For Sale
$3,670,000

135 Sapwood DrMyrtle Beach, SC 29579

High-growth QSR, 15-year lease, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a brand-new, 3,065 square foot Slim Chickens restaurant in Myrtle Beach, South Carolina. Located on a 1.36-acre lot at 135 Sapwood Dr, 29579, this property boasts a 15-year absolute NNN lease commencing October 21, 2024, and expiring October 31, 2039. The lease includes scheduled rent bumps, ensuring consistent income growth. The property generates a strong net operating income (NOI) of $238,500, resulting in a 6.50% cap rate. This prime outparcel location is situated adjacent to a Publix supermarket within the Marketplace at the Mill, benefiting from high visibility on Carolina Forest Boulevard, a major thoroughfare with approximately 29,000-35,000 vehicles passing daily. The surrounding area is densely populated, with over 8,500 homes in nearby communities like Carolina Forest and Berkshire Forest, and is also near River Oaks Elementary and Carolina Forest High School, ensuring consistent customer traffic. Slim Chickens, a rapidly expanding fast-casual brand with over 200 locations nationwide, occupies the building, constructed in 2024 to its latest prototype, featuring a dual-lane drive-thru for enhanced efficiency and prominent monument signage. The property's location within a thriving retail corridor alongside national retailers like Publix, CVS, Lowe's Foods, and McDonald's further enhances its appeal and investment potential. This is an ideal opportunity for a passive investor seeking a secure, long-term, high-return investment. The asking price is $3,670,000. This offering is suitable for a 1031 exchange.

Highlights

  • High-traffic outparcel site adjacent to Publix, on Carolina Forest Blvd (29,000-35,000 VPD).
  • Strong location in Myrtle Beach's growing Carolina Forest/Berkshire Forest area (8,500+ homes) near schools (River Oaks Elementary & Carolina Forest High).
  • Fast-growing Slim Chickens franchise (204+ locations nationwide).
  • Excellent retail corridor with national brands (Publix, CVS, Starbucks, etc.).
  • New 2024 construction, Slim Chickens prototype with dual drive-thru and monument signage.

Property Details for 135 Sapwood Dr

Property type
Retail properties, Retail space
Square Feet
3,065 SF
Year Built
2024
Lot Size (sq. ft)
59,242 SF

Location Insight

City
Myrtle Beach
County
Horry
State
South Carolina
Latitude
33.7535404
Longitude
-78.8710479
135 Sapwood Dr, Myrtle Beach, South Carolina

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135 Sapwood Dr
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