OAK POINT PLAZA PORTFOLIO - Broadstreet Partners
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52,445 SQUARE FEET
OAK POINT PLAZA PORTFOLIO MULTI-TENANT INVESTMENT
HIGH QUALITY TENANTS
LOCATED NEAR I-85
4120, 4122, 4124, 4126 CLEMSON BLVD & AND CLEMSON UNIVERSITY
4323, 4325, 4325A OLD MILL RD, ANDERSON, SC 29621
NOI: $293,756.00
EXCLUSIVELY PRESENTED BY
BEN HARRIS | Investment Sales | ben@broadstreetcre.com | 678.637.7193
OAK POINT PLAZA
OFFERING MEMORANDUM
TABLE OF CONTENTS
3 Investment Summary
4 Financial Analysis
5 Area Retail
6 Site Plan
7 Rent Roll
9 Tenant Summary
10 Demographics
11 Regional Overview
12 Company Info
CONTACT INFORMATION
BEN HARRIS
ben@broadtreetcre.com
678.637.7193
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 2
OAK POINT PLAZA
INVESTMENT SUMMARY
$4,500,000
LIST PRICE
6.53%
CAP RATE
$293,756
NET OPERATING INCOME
$85.80 PSF
PRICE / SF
STREET ADDRESS 4120, 4122, 4124, 4126 Clemson Blvd
1989
4323, 4325, 4325A Old Mill Rd YEAR BUILT
CITY Anderson
STATE South Carolina
TREMENDOUS VALUE ADD ENHANCEMENT
ZIP 29621 (VIA SEVERAL APPROACHES):
• Leasing the current 32% Vacant Space.
GLA 52,445 SF • Restructuring Leases from Gross to Net.
• Raising Below Market Rents
LOT SIZE +/- 4.25 Acres • Imputed Value through property redevelopment
SOLID REAL ESTATE FUNDAMENTALS: STRONG DEMOGRAPHICS:
Oak Point Plaza is an infill opportunity located along Clemson Boulevard positioned • Oak Point is also only 1.8 Miles from I-85
at the gateway of Anderson's regional shopping node. Oak Point offers a unique (which sees over 53,000 vpd).
opportunity to acquire a well-conceived "Village" mixed use center (retail & office).
The property offers a prime location with ideal exposure and access with Clemson • Clemson University is only a 12 minute drive
Boulevard offering over 30,000 vehicles per day. Oak Point is strategically located which has an enrollment of 24,000.
across from Anderson Station (one of the largest centers in the market with 242,000
SF including tenants: Old Navy, Bed Bath, Hobby Lobby, Ross, Party City, Aldi, and • Anderson is exploding with residential growth
Olive Garden (to name a few). (being only 27 miles from downtown Greenville).
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 3
OAK POINT PLAZA
FINANCIAL ANALYSIS
REVENUE VALUATION ANALYSIS
Gross Rental Income $479,436 Cap Rate 6.53%
TOTAL GROSS INCOME $479,436 Net Income $293,756
EXPENSE BREAKDOWN Price $4,500,000
Taxes (2021) $100,000
Insurance (2021) $25,877
Utilities (2021) $25,826
Trash (2021) $3,988
Sweeping, Lawn Maintenance (2021) $7,740
Management Fee (3%) $14,383
Repairs and Maintenance $7,866
TOTAL EXPENSES $185,680
NET OPERATING INCOME $293,756
NOTE 1 All leases are gross to include power, water, & CAM.
NOTE 2 The aforementioned Management Fee and R&M figures are
plug numbers.
