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OFFERING MEMORANDUM
KINGSTREE PLAZAKINGSTREE, SOUTH CAROLINA
Confidentiality and Disclaimer
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Non-Endorsement Notice
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.
Activity ID: Z0450192
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PRICING & FINANCIAL ANALYSIS
PROPERTY OVERVIEW
Property Name Kingstree PlazaProperty Address 522 East Main Street
Kingstree, SC 29556
Price $2,450,000
Price/SF $62.55
Cap Rate - Year One 8.53%
Property Type Multi-Tenant Retail
Year Built 1990
Gross Leasable Area (GLA) 39,170 SF
Lot Size 4.95 +/- Acres
Parking Spaces 226 +/- Spaces
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PRICING & FINANCIAL ANALYSIS
TENANT PROFILE
IGA GUY (W. LEE FLOWERS & CO., INC)Based in Lake City, South Carolina, IGA Food Stores, has been dedicated to serving their customers and communities for over 90 years. The company operates a total of approximately 66 IGA and KJ’s Markets stores throughout North Carolina, South Carolina, and Georgia.
IGA Guy operates more than 50 stores in South Carolina, 4 Stores in North Carolina, and 12 Stores in Georgia.
They are committed to bringing you exceptional customer service, competitive prices, fresh local produce and a meat department where our butchers make custom cuts daily. They are always Hometown Proud and ready to serve you.
Source: IGAGuy.com
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PROPERTY DESCRIPTION
Marcus & Millichap is pleased to present for sale a 39,170 square foot, grocery-anchored shopping center located in Kingstree, South Carolina. The subject property, Kingstree Plaza, was constructed in 1990 and is anchored by IGA. There are a total of seven (7) units and the property is currently 100-percent occupied. Additional tenants include Star Nails, J.D. Fashions, Loyalty Yes Tax, First Financial, and Hong Kong Restaurant.
Kingstree Plaza is located at the signalized intersection of East Main Street and Martin Luther King Jr Highway. The property has three points of ingress/egress (two on East Main Street and one on Martin Luther King Jr Highway). There is an outparcel to the north/west of the subject property that is occupied by Anderson Brothers Bank. Additional points of interest in the immediate area include Pepsi Bottling Group, Williamsburg County EMS, Bank of Greeleyville, Williamsburg Funeral Home, Family Dollar, Fred’s, and Kingstree Recreation Development. Williamsburg Regional Hospital, Williamsburg Technical College (729+ Students), Kingstree Senior High School, WM Anderson Primary School, Tomlinson High School, and Williamsburg Co Magnet School are also located within close proximity to the subject property. Traffic counts in the area include 8,400 vehicles per day on East Main Street, 6,800 vehicles per day on Martin Luther King Jr Highway, and 4,100 vehicles per day on Thurgood Marshall Highway just behind the property.
The city of Kingstree is the county seat of Williamsburg County, South Carolina. The city is located in the southeastern region of the state. Major employers in the area include Agru America Inc., Bamboosa, Corp Production Services Inc., DSM Nutritional Products, Embroidery Solutions LLC, Fresenius Medical Care, GSE Lining Technology Inc., Hemingway Refrigeration & Locker Co, House of Raeford Farms Inc., ITI Hydraulik USA, Lane Manufacturing LLC, Palmetto Synthetics LLC, Sykes Enterprise Inc., and Tupperware US Inc. Williamsburg County has a strong telecommunications infrastructure with the presence of with the presence of Farmer’s Telephone Cooperative, Santee Electric Cooperative and Duke Energy.
