2791-2895 David H Mcleod Blvd | Florence, SC 29501
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2791-2895 David H Mcleod Blvd
Florence, SC 29501
The Commons at Magnolia · Retail Property For Sale
Investment Highlights
- Synergistic Retail Environment: The site is part of a vibrant retail ecosystem, with neighboring anchors like Magnolia Mall, Target, several hotels, a
- Robust Traffic Counts: The asset enjoys exceptional exposure with daily traffic counts of 17,000 vehicles on David H McLeod Blvd, 50,454 on I-95, and
- High Occupancy Rates: With minimal vacancies in the surrounding submarket, the center has consistently attracted and retained tenants, ensuring a stab
Executive Summary
Prime Location: Situated on the primary retail corridor in the Florence market, this property benefits from unparalleled visibility at the intersection of I-95 and I-20.
Recent Leasing Success: The property has a proven track record of quickly backfilling any vacancies as shown with the recent addition of Michaels.
Exceptional Curb Appeal: The well-maintained parking lot and landscaping, recently resealed and restriped, provide an inviting atmosphere for shoppers.
Strong National Tenant Presence: The new lease with Michael’s, secured at a significantly higher rent than the previous tenant, underscores the continued national interest and confidence in this market.
High Occupancy Rate: With a 91% occupancy rate, coupled with recent leasing and renewal activity, the center demonstrates strong and consistent demand for its retail spaces.
Optimized Lease Structures: Staggered lease expirations provide stability and reduce the risk of multiple vacancies at any given time, ensuring a steady income stream.
Recent Leasing Success: The property has a proven track record of quickly backfilling any vacancies as shown with the recent addition of Michaels.
Exceptional Curb Appeal: The well-maintained parking lot and landscaping, recently resealed and restriped, provide an inviting atmosphere for shoppers.
Strong National Tenant Presence: The new lease with Michael’s, secured at a significantly higher rent than the previous tenant, underscores the continued national interest and confidence in this market.
High Occupancy Rate: With a 91% occupancy rate, coupled with recent leasing and renewal activity, the center demonstrates strong and consistent demand for its retail spaces.
Optimized Lease Structures: Staggered lease expirations provide stability and reduce the risk of multiple vacancies at any given time, ensuring a steady income stream.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
102,234 SF
Building Class
B
Year Built/Renovated
1990/2002
Price
$16,825,000
Price Per SF
$165
Cap Rate
8%
NOI
$1,346,000
Percent Leased
96%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
11.67 AC
Zoning
CI - Commercial
Parking
435 Spaces (4.25 Spaces per 1,000 SF Leased)
Frontage
789 FT on I-95
Amenities
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 00099-01-080 | Improvements Assessment | $209,182,023 |
| Land Assessment | $37,568,000 | Total Assessment | $246,750,023 |
PROPERTY TAXES
Parcel Number
00099-01-080
Land Assessment
$37,568,000
Improvements Assessment
$209,182,023
Total Assessment
$246,750,023
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