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 4
OAK POINT PLAZA
AREA RETAIL
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 5
OAK POINT PLAZA
SITE PLAN
4325 4323
4325 -A
4124 4122 4120
4120
4126
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 6
OAK POINT PLAZA
RENT ROLL
UNIT TENANT LEASE TYPE BLDG SF MONTHLY BASE RENT CURRENT BASE RENT ANNUAL RENT PSF LEASE EXPIRATION
Suite A Miracle Ear Gross 660 $800.00 $9,600.00 $14.55 1/1/2020 to 12/31/2024
Suite B Vacant Gross 850 $0.00 $0.00 $0.00
Suite C Vacant Gross 1,396 $0.00 $0.00 $0.00
Suite D Book Keeper - Shannon Taylor Gross 575 $500.00 $6,000.00 $10.43 4/13/2022 to 4/13/2023
4120 Suite E Vacant Gross 172 $0.00 $0.00 $0.00
CLEMSON Suite F Noel Tucker RE - Sharon Fowler Gross 240 $275.00 $3,300.00 $13.75 9/1/2021 to 9/1/2023
BLVD Suite G Software - Michael Gidner Gross 240 $275.00 $3,300.00 $13.75 4/7/2022 to 4/7/2023
Suite H Paro Inc. - Lisa McCann Gross 325 $350.00 $4,200.00 $12.92 8/1/2021 to 8/1/2022
Suite I Vacant Gross 125 $0.00 $0.00 $0.00
Suite J Technical Maintenance - Charlie Campbell Gross 525 $375.00 $4,500.00 $8.57 9/1/2021 to 9/1/2022
Suite K Vacant Gross 248 $0.00 $0.00 $0.00
5,356
UNIT TENANT LEASE TYPE BLDG SF MONTHLY BASE RENT CURRENT BASE RENT ANNUAL RENT PSF LEASE EXPIRATION
Suite 1A Staffmark Gross 1,550 $1,870.00 $22,440.00 $14.48 8/1/2021 to 7/31/2024
Suite 1B Mary Kay - Jennifer Walls Gross 550 $350.00 $4,200.00 $7.64 4/1/2022 to 4/1/2023
Suite 2A Mary Kay - Jennifer Walls Gross 790 $500.00 $6,000.00 $7.59
4122 Suite 2B Vacant Gross 1,283 $0.00 $0.00 $0.00
CLEMSON Suite 1C Staffworks Gross 1,344 $1,300.00 $15,600.00 $11.61 2/1/2020 to 2/1/2025
BLVD Suite 2C, 2D Vacant (Former TV4) Gross 1,390 $0.00 $0.00 $0.00
Suite 2G Drumm Enterprise - Employee Screening Lab Work - Tom Drumm Gross 1,200 $1,000.00 $12,000.00 $10.00 4/1/2022 to 3/1/2024
Suite 3G Senior Helpers - Virginia Ricketts Gross 1,200 $1,200.00 $14,400.00 $12.00 4/14/2020 to 4/14/2023
Suite 4G Trainer - Chris Zerfoss Gross 1,680 $1,300.00 $15,600.00 $9.29 Month to Month
10,987
UNIT TENANT LEASE TYPE BLDG SF MONTHLY BASE RENT CURRENT BASE RENT ANNUAL RENT PSF LEASE EXPIRATION
Suite A All State Insurance Gross 1,495 $1,350 $16,200.00 $10.84 4/1/2022 to 3/31/2027
Suite 1B Advanced Hearing Care Center - Ronnie Noland Gross 272 $350.00 $4,200.00 $15.44 3/25/2021 to 3/25/2023
Suite 2B Prime Lending Gross 1,292 $1,663.00 $19,956.00 $15.45 4/30/2025
Suite C Hair Design - Keysha Holmes Gross 1,800 $1,500 $18,000.00 $10.00 4/1/2022 to 3/31/2027
