August 31, 2020 – Kyle Danielson and RJ Tuller of Horvath & Tremblay have successfully completed the sale of TD Bank in Lexington, South Carolina. Horvath & Tremblay procured the buyer to complete this transaction at a sale price of $2,400,000, a 5.73% Cap Rate.
TD Bank is located at 575 Columbia Avenue in Lexington, South Carolina. The stand-alone building contains 6,023 square feet, including a drive through on a 1.45-acre lot. TD Bank has been at this location since 2003 and recently extended their lease early. TD Bank has 10 years remaining on an Absolute NNN Lease, as well as four, 5-year renewal options. The lease calls for increases every five years throughout the base term and renewal options. The property is well located along Columbia Avenue and benefits from excellent visibility, two points of access and a traffic count of 30,000 vehicles per day.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.