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2037 S Irby St 2,325 SF 100% Leased Retail Building Florence, SC 29505 $3,410,000 ($1,466.67/SF) 5.25% Cap Rate
Executive Summary
Charleston Commercial has been exclusively engaged to solicit offers for the sale of a brand-new, corporate-guaranteed Chipotle Mexican Grill in Florence, South Carolina, priced at $3,410,000 (5.25% cap rate). Chipotle executed a 15-year absolute NNN lease with four (4), five (5)-year renewal options and 10% rental escalations every five years — in both the primary term and all option periods. The asset is positioned directly on South Irby Street, immediately across from a Walmart Supercenter, within one of Florence’s most active retail corridors, and sits at the front of a newly developed, multi-parcel outparcel node that will also include Scrubby’s Car Wash and a national coffee chain.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
2,325 SF
Building Class
B
Year Built
2026
Price
$3,410,000
Price Per SF
$1,466.67
Cap Rate
5.25%
NOI
$179,025
Percent Leased
100%
Building Height
1 Story
Building FAR
0.02
Lot Size
2.97 AC
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 00150-01-007 | Improvements Assessment | $0 |
| Land Assessment | $37,023 | Total Assessment | $37,023 |
Property Taxes
Parcel Number
00150-01-007
Land Assessment
$37,023
Improvements Assessment
$0
Total Assessment
$37,023
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