|Price/Rent PSF||$ 1,900,000.00|
|SQ. FT. Available||9,230|
The Shoppes at Midtown is situated directly on Parris Island Gateway (Highway 802) in front of the bustling grocery anchored Midtown Village Shopping Center. With its immediate proximity to Parris Island, a large military base, this very busy area boasts a population of approximately 35,000 residents with average household incomes of approximately $65,000 within a 5-mile radius.
Port Royal is centrally located, in close proximity to downtown Beaufort and the surrounding Sea Islands in Beaufort County. Beaufort County which was recently recognized as the 12th fastest growing metro in the nation and one of the 25 best places to retire. Future job growth for the next 10 years is expected to be 41.35%. The property is centrally located just minutes from Bluffton / Hilton Head to the south and approximately an hour away from Charleston to the north.
Great investment opportunity - 100% leased, ten-year new, multi-tenant retail building situated at the front of the very busy Midtown Village Shopping Center in Port Royal / Beaufort.
Midtown Village is a Bi-Lo anchored shopping center at the heart of Port Royal's business district. Tenants at the center include McDonalds, Subway, PIzza Hut, Enmark Gas station, Palm Beach Tan, a very busy Marine supply store, a veterinarian, a few restaurants, a couple of clothing stores, a couple of medical providers and a variety of other small shop tenants. There are several points of access to the center and abundant parking for tenants and customers.
The property is 100% leased to five tenants, with staggered lease expiration dates, providing investors a stable income stream. Current NOI is $158,222. All leases are NNN and have annual escalation. Several of the tenants have been in the building since the building was completed in 2008. In this high growth market, with limited space options and increasing rents, there is upward mobility in rents.