This property has sold.
Details: Retail
Asking Price: $2,818,000
Square Feet: 510 SF
Asking Cap Rate: 5.5%
Year Built: 2023
NOI: $155,000
Lease Structure: Absolute NNN
Hwy 17 and Vereen Rd North Myrtle Beach, SC, North Myrtle Beach, SC 29582
•Absolute triple net lease (Zero Landlord Responsibilities)
•Brand New, 15-Year, Lease (2023 construction) with 5 (5-year) options to extend
•Annual rent escalations, providing Inflation Protection
•Lease guaranteed by 7Ventures, Inc. which is a subsidiary of KMAC (one of the Largest Restaurant Operators in the country with over 320+ units). There are more than 40 KMAC Seven Brew locations under development or open throughout the county, with an expectation to Grow To 200+ Locations.
•Excellent Trade Area adjacent to Food Lion, Burlington, Dicks, Publix and more
•Centrally Located to several neighborhoods and multifamily developments
•2022 Population
•1 Mile – 3,559
•3 Mile – 23,315
•Located along Hwy 17N, the most heavily traveled thoroughfare in the Myrtle Beach MSA
•Strong traffic counts on Hwy 17N of over 42,000 VPD
•Over 19,000,000 tourists visit Myrtle Beach annually
This property has sold.