Suite C Counselor - Aaron Maurer Gross 172 $500.00 $6,000.00 $34.88 4/1/2022 to 3/31/2023
4124 Suite D Counselor - Aaron Maurer Gross 240
CLEMSON Suite D Vacant Gross 1,750 $0.00 $0.00 $0.00
BLVD Suite 2D Vacant Gross 1,750 $0.00 $0.00 $0.00
Suite E Dr. Dana Wiley Gross 3,950 $3,950.00 $47,400.00 $12.00 11/26/2019 to 12/31/2025
Suite F Professional Recovery Mgt - Reggie Morris, Fox Gross 2,145 $2,375.00 $28,500.00 $13.29 4/14/2022 to 4/14/2023
Suite G & H CAMTS Gross 915 $1,070.00 $12,840.00 $14.03 7/1/2021 to 7/1/2024
Suite J & M Vacant Gross 1,648 $0.00 $0.00 $0.00
Suite K Mainstream Rehab Services - Chaka Smith/James Roundtree Gross 448 $500.00 $6,000.00 $13.39 7/7/2020 to 7/7/2023
Suite L Vacant Gross 2,102 $0.00 $0.00 $0.00
19,979
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 7
OAK POINT PLAZA
RENT ROLL
UNIT TENANT LEASE TYPE BLDG SF MONTHLY BASE RENT CURRENT BASE RENT ANNUAL RENT PSF LEASE EXPIRATION
Suite 1A Lake Realty Gross 835 $1,000.00 $12,000.00 $14.37 4/18/2022 to 4/18/2023
Suite 1B Vacant Gross 793 $0.00 $0.00 $0.00
4126 Suite 2B Edward Jones Gross 1,174 $1,500.00 $18,000.00 $15.33 3/1/2018 to 2/28/2023
CLEMSON Suite C Homestar Financial Corp - John Price Gross 1,480 $1,200.00 $14,400.00 $9.73 9/1/2021 to 9/1/2023
BLVD Suite 2E Vacant Gross 700 $0.00 $0.00 $0.00
Suite F Vacant Gross 1,100 $0.00 $0.00 $0.00
Suite G Mandaline Bar & Grill Gross 3,500 $2,200.00 $26,400.00 $7.54 3/30/2021 to 3/31/2026
9,582
UNIT TENANT LEASE TYPE BLDG SF MONTHLY BASE RENT CURRENT BASE RENT ANNUAL RENT PSF LEASE EXPIRATION
4323
OLD MILL Suite 1A Christian Science Church Gross 1,458 $1,600.00 $19,200.00 $13.17 11/9/2021 to 11/9/2024
ROAD Suite B Early Autism Gross 2,992 $3,500.00 $42,000.00 $14.04 11/5/2015 to 10/31/2023
4,450
UNIT TENANT LEASE TYPE BLDG SF MONTHLY BASE RENT CURRENT BASE RENT ANNUAL RENT PSF LEASE EXPIRATION
4325 A
OLD MILL Suite 1A Allen Tate RE Gross 1,620 $1,600.00 $19,200.00 $11.85 2/1/2021 to 4/31/2024
ROAD Suite 12B Vacant Gross 1,380 $0.00 $0.00 $0.00
3,000
UNIT TENANT LEASE TYPE BLDG SF MONTHLY BASE RENT CURRENT BASE RENT ANNUAL RENT PSF LEASE EXPIRATION
4325
OLD MILL Suite 2C Ultra Pet (Harvest Ventures) Gross 2,000 $2,000.00 $24,000.00 $12.00 1/15/2022 to 1/15/2024
ROAD Suite 2D Ultra Pet (Harvest Ventures) Gross 1,545 $2,000.00 $24,000.00 $15.53
3,545
Vacancy 32% 16,687
Leased GLA 40,212
Total GLA 56,899
Personal Residence 4,454
Net GLA Minus Residence Bldg 52,445
The site is only 1.8 Miles from I-85 which sees over 51,000 vpd, and only 12 Miles from Clemson University, which has an enrollment of 25,000.
