the 93rd percentile of regional malls in the nation, per Placer.ai. Along with the Magnolia Mall, the Property is also proximate to a Walmart, Sam’s Club, Academy Sports, Texas Roadhouse, and Lowe’s – all of which are ranked in the top 80-90 percentile of their respective brands’ locations in the nation. The surrounding 1-mile radius has seen 22.3% population growth over the past decade, and the 3-mile radius features an average annual household incomes of $99,000, well above the national average.



Within a 1-mile radius of the Property, there are 23 hotels with over 1,540 rooms, 280 multi-family residential units, 2.4 million SF of retail space, 11 school systems, 82,000 SF of industrial space, and 229,000 SF of office space. Additionally, Francis Marion University is located within a 10-mile radius of the Property and has 4,200 students enrolled.



The Offering provides investors with the opportunity to acquire passive cash flow from a strong retail tenant with two (2), 5-year renewal options.

...

Attributes

Asking price
€2,243,000
Cap rate
6.75%
NOI
€152,000
WAULT
5.5 years
Building area net
386 m²
Year built
2009
Land area gross
0 m²
Occupancy
100%

Media

Investment Highlights

  • Over 5 years of remaining lease term w/ 10% rent increases every 5-years
  • Minimal landlord responsibilities - two, 5-year renewal options
  • Over 22% population growth since 2010 within a 1-mi radius
  • Proximate to Magnolia Mall, Walmart, Sam’s Club, Academy Sports, Texas Roadhouse, & Lowe’s – all of which are ranked in the top 80-90 percentile of their respective brands’ locations in the nation
  • Exposed to 100,000+ VPD within a dense commercial corridor along David H McLeod Blvd & 1-95
  • Ten schools within a 3-mi radius of the property - totaling over 8,800 students enrolled
  • The site is the only Vitamin Shoppe within a 15-mi radius


The Vitamin Shoppe - Florence, SC 4_Property for Sale

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The Vitamin Shoppe - Florence, SC (0 Properties)

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Last updated
16 May 2024