PROPERTY OVERVIEW• 39,170 Square Foot Grocery-Anchor Shopping
Center
• 1990 Construction | 4.95 +/- Acres
• New Roof in 2015 | 20-Year Warranty
• 100-Percent Occupied | IGA Anchor with Additional Local Tenants
• Strong Historical Sales Reported
• IGA Executed a New 15-Year Lease in 2015 | Strong Commitment to the Location
• Located at Signalized Intersection | Three (3) Points of Ingress/Egress | Total 15,200 Vehicles Per Day
• Surrounding Points of Interest Include Williamsburg Regional Hospital, Williamsburg Technical College, Williamsburg County EMS, Anderson Brothers Bank, Pepsi Bottling Group, and Farmer’s Telephone Cooperative
• County Seat of Williamsburg Count, SC
• Less Than A Miles to Williamsburg Regional Hospital and Williamsburg Technical College (729+ Students)
• 25 Miles to Nearest Walmart Supercenter
EAST MAIN STREET
MA
RT
IN L
UT
HE
R K
ING
JR
AV
EN
UE ANDERSON BROTHER BANK
NOT INCLUDED
STAR
NAI
LS
J.D F
ASHI
ONS
RIVE
RTOW
N CR
EDIT
FIRS
T FI
NANC
IAL
HONG
KON
G RE
STAU
RANT
8,400 VPD
OUTPARCELNOT INCLUDED
6
PROPERTY DESCRIPTION
SITE PLANWM Anderson Primary School
Tomlinson High School
Williamsburg Co. Magnet School
Kingstree Square28 Apartment Units
EAST MAIN STREET
MA
RT
IN L
UT
HE
R K
ING
JR
AV
EN
UE ANDERSON BROTHER BANK
NOT INCLUDED
STAR
NAI
LS
J.D F
ASHI
ONS
RIVE
RTOW
N CR
EDIT
FIRS
T FI
NANC
IAL
HONG
KON
G RE
STAU
RANT
8,400 VPD
OUTPARCELNOT INCLUDED
WM Anderson Primary School
Tomlinson High School
Williamsburg Co. Magnet School
Kingstree Square28 Apartment Units
7
PROPERTY DESCRIPTION
FACING NORTH
Kingstree Nursing Facility
Williamsburg Regional Hospital
Williamsburg Technical College
Kingstree High School
Kingstree Square28 Apartment Units
Butler Crossing42 Townhome Units
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PROPERTY DESCRIPTION
FACING SOUTH
Kingstree Square28 Apartment Units
Kingstree Square II24 Apartment Units
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PROPERTY DESCRIPTION
FACING EAST
Butler Crossing42 Townhome Units
McDonaldsWilliamsburg County GovernmentKingstree Recreation
Department
10
PROPERTY DESCRIPTION
FACING WEST
Butler Crossing42 Townhome Units
McDonaldsWilliamsburg County GovernmentKingstree Recreation
Department
11
PROPERTY DESCRIPTION
12
PROPERTY DESCRIPTION
13
DEMOGRAPHIC ANALYSIS
1 Mile 5 Mile 10 Mile2000 Households 1,402 4,455 6,9552010 Households 1,293 4,269 6,5692016 Households 1,202 3,972 6,1262021 Households 1,171 3,932 6,044
1 Mile 5 Mile 10 Mile2010 Owner Occupied Housing Units 57.1% 66.4% 71.4%2010 Renter Occupied Housing Units 42.9% 33.6% 28.6%2016 Owner Occupied Housing Units 56.3% 66.2% 70.5%2016 Renter Occupied Housing Units 43.7% 33.8% 29.5%2021 Owner Occupied Housing Units 56.5% 66.5% 70.6%2021 Renter Occupied Housing Units 43.5% 33.5% 29.4%
1 Mile 5 Mile 10 Mile2000 Population 3,696 11,951 18,5932010 Population 3,264 11,041 17,8642016 Population 3,081 10,421 16,9432021 Population 2,954 10,120 16,433
1 Mile 5 Mile 10 Mile$ 0 - $14,999 28.8% 26.8% 26.3%$ 15,000 - $24,999 17.3% 16.0% 15.2%$ 25,000 - $34,999 15.4% 12.7% 11.9%$ 35,000 - $49,999 16.1% 16.7% 17.2%$ 50,000 - $74,999 10.6% 12.7% 14.4%$ 75,000 - $99,999 3.4% 5.7% 6.9%$100,000 - $124,999 4.3% 4.6% 4.3%$125,000 - $149,999 0.7% 1.6% 1.3%$150,000 - $199,999 1.9% 2.2% 1.6%$200,000 - $249,999 0.5% 0.4% 0.3%$250,000 + 1.0% 0.7% 0.6%Median HH Income $28,167 $31,113 $32,380Per Capita Income $16,506 $17,111 $16,764Average HH Income $41,116 $44,383 $43,958
EXCLUSIVELY LISTED BY:ANDREW MARGULIESFirst Vice President | InvestmentsSenior Director, National Retail GroupCell: (312) [email protected] License: 264059IL License: 475147606
HARRISON CREASONAssociate | InvestmentsNational Retail GroupTel: (843) [email protected] License: 91161
