For Sale
$1,899,000

4806 Highway 17Myrtle Beach, SC 29575

High-growth Myrtle Beach retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 1,438 square foot Take 5 Oil Change, located at 4806 Hwy 17 in Myrtle Beach, South Carolina. Built in 2023, this Class A property sits on a 0.59-acre lot and boasts a 15-year absolute NNN lease with a highly creditworthy franchisee tenant. The lease includes three five-year renewal options, with a 10% rent increase every five years, ensuring consistent income growth. The property generates a strong net operating income (NOI) of $121,560, resulting in an attractive 6.40% cap rate. Strategically positioned on a hard corner with high visibility at the intersection of Hwy 17 and Palmetto Pointe Blvd (approximately 84,000 vehicles per day), this location benefits from exceptional traffic counts and proximity to over 639,000 square feet of retail space within a one-mile radius, exhibiting a low 1.4% vacancy rate. Hwy 17 itself sees over 75,000 vehicles per day, providing easy access for customers. The surrounding area is experiencing significant growth, with over 9,500 residents within a one-mile radius and a projected annual growth rate of 4.4% over the next five years. Myrtle Beach's rapid expansion, recognized as one of the fastest-growing cities in the US for three consecutive years, further enhances the long-term value of this investment. The asking price is $1,899,000. This is a turnkey investment with zero landlord responsibilities.

Highlights

  • Experienced operator with a proven track record.
  • Currently operates 12 locations, with 6 more under development by 2024.
  • Well-established, nationally recognized brand with over 1,000 locations and aggressive expansion plans.
  • Attractive lease terms: 15-year ground lease with 10% rent increases every 5 years and three 5-year options. Zero landlord responsibilities.
  • High-visibility location on a signalized intersection at the hard corner of Hwy 17 & Palmetto Pointe Blvd (84,000 VPD).
  • Strong retail market: over 639,000 SF of retail within a 1-mile radius, boasting a 1.4% vacancy rate. Hwy 17 traffic exceeds 75,000 VPD.

Property Details for 4806 Highway 17

Property type
Retail properties, Retail space
Square Feet
1,438 SF
Class
A
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
25,700 SF

Location Insight

City
Myrtle Beach
County
Horry
State
South Carolina
Latitude
33.6784736
Longitude
-78.9660946
4806 Highway 17, Myrtle Beach, South Carolina

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4806 Highway 17
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