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PDS Health Pad | Lexington, SC 808 Highway 378 7,000 SF 100% Leased Retail Building Lexington, SC 29072 $3,825,000 ($546.43/SF) 6% Cap Rate
Investment Highlights
- 100% Occupied Three-Tenant Pad; Service-Based, Internet-Resistant Tenant Mix: PDS Health, My Pharmacy & Optical, and The Nail Room
- Rents at the Subject Property Were Set in 2019–2020, Before COVID and the Resulting Surge in Construction Costs
- The Nail Room Is on a “Naked” Lease Paying Only $27.40 PSF for a 1,400 SF Endcap Space
- All Tenants Are on Long-Term NNN Leases With Staggered Lease Expirations
- This Presents Meaningful Upside Potential, as Comparable Lease Rates Today Would Be Significantly Higher
- Corporate PDS Health, LLC Lease (1,000+ Locations); Ranks Within the Top 16% of All PDS Health Locations Nationwide (Placer.ai)
Executive Summary
100% Occupied 3-Tenant Pad; Service-Based Internet-Resistant Tenants | Hard Corner, Signalized Intersection (27,500 CPD) | High-Growth Columbia Suburb; 136% Population Growth (2000-2023)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,000 SF
Building Class
B
Year Built
2019
Price
$3,825,000
Price Per SF
$546.43
Cap Rate
6%
NOI
$229,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
1.15 AC
Zoning
C - Commercial
Parking
56 Spaces (8 Spaces per 1,000 SF Leased)
Frontage
496’ on U.S. 378
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- My Pharmacy & Optimal
- Health Care and Social Assistance
- -
- -
- May 2030
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| My Pharmacy & Optimal | Health Care and Social Assistance | - | - | May 2030 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 004200-06-040 | Improvements Assessment | $35,868 |
| Land Assessment | $42,078 | Total Assessment | $77,946 |
Property Taxes
Parcel Number
004200-06-040
Land Assessment
$42,078
Improvements Assessment
$35,868
Total Assessment
$77,946
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PDS Health Pad | Lexington, SC | 808 Highway 378
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