Knightsville Crossing

Knightsville Crossing

1605 Central Ave
Summerville, SC

Price: $6,763,000
Cap: 7.25%
NOI: $490,296
Building Size: 37,863
Lot Size: 6.09 AC

Investment Highlights

NEWLY RENOVATED SHOPPING CENTER
• The subject property is a 37,863 SF shopping center Anchored by Grayco Hardware & Home
• Knightsville Crossing was Renovated in 2019 to include new roof, parking lot repairs, upgraded LED parking lot lighting, HVAC repair & replacement (Some Units), along with new irrigation system & landscaping plan installed
• The center is anchored by Grayco Hardware & Home (8 Years remaining), an expanding home goods and Hardware business with 7 locations across South Carolina & Georgia
• The center leased a brand-new Dunkin’ Donuts in 2019 to a strong 70+ unit Franchisee
• Stable tenant history | Average Occupancy 11.22 years (Excluding new Dunkin & Grayco Leases)
• All tenants current with 100% rent collections

STRONG REAL ESTATE FUNDAMENTALS
• The center is nestled in a dense suburban pocket directly in the path of growth of the Charleston Suburbs
• Property is positioned in the retail corridor of the local market at same intersection as Walmart, Publix, Walgreens, & CVS
• Knightsville Crossing sits at the hard corner of a signalized intersection with great visibility and multiple points of ingress/ egress
• In-line market rents and limited competition within the market

SUMMERVILLE, SC | CHARLESTON MSA
• Known as the birthplace of Sweet Tea, Summerville is a situated in Dorchester county within the Charleston MSA
• The Town of Summerville engages in a variety of activities and programs designed to obtain a healthy balance of strategic economic growth and improved quality-of-life. This has been achieved by facilitating quality private development and redevelopment, coordinating with community partners to support business growth, pursuing annexation opportunities, and improving access to the community’s unique historic and natural resources.
• Summerville is home to Charleston Southern University with 3,647 enrolled students
• Summerville is one of the premier communities in the Southeast for logistics, workforce, and business environment.

Zach Taylor
OFFERING MEMORANDUM

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