5416 Sunset Blvd
Lexington, SC 29072
Retail Property For Sale

The subject property is an 8,700 +/- sf Mattress Firm and Panera Bread located in Lexington, SC, approximately 15 miles west of the state's capital and the largest city of South Carolina, Columbia. The property sits in Lexington's main commercial corridor as an out-parcel to a Lowe's Home Improvement on Sunset Boulevard. (ADT of 31,000 +/-). Other national retailers in the immediate area include: Walmart Supercenter, Home Depot, Publix, Kohl's, Ross, T.J.Maxx, Food Lion, Regal Cinemas, Tractor Supply, and a new development across the street from the subject property called Well-More, which consists of 90 assisted care units, 48 memory care units, 48 skilled nursing units, and 14 independent cottage homes. The subject property is in a strong demographic area with the 1, 3, and 5-mile population expected to increase approximately 10% over the next five years with a high average household income over $97,000 in the 1-mile radius, over $94,000 in the 3-mile radius, and nearly $90,000 in the 5-mile. Lexington County is the 5th largest county, and is the 3rd fastest growing in the state. Columbia enjoys a diversified economy, with the major employers in the area being SCANA Energy, South Carolina state government, the Palmetto Health hospital system, BCBS of South Carolina, Palmetto GBA, and the University of South Carolina. The University of South Carolina, the state's flagship and largest University, has an enrollment of over 34,000 students on the main campus. The main campus covers over 359 acres in downtown Columbia not far from the South Carolina State House. The University is categorized by the Carnegie Foundation for the Advancement of Teaching as having "highest research activity". The University has also ranked as an "up and coming" University by U.S. News & World Report, and its undergraduate and graduate international Business programs have ranked among the top three programs in the nation for over a decade. The property, built in 2014, is 100% leased to corporate Mattress Firm through August 2025 and Panera Bread through December 2024. The Panera franchisee is Cadle, LLC, a 100 +/- unit franchisee that is a subsidiary of Covelli Enterprises (the largest Panera franchisee in the system). The Panera space does include a drive-thru and outdoor seating area. Also, during the recent re-structuring of Mattress Firm this store did not have a request for a rent reduction, which helps provide comfort that this location performs well. Both tenants reimburse for CAM, taxes, and insurance.