This investment property consists of 4,800 sf office and warehouse consisting of expanded ceiling height and spacious overhead doors situated on .71 acres. A well-positioned service and trade complex with ease of access to SC Highway 544, this road serves as a primary tourism route with average daily traffic counts of 32,800. Bedroom community permanent population base immediately accessible via Forestbrook Rd. offering connection to US Highway 501.
A single tenant occupied 4,300 sf. With the owner having retained 500 sf of office for personal use, in evaluating the lease terms and circumstances of the owners use, a sale/leaseback was recommended by H. B. Springs Co. Real Estate. Market research related to area rents was conducted by H.B. Springs Co. Real Estate and a recommendation made to the ownership establishing the rent and term.
The result of both leases was a modified net lease resulting in a net operating income of over $30,000. Pricing of the asset was based together on area cap rates for like kind properties as well as comparable sales. Marketing information was assembled, a target audience defined, marketing efforts were then initiated resulting in a closing taking place 130 days from implantation of these efforts