MLS# 30324484 | 1027 Folly Rd Charleston SC | subdivision
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No Recent Price Change
1027 Folly Rd
Charleston, SC 29412
- MLS# 30324484
- Commercial Sales
- Shopping Center
Sumters Landing is an attractive, well maintained, and 100% occupied retail center located on Folly Road the major commercial thoroughfare of James Island in the Charleston, SC MSA. Adjacent to BB&T Bank Branch (built 2008) Sumters Landing is 100% leased to five tenants. All tenants have five year triple net terms and 3% annual rent escalation except Advance America (expires 6/30/21). A well located, hard to replicate, triple net leased investment opportunity with a solid history of occupancy. Single owner since it was developed in 2006. $161,451 in NOI is for 2019 (first full year of ownership). See Current Tenants section for rate and term breakdown of each lease. Commercial Real Estate Ventures, LLC does not make any representation or warranty as to the accuracy or completeness of the Informational Materials for this offering and further that the provided information used in the preparation of the Informational Materials herein that has been furnished to Commercial Real Estate Ventures, LLC by others has not been independently verified by Commercial Real Estate Ventures, LLC and is therefore not guaranteed as to completeness or accuracy. Any Potential Purchaser and/or Buyer's Broker(s) agrees that Commercial Real Estate Ventures, LLC shall not have any liability for any reason to the Buyer's Broker(s) or the Potential Purchaser or any Related Parties resulting from the use of the Informational Materials.
Listing Date: 01-15-2021
Sold Date: 11-21-2018
2 Year(s), 5 month(s), 19 day(s) ago
Asking Price: $2,450,000
Selling Price: $2,450,000
Same as list price
Year Built Date: 2,006
Sale Terms: Cash to Seller
Sale Price Max Total: $2,450,000
Sale Price Min Total: $2,450,000
Use Type: Net Leased Investment (NNN), Investment
Msa: Charleston-North Charleston
Title: Sumters Landing Shopping Center - 1027 Folly Road
Property Subtype: Net Leased, Strip Center
Sale / Lease Info
Sold Date: 2018-11-21T00:00:00
Size Rentable Sf: 7,397
Taxing Authority: Charleston County
Courtesy of listing office Commercial Real Estate Ventures, LLC
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