Suber Commons
Closed1488-1494 W. Wade Hampton Blvd, Greer, SC 29650
Property type
Retail
Price
$8,660,000
Building size
20,193 sf
Rentable area
20,193 SF
Year built
2014
Year renovated
Occupancy
Zoning code
Lot size
2.44 Acres
Sold/status
Sold · Date unknown
Sale price
$8660000
CAP
6.41%
Net Operating Income
$592,735
Property description
Franklin Street is pleased to present Suber Commons, a 20,200 SF street-front retail strip in the booming Greenville, South Carolina market. Greenville, known for its dynamic growth and vibrant community, is one of the fastest-growing cities in South Carolina. It ranks among the top cities for quality of life and affordability, making it an attractive destination for both businesses and residents. The Greenville area serves as a significant economic driver for the Upstate region, with a diverse population and a strong job market. Key industries in Greenville include advanced manufacturing, healthcare, and technology, with major employers such as BMW, Michelin, and Prisma Health. The city is also home to a burgeoning tech scene, contributing to its rapid growth and development. Greenville’s population boom is fueling extensive commercial, residential, and industrial construction, with projects totaling over $1 billion. The retail sector in Greenville remains robust, with a low vacancy rate and steady rent growth, reflecting the area’s economic vitality and resilience. Greer is currently growing at a rate of 8.57% annually and it's population has grown 40%+ each of the last two decades. Suber Commons is made up of primarily national tenants including Five Guys, IHOP, Heartland Dental, AFC Urgent Care, Batteries Plus, America's Best Contacts, and PT Solutions. The property has seen very little tenant turnover since it was constructed in 2014, as all but one tenant is original to the center. Since that time, rents have continued to increase along the corridor and much of the rent roll could be considered below market today. Most every tenant on the rent roll has exercised at least one option, showing commitment to the property. The tenant mix is a strong mixture of daily use and service tenants that remain Amazon resistant. Facing the Wade Hampton Blvd, the center receives visibility from some of the highest daily traffic counts in the metro at 47,300 vehicles a day. The center has been well maintained by institutional ownership throughout its lifespan and several tenants have renovated their spaces to meet today's consumers needs. The site sits on a hard corner at a lighted intersection and is surrounded by major big box retailers including Target, Home Depot, Lowe's, Hobby Lobby, Kohl's, Walmart, and many other traffic-generating retailers and restaurants. The location is densely populated by growing neighborhoods and already has over 115,000 residents within the 5 mile radius of the property.
Property highlights
- 20,193 SF Street-Front Convenience Retail Strip in the Greenville-Spartanburg MSA
- National Retailer Lineup: Five Guys, IHOP, Heartland Dental, AFC Urgent Care, Batteries Plus, America's Best Contacts
- Located at a Signalized Hard Corner Facing Wade Hampton Blvd (47,300 VPD)
- Stabilized Rent Roll With Market to Market Opportunity Should a Tenant Ever Leave
- Affluent Greenville Suburb With $100,000+ Household Incomes
- Greenville-Spartanburg MSA Ranked Among Fastest Growing in the Country
- Two Oversized Pylons Giving Tenants Additional Visibility