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Marcus & Millichap Facilitates $6.3M Sale Of Walgreens Property In Rock Hill, SC

Property Image
SOLD
$6,250,000
Dean Giannakopoulos
Harrison Creason
+ 1

South Carolina

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Retail14,550 SF
Sold 10/30/2023
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Property Image
SOLD

Marcus & Millichap Facilitates $6.3M Sale Of Walgreens Property In Rock Hill, SC

1645 Cranium Drive

See Similar Deals
Retail14,550 SF
Sold 10/30/2023
Dean Giannakopoulos
Harrison Creason
+ 1
Contact now

Summary

SOUTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$429
Total Square Footage:14,550 SF
Transaction Type:Sale

Marcus & Millichap recently facilitated the sale of a retail property in Rock Hill, SC. The property, located at 1645 Cranium Drive, was sold by Zosime, LLC for a total price of $6,250,000. The building spans an area of 14,550 square feet and is occupied by Walgreens under a triple-net-lease arrangement. With a price per square foot of $430, this single-tenant property offers an attractive investment opportunity in the Rock Hill market.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $6,250,000
  • Square Footage: 14,550
  • Price per Square Foot: $430
  • Address: 1645 Cranium Drive, Rock Hill, SC
  • Seller: Zosime, LLC

Leading the deal on behalf of Zosime, LLC were Andrew Margulies, Harrison Creason, and John Berger, who represented the seller as brokers from Marcus & Millichap. Dean Giannakopoulos, also from Marcus & Millichap, acted as the mortgage broker. This transaction highlights the expertise and effectiveness of the Marcus & Millichap team in facilitating successful real estate deals.

Players

Dean Giannakopoulos
13 deals$96.3M volume
BROKER

Andrew Margulies
Marcus & Millichap
15 deals$85.9M volume
BROKER

Harrison Creason
Marcus & Millichap
12 deals$78.3M volume(843) 952-2257
BROKER

John Berger
Marcus & Millichap
2 deals$10.3M volume(704) 831-4644
BROKER

Details

SOLD
IMAGE: Andrew Margulies, Harrison Creason & John Berger DATE: 10/30/2023 ADDRESS: 1645 Cranium Drive MARKET: Rock Hill, SC ASSET TYPE: Retail SELLER: Zosime, LLC BROKERS: Andrew Margulies, Harrison Creason & John Berger - Marcus & Millichap MORTGAGE BROKERS: Dean Giannakopoulos - Marcus & Millichap SALE PRICE: $6,250,000 SF: 14,550 ~ PPSF: $430 NOTE: Marcus & Millichap facilitated the sale of a single-tenant property in Rock Hill for $6.3 million. The property, a 14,550-square-foot building, is occupied by Walgreens under a triple-net-lease arrangement.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
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