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 8OAK POINT PLAZA
TENANT SUMMARY
4120 4122 4124 4126
CLEMSON BLVD
RENTABLE SF 5,356 RENTABLE SF 10,987 RENTABLE SF 19,979 RENTABLE SF 9,582
OCCUPANCY
OCCUPANCY 47.9% OCCUPANCY 75.7% PERCENTAGE 63.7% OCCUPANCY 72.9%
SUITE COUNT 11 SUITE COUNT 9 SUITE COUNT 14 SUITE COUNT 7
VACANT SF 2,791 VACANT SF 2,673 VACANT SF 7,250 VACANT SF 2,593
4323 4325 4325 A
OLD MILL ROAD
RENTABLE SF 4,450 RENTABLE SF 2,545 RENTABLE SF 3,000
OCCUPANCY 100% OCCUPANCY 100% OCCUPANCY 54%
SUITE COUNT 2 SUITE COUNT 2 SUITE COUNT 2
VACANT SF 0 VACANT SF 0 VACANT SF 1,380
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 9OAK POINT PLAZA
DEMOGRAPHICS
RADIUS 1 MILE 3 MILE 5 MILE
Population
2026 Projection 3,850 22,752 61,284
2021 Estimate 3,759 21,656 58,327
2010 Census 3,458 20,336 54,130
Projected Annual Growth 2021–2026 0.5% 1.0% 1.0%
Historical Annual Growth 2010 –2021 0.8% 0.6% 0.7%
Households
1 MILE
2026 Projection 1,605 9,443 24,753
2021 Estimate 1,594 9,143 23,975
2010 Census 1,445 8,449 21,995 3 MILE
Projected Annual Growth 2021–2026 0.1% 0.7% 0.6%
Historical Annual Change 2000–2021 2.1% 1.3% 1.3%
5 MILE
2021 Average Income Estimate $67,631 $80,638 $79,138
2021 Median Income Estimate $56,230 $65,914 $61,295
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 10OAK POINT PLAZA
REGIONAL OVERVIEW
ANDERSON
Anderson County lies along I-85 in the northwestern portion of Upstate
South Carolina, halfway between Charlotte, NC and Atlanta, GA. The area,
GREENVILLE
with one of the lowest costs of living in the United States, is a thriving
Renowned for its exceptional business climate and superior quality of industrial, commercial, and tourist center. With more than 15 universities
life, the Upstate of South Carolina is bursting with growth, start-ups, and and colleges within 50 miles of Anderson, there are many great higher
a robust economy. With its affordable standard of living, low crime, great education options for students. With all of these, Anderson County has
schools, and a vibrant culture, Greenville is a mid-sized city with a smalL the integrated resources available to help train and develop a highly
town heart; the perfect combination for business location or expansion. skilled workforce with the prestigious education and training programs
of institutions including Anderson University, Clemson University, and Tri-
Finding an abundance of streams and rivers, textile manufacturers began County Technical College. Anderson County is also home to 55,950-acre
operating in Upstate South Carolina in the 1820s. From those early days, Lake Hartwell, a U.S. Army Corps of Engineers lake with nearly 1,000
Greenville County has gradually transformed from the textile capital miles of shoreline for residential and recreational use. Its communities
of the world into an office, engineering, and advanced manufacturing have a small-town feel that make people want to stay.
center of excellence. As South Carolina’s most populous county,
Greenville is situated in the northwestern corner of the state and is part
of one of the nation’s fastest growing areas, “The I-85 Mega-Growth
Corridor.” Located on I-85 between Charlotte, NC and Atlanta, GA,
Greenville is just 200 miles via I-26 to the Atlantic Ocean and the Port
of Charleston. To the northwest and just 30 minutes away are the Blue
Ridge mountains. Access to the rest of the U.S. is made easy by the local
airport, Greenville- Spartanburg International Airport (GSP), recognized
as one of the most user friendly ones in the nation. With a unique blend
of southern traditions and international influences, gentle rolling hills and
beautiful, majestic mountains, Greenville County is just the right mix for a
great place to live, work, and play.
