Verizon - Rivers Avenue

7351 Rivers Avenue

North Charleston, SC

PRICE: $2,501,818

CAP RATE: 5.5%

NOI: $137,600

LEASE TYPE: NN

LEASE EXPIRATION: June 2030

RENT ESCALATIONS: 10% at next renewal option

RENEWAL OPTIONS: (1) 5-Year Option

TMS: 478-03-00-025

SQUARE FOOTAGE: 4,000 SF

YEAR BUILT: 2005

ZONING: B-2 (City of North Charleston)

LOT SIZE: 1.02 Acres

GUARANTY: Corporate

TERMINATION OPTION: See broker for details

‍

Oswald Cooke & Associates is pleased to present a Verizon Wireless retail store located at 7351 Rivers Avenue, North Charleston, SC for sale. The current lease term expires in June of 2030 and the tenant has (1) 5-Year option to renew with a 10% escalation.  Rivers Avenue boasts a traffic count of 54,800 VPD and is home to many National Retailers including: Target, Walmart, Best Buy, Walgreens, Northwoods Mall and more. Charleston has been named the No. 1 Tourist Destination in America by Conde Nast multiple times. In 2017 it was estimated that 6.9 million visitors came to the Greater Charleston area which is a 26% increase from 2016. The economic impact in 2017 from tourists alone was $7.37 billion. Investment has been particularly strong in the Charleston Market in recent years, averaging more than $300 million a year since 2014.