Citi Trends | 287 Lee St
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Citi Trends 287 Lee St
8,700 SF Retail Building Johnston, SC 29832 £469,470 (£54/SF) 4.49% Net Initial Yield
Investment Highlights
- Major Retailer with +/- 600 locations
- Augusta MSA Advantage
- Gross lease with low in-place rent: Upside Potential
- Fitting Demographic Profile
Executive Summary
Colliers is pleased to offer qualified investors the opportunity to acquire a singletenant Citi Trends in the town of Johnston, South Carolina in the Augusta MSA. In January 2024, Citi Trends signed a lease amendment that extended their lease through July 31, 2026. Citi Trends, which was founded in 1958 in Savannah, Georgia is publicly traded on the Nasdaq under the ticker CTRN. In total, Citi Trends has ~600 stores in 33 states and was a top 50 retailer per HTT’s top 50 Retailers report for 2022. The company employs over 5,000 people and their low-cost concept is critical in the current high inflation development.
The subject property benefits from being located within the Augusta MSA, the thirdlargest MSA in Georgia, with a population of +/- 630,000 residents. Johnston benefits from being centrally located to Augusta and Columbia as it sits on major transportation routes such as U.S. 121. The economy has strong agriculture and agribusiness ties as the area produces about 60% of the state of South Carolina’s peaches, of which the state is the second largest producer in the United States.
The subject property benefits from being located within the Augusta MSA, the thirdlargest MSA in Georgia, with a population of +/- 630,000 residents. Johnston benefits from being centrally located to Augusta and Columbia as it sits on major transportation routes such as U.S. 121. The economy has strong agriculture and agribusiness ties as the area produces about 60% of the state of South Carolina’s peaches, of which the state is the second largest producer in the United States.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,700 SF
Building Class
B
Year Built/Renovated
1900/2007
Price
£469,470
Price Per SF
£54
Net Initial Yield
4.49%
NOI
£21,089
Tenancy
Single
Number of Floors
1
Building FAR
0.25
Lot Size
0.81 AC
Parking
20 Spaces (2.3 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 180-15-01-006-000 | Improvements Assessment | £23,599 |
| Land Assessment | £1,878 | Total Assessment | £25,477 |
PROPERTY TAXES
Parcel Number
180-15-01-006-000
Land Assessment
£1,878
Improvements Assessment
£23,599
Total Assessment
£25,477
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Citi Trends | 287 Lee St
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