For Sale
$2,000,000

577 International DrMyrtle Beach, SC 29579

High-yield Murphy USA, 9 years remaining lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a Murphy USA convenience store and gas station located at 577 International Dr, Myrtle Beach, SC 29579. The property boasts 2,500 square feet on a 1.25-acre lot, situated in a high-traffic area with strong demographics. The property benefits from a 20-year ground lease, originally commencing November 29, 2013, and expiring November 30, 2033, leaving a substantial 9 years remaining. The current annual net operating income (NOI) stands at $108,475, representing a compelling 5.42% cap rate. The lease includes scheduled rent increases of 8% every five years, providing built-in growth potential. This corporate-guaranteed, single-tenant property offers a secure investment with a strong tenant in a rapidly growing market. Myrtle Beach is experiencing significant population growth, with a 6.9% increase within a 5-mile radius from 2020-2024. The property enjoys high visibility and traffic counts exceeding 31,780 vehicles daily along Robert M. Grissom Pkwy, surrounded by major retailers such as Lowe's, McDonald's, Bojangles, Circle K, and Taco Bell. The affluent community boasts an average household income of $82,000 within a 3-mile radius, and over 67,500 individuals reside within a 5-mile radius. This is a rare opportunity to acquire a stable, high-performing retail asset in a prime location. The asking price is $2,000,000.

Highlights

  • High-traffic retail corridor anchored by national tenants including Lowe's, McDonald's, Bojangles, Circle K, and Taco Bell.
  • Located in Myrtle Beach, SC, the #1 fastest-growing city in America (U.S. News & World Report).
  • Exceptional visibility and accessibility with over 31,780 vehicles per day on Robert M. Grissom Pkwy.
  • Strong demographics: 6.9% population growth within a 5-mile radius (2020-2024).
  • Affluent trade area: Average household income exceeding $82,000 within a 3-mile radius; over 67,500 residents within a 5-mile radius.

Property Details for 577 International Dr

Property type
Retail properties, Grocery and convenience stores
Square Feet
2,500 SF
Year Built
2012
Lot Size (sq. ft)
54,450 SF

Location Insight

City
Myrtle Beach
County
Horry
State
South Carolina
Latitude
33.7588866
Longitude
-78.8581337
577 International Dr, Myrtle Beach, South Carolina

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577 International Dr
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