Oakland Mill

2710 Fair Ave Newberry, SC 29108

FOR SALE
Property Type:
MultiFamily Apartments
FOR SALE
Amount:
Please Call Broker for Price

Last Verified:
Jun 18, 2019

Highlights

  • • The mill was converted to a Mixed Use property in 2011
  • • 123 Apartment units, Event spaces, 5200+ SF Retail shops, and the ability
  • to add more units.
  • • Residential side @ 70% occupancy, Student Housing @ 100%
  • • Owner Managed
  • • Property is located in an Opportunity Zone
  • • Huge value add potential

Description

SVN BlackStream is pleased to present this opportunity to purchase a Mill Conversation in Newberry SC. With incredible upside potential through solar power, tax cuts, and increased master lease rates this is a rare opportunity to own a student housing mill in a growing town. Opportunity to add additional beds as well as complete 3 additional buildings on the property. The property is located in an opportunity zone.

This mill conversation in Located In Newberry. Just a few blocks from Newberry College and Main street Newberry. Incredible growth in both the College and the town of Newberry. Major industries in the area, Kraft Foods, Georgia Pacific and Samsung. The college is experiencing record years of enrollment and the Major Employers are expanding.

Building Size: 274502.0sq ft
Lot Size: 0.0 acres

Map of 2710 Fair Ave , Newberry, SC, 29108

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.