Cost Seg Building

A Blog About Tax Savings for Building Owners

Tag: Simpsonville SC

Cost Segregation for Retail Strip Centers

June 27, 2024 /
Southside Corners, Five Forks Simpsonville, SC – 2201 Woodruff Rd., Simpsonville, SC

Dispite Amazon supposedly killing traditional retail as we know it, retail strip centers continue to perform very well for their owners. We study a lot of these kinds of buildings and they tend to do well for their owners in terms of accelerated depreciation.

This one happens to be in Five Forks – Simpsonville, SC. It sits on a terrific corner at Woodruff Road and Highway 14 in the highly sought after area called Five Forks. There had been an old building that was at this corner and was for sale for a long time. It got demolished to make way for this gorgeous new 3 tenant retail strip. The tenants are Summer Moon Coffee, Tazikis Mediterranean Cafe and Tek Replay.

I was in the building last week and all the tenant spaces. It’s beautiful and high quality. The Boardman Group was the General Contractor and design firm that built this building. It is located adjacent to Southside Christian School which has elementary through high school. It seems there’s a built-in customer base right there.

Outback Steakhouse to Replace Torn Down Ruby Tuesday in Simpsonville, SC

January 30, 2023 /
Photo: Demolition of Former Ruby Tuesday, Simpsonville, SC – John Murphy, Cost Seg Building

Last week as I was heading down Fairview Road in Simpsonville, SC to go have coffee with a local commercial broker and his client, I noticed that demolishion was taking place at the site that once was a Ruby Tuesday. It’s on a killer corner right at Grandview and Fairview Roads in Simpsonville. It’s just off I-385. I don’t know the traffic counts right there off hand but they are massive. There are a number of large strip malls right there in the area and Fairview Road is known for having a heckuva traffic problem.

According to the tax records, NIP Simpsonville LLC purchased the property 12/3/20 for $1,500,000. I just don’t recall if Ruby Tuesday was still operating then or not. I’m thinking maybe Covid killed it off and maybe they were nearing the end of their lease and let it go.

There is a fantastic Facebook Group for Simpsonville residents which may be one of the best Facebook groups I’ve ever belonged to….anyway, the group loves talking about what’s new in the city and someone posted that this building was finally coming down and that a new Outback Steakhouse was going in. It looks like the cost to build that new restaurant will be about $2 million.

I was curious as to how well Outback Steakhouses do with their restaurants and they generate some significant sales. According to the site, Statista, the average sales for an Outback Steakhouse restaurant was $3.8 million in 2021.

© 2024 Cost Seg Building

Theme by Anders Noren — Up ↑