221 W Laurens St - Medical FOR SALE


Laurens, SC 29360
$500,000 USD
864-637-9302
221 W Laurens St, Laurens, SC for Sale
$500,000 USD
Medical - FOR SALE
1/24
null | 3.78% Cap Rate

221 W Laurens St
Laurens, SC 29360


HIGHLIGHTS

  • Substantial renovation in 2022 – All the work is done, just lease it up
  • Longstanding tenant in place – Stable income with upside potential
  • 62% vacancy for value-add potential – Lease up and increase cash flow
  • Rare dedicated parking (18 spaces) – An asset in the downtown market
  • Pro-forma NOI: ±$70,000 annually – Strong upside potential

OVERVIEW

Reedy River Retail at SVN | Blackstream is pleased to present this well-positioned office building, originally built in 1974, underwent a major renovation in 2022, bringing it up to modern standards while preserving its solid foundation. The property is anchored by Gleamns Human Resources Commission, a longstanding tenant occupying approximately 38% of the building. With their lease up for renewal, this presents a great opportunity to renegotiate and bring rents to market. The remaining 62% of the building is vacant, creating an excellent value-add opportunity for an investor looking to lease up the space and maximize returns. With a pro-forma annual NOI of approximately $70,000, this property is ready for a new owner to step in, stabilize, and capitalize on its full potential. One of the biggest perks is dedicated parking. In a downtown setting where parking is scarce, this property offers approximately 18 dedicated spaces, a rare and highly desirable amenity for tenants. This is a turnkey investment opportunity for an owner-operator or savvy investor looking to take advantage of an already-improved asset with built-in upside.

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$77 USD /SF

CAP RATE

3.78%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

221 W Laurens Offices

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

Mixed Use

APN/PARCEL ID

906-11-05-007

ASK ABOUT THIS PROPERTY

Brett MitchellSVN | Palmetto CREMore Info
864-637-9302

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Brett MitchellSVN | Palmetto CREMore Info
864-637-9302

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.