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 11OAKPOINT PLAZA
COMPANY INFO
CONTACT INFORMATION
BEN HARRIS Ben Harris joined Broadstreet in 2020. He brings over 23 years of experience in commercial real
ben@broadtreetcre.com estate and has participated as a principal in deals that exceed $350 million in value. Additionally, Ben
678.637.7193 is intimately familiar with the southeast from more than 17 years with a regional geographic focus. His
depth of experience offers clients a unique, analytical perspective and ability to navigate all aspects
of a transaction.
Ben founded Tricorp Investments in 2011 and primarily conducted business in the retail sector. There
he executed an array of projects comprised of new development, acquisition, recapitalizations, and
single tenant build-to-suits. His projects’ tenants included Target, Kohl’s, Belk, Barnes & Noble, DSW,
Old Navy, Banana Republic, Trader Joe’s, J Crew, Victoria’s Secret, Ann Taylor, Best Buy, Petco, Shoe
Carnival, CVS, Starbucks, Dollar Tree, Kirkland’s, California Pizza Kitchen, Bed Bath & Beyond, Borders,
Urban Outfitters, Z Gallerie, Ulta Salon, Anthropologie, Apple, and more.
Prior to Tricorp, Ben co-founded and operated Tricore Partners from 2003 to 2010 in Atlanta, GA,
directed landlord leasing and sales for a multi-faceted development firm, and worked in general
brokerage in the industrial sector for Goodman Seegar Hogan Hoffler from 1997 to 2002.
Ben holds a BS in Business Administration from Clemson University. He enjoys spending time with his
wife Kay and their five children Gibson, Reynolds, Milly, Elizabeth, and Riley. He is a member of the
International Council of Shopping Centers and All Saints Church.
CONFIDENTIAL OFFERING MEMORANDUM DISCLAIMER: The Offering Memorandum was prepared by Broadstreet Partners solely for the use of prospective purchasers of 121, 123, 125, 125 W Antrim Drive, Greenville, SC
29607. The Brokers do not make any representation or warranty, express or implied, as to the completeness or the accuracy of the material contained in the Offering Memorandum.
Prospective purchasers of the Property are advised (1) that changes may have occurred in the physical or financial condition of the Property since the time this Offering Memorandum was prepared and (2) that the projections
contained herein were made by Brokers and are based on assumptions of events beyond the control of Brokers, and therefore may be subject to variation. No representation is made by Broadstreet Partners as to the
accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the property. Although the information
contained herein is believed to be correct, the owner and its employees disclaim any responsibility for inaccuracies, and expect prospective purchasers to exercise independent due diligence in verifying all such information.
Further, Broadstreet Partners, and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or for omissions from the Memorandum or any other written or oral
communication transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the owner since
the date of preparation of the Offering Memorandum.
Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. The Offering Memorandum is a solicitation of interest only and is not an offer to sell
the Property. The Seller expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and expressly reserve the right, at their sole discretion, to terminate
discussions with any entity at any time with or without notice. The owner shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property
unless and until such offer for the Property is approved by seller pursuant to its Investment Committee authorities and the signature of a duly authorized signatory of owner is affixed to a Real Estate Purchase Agreement
prepared by owner.
This Offering Memorandum is confidential. By accepting the Offering Memorandum, you agree (1) that you will hold and treat the Offering Memorandum and its contents in the strictest confidence, (2) that you will not
photocopy or duplicate any part of the Offering Memorandum, (3) that you will not disclose the Offering Memorandum or any of its contents to any other entity without prior authorization of the Owner, and (4) that you will
not use the Offering Memorandum in any fashion or manner detrimental to the interest of the owner or Brokers. If you have no further interest in the Property, please return the Offering Memorandum forthwith.
OAK POINT PLAZA PORTFOLIO | Clemson Boulevard & Old Mill Rd | Anderson, SC 29621 BROADSTREET PARTNERS | 864.640.6440 | BroadstreetCRE.com p. 12You can also read
