Orange Theory | Greenfields Bagels

Orange Theory | Greenfields Bagels

870 E. Suber Road Greer
Greer, SC

Price: $2,685,000
Cap: 6.75%
NOI: $181,282
Building Size: 6,500
Lot Size: 1.10 AC

Investment Highlights

• The Property is a new construction Three Tenant strip center leased to national tenants and located as an outparcel to a new grocery anchored Center in the Greenville, SC MSA.
• The Property completed construction in June and has been delivered to tenants.
• Class A construction features attractive cultured stone and brick exterior.

• Orange Theory has a Ten (10) Year Lease with 2% annual increases
• Orange Theory has Two (2) Option periods of Five (5) years each with 2% annual increases
• Greenfields Bagels has a Ten (10) Year Lease with a 7.6% rent increase in Year 6
• Greenfields Bagels has Two (2) Option periods of Five (5) years each with rental increases
• Stevenson Tax & Accounting has a Five (5) year lease with $0.50 PSF Annual Increases
• Stevenson Tax & Accounting has a Two (2) Option Periods with $0.50 PSF Annual Increases

• Population: 1-Mile: 7,445 | 3-Mile: 48,963 | 5-Mile: 149,949
• Average Income: 1-Mile: $93,789 | 3-Mile: $84,630 | 5-Mile: $78,707
• Growth: 1-Mile: 18.07% | 3-Mile: 9.58% | 5-Mile: 6.03%

• The subject property is located in the heart of a dense suburban market adjacent to Riverside High School (1,800 Students, 127 Faculty).
• The Asset is situated at the corner of a major intersection of E Suber Road (State Route 540) and Hammett Bridge Road (State Route 94).
• New Residential developments surrounding the center including 500+ new homes.
• Greer City Council recently approved zoning to develop 130 residential homes within a mile radius of the property.
• Subject Property is located 5 Miles (12 minutes) from Greenville-Spartanburg International Airport, 6 Miles (15 Minutes) from BMW Manufacturing Plant.

• The city of Greenville is the largest city and the county seat of Greenville County, South Carolina.
• Greenville is the largest and fastest growing MSA in South Carolina with a population of more than 885,000 and the Greenville-Spartanburg-Anderson Combined Statistical Area (The Upstate) is the largest statistical area in the state, home to more than 1.4 million residents.
• Greenville maintains one of the strongest local economies in the southeast and is driven by financial institutions, the automotive industry, healthcare, and pharmaceuticals and maintains an S&P AAA bond rating.
• Major employers in the area include BMW Manufacturing Corp., Spartanburg Regional Healthcare System, Michelin North America, and more.

Zach Taylor

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