November Capital / October 15, 2021
Net Lease Rundown – South Carolina
12 Month Overview of Single Tenant Net Lease Transactions in South Carolina
- $1.9 Billion in single tenant net lease transaction sales volume over LTM
- 583 single tenant investment properties sold over LTM
- Average Cap Rate over LTM was 6.50% (Low of 3.90%, High of 10.40%)
- Average Sale Price over LTM was $3.2M
- Average of 9.2 Months to Sale
- Single tenant investment properties sold just 3.90% off asking price on average.
*12 month overview based on single tenant office, industrial, retail, flex, health care and specialty use transactions.
Notable Transactions Over the Last Several Weeks
- 10/6/2021 – Gresham, SC – Dollar General with 11 years remaining sells for $1,433,800 (6.00% Cap Rate)
- 10/6/2021 – Spartanburg, SC – Verizon store with 2 years remaining sells for $395,000 (7.85% Cap Rate)
- 10/1/2021 – Spartanburg, SC -Starbucks with 10 years remaining sells for $2,450,000 (5.00% Cap Rate)
- 9/29/2021 – Bluffton, SC – Lowe’s ground lease with 5 years remaining sells for $9,009,523 (5.25% Cap Rate)
- 9/24/2021 – Sumter, SC – Dollar General with a short term lease sells for $918,059 (6.70% Cap Rate)
- 9/23/2021 – Goose Creek, SC – Mattress Firm with 5 years remaining sells for $2,200,000 (6.60% Cap Rate)
- 9/16/2021 – Rock Hill, SC – Aspen Dental with 10 years remaining sells for $2,587,000 (6.00% Cap Rate)
- 9/16/2021 – Piedmont, SC – Family Dollar with 5 years remaining sells for $1,200,000 (7.20% Cap Rate)
- 9/10/2021 – Lexington, SC – 7-Eleven with 15 years remaining sells for $5,890,111 (4.54% Cap Rate)
- 9/8/2021 – Duncan, SC – QuikTrip with 15 years remaining sells for an undisclosed price estimated cap rate around 4.50%
