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t r a n s l a t e

Net Lease Investment Opportunity | 7.5% Cap Rate

15 W Ashland Street
Andrews , SC 29510
PRICE : $1,200,000
CAP RATE: 7.5%
PROPERTY TYPE: Retail
SITE SIZE: 1.76 Acres
BUILDING SIZE: 23,752 SF
YEAR BUILT: 1971

Highlights

  • Operating at this location for over 30 years
  • One of only 2 grocery and pharmacy locations in the area
  • Store sales estimated at over $400/SF
  • Landlord responsibilities limited to roof only
  • NOI of $90,000
  • New municipal complex under construction 2 blocks away
  • Andrews is home to many large multi-national firms
  • Piggly Wiggly, a grocery industry pioneer has over 600 locations in 17 states, founded in 1916
  • Experienced SC based operator with 9+ Piggly Wiggly stores, 3 liquor stores and 2 restaurants in SC
  • Available financing for qualified buyers

Description

Opportunity knocks! This Piggly Wiggly, located in Andrews, SC is an established and successful single tenant full-service grocery store. The motivated Seller just adjusted the price to $1.2M or a 7.5% cap! The Andrews Piggly Wiggly is one of two full-service grocery stores between Charleston and Myrtle Beach. It includes a full-service pharmacy that creates additional store traffic. Unofficially, reported store sales are $400/SF.

The nearly ± 24,000 SF all brick store is located on ± 1.76 acres just 2 blocks from the new Andrews Municipal complex, due to open later in 2023. This location, operating continuously as a grocery since 1988, became a Piggly Wiggly in 2013, first as a corporate store and now as a franchise location. The Piggly Wiggly brand, is known in Small Town America and was established in 1916 in Memphis, TN. Today there are over 600 locations in 17 states. They are now part of an independent grocer network under the Piggly Wiggly, LLC umbrella which is owned by C&S Grocers out of Keene, NH. They provide volume buying support and distribution, store level support services and advertising support. C&S Grocers is the 8th largest privately held company in the US per Forbes Magazine’s 2021 list with over $25 B in sales. The experienced franchise operator is based out of Sumter, SC and operates 8 other Piggly Wiggly’s as well as 3 other retail concepts in South Carolina. He grew up in the grocery business, following in his father’s footsteps.

Andrews, SC is a regional treasure of commerce and tourism. According to the Andrews Town Manager, the area is becoming a regional distribution and warehousing hub. Andrews is home to several large multi-national manufactures including TSP, AgruAmerica, Peddinghaus, SafeRack, and Trebol. The state of South Carolina awarded funds of almost $15M to the state park system for the first time in 20 years. The Black River water system will create a recreational system for boating, biking and hiking that will directly benefit Andrews. It will travel from Georgetown through Andrews to Kingstree.

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