Vitamin Shoppe, Marco's Pizza, Mattress Firm & Tropical Grille
Closed5449 Sunset Blvd, Lexington, SC 29072
Property type
Retail
Unit / Space count
4
CAP
5.97%
Building size
9,917 SF
Year built
2015
Lot size
1.41 acres
Sold/status
Sold · Date unknown
Sale price
$3905000
Property description
Franklin Street is pleased to present the opportunity to acquire a newer construction street front retail center with Mattress Firm, Vitamin Shoppe, Marco's Pizza, and Tropical Grille in the Columbia, SC MSA. Lexington is located just 10 miles west of Columbia, the state capital and second largest city. The metropolitan is made up of 850,000+ residents and is home to the University of South Carolina. Lexington is a bedroom community located on Lake Murray, which is 50,000 acres. The property is located on Sunset Blvd which is the main retail corridor for Lexington with every major big box retailer in the market. The site sits in front of a newly developed retirement community, which is a five star rated community. The tenant lineup is made up of a strong mix of national and regional operators. Upon exiting bankruptcy in 2018, Mattress Firm's rent went from $30 PSF to $20.90 PSF, which is significantly below market for an end cap space providing an investor future rental upside.
Property highlights
- Newer construction 9,917 SF street front retail center in Columbia SC MSA
- Major retail corridor: Publix, Lowes, Kohls, Walmart, Ross, TJMaxx, Petco, Ulta, Home Depot and Planet Fitness
- Excellent visibility: 42,000 VPD on Sunset Blvd
- Affluent suburb: $100k+ HHI in the immediate area
- Strong tenant mix of nationals and regional operators with strong followings
- Located at the entrance to Wellmore Assisted Living, a luxury retirement community with assisted living, memory care, skilled nursing and short-term rehab
- Lower Mattress Firm rent number at $20.90 PSF. Mattress Firm has plans to file for IPO
- Established national tenant base: 3 of 4 tenants have been in the center since development and Tropical Grille has a strong following throughout South Carolina with 11 locations and growing