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$16,850,000
Price
$1,377,108
NOI
8.17%
Cap Rate
$159
Price Per SF
106,062
Building SF
Multiple
Tenancy

Best In Market Center

  • Main and Main location comprised of best in sector retailers, including, TJ Maxx, Ross, Ulta, and Five Below

Value Add

  • The property is 1005 occupied, however, It's Fashion is paying rent of less than $4/SF in an 11,000 SF space. We gain control of this space in approximately 3 years at which time we expect rents to triple. The lift from the It's Fashion box plus organic rental increase gives the property a rental growth runway.

No Deferred Maintenance

  • The property was completely renovated in 2020. All roofs are under warranty throughout our hold period. In general, the property is in fantastic condition.

Business Plan

  • We plan on holding this property for approximately 5 years. During that time we should experience organic rental growth from tenants exercising options and market to market rental increases. Once top line growth has been accomplished, we we look to dispose of or refinance the property.

Prime Location

  • Located on signalized corner across from Walmart and Lowes

High Traffic Counts

  • Hwy 378: 29,100 VPD Hwy 120: 19,600 VPD

Multiple Traffic Generators

  • Gateway Plaza sits on the main retail corridor of Sumter. It shares a signalized light with Walmart and Lowes.

Multiple Universities

  • Sumter is home to Morris College, Central Carolina Tech, Troy University, and USC - Sumter.

Shaw Air Force Base

  • Sumter is home to Shaw Air Force Base, which have over 10,000 active duty and civilian service providers.
FOR MORE DETAILS CONTACT
Drew Angel
Partner
(501) 230-9705
drew@core-equitypartners.com
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