For Sale
$779,900

211 Prather Park DrMyrtle Beach, SC 29588

High-yield, fully leased office complex.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a fully leased, three-unit office building totaling 3,600 square feet situated on a 0.43-acre lot in Myrtle Beach, South Carolina. Currently boasting 100% occupancy with three separate tenants under three-year leases commencing August 20, 2024, this stabilized investment offers a compelling 9.10% cap rate and a strong NOI of $71,000. The property features a convenient layout including a shared lobby and reception area, 14 individual offices, three kitchens, three bathrooms, and ample storage space. Modern amenities such as a sprinkler system, security cameras, and an alarm system are in place. The building benefits from its prime location, offering easy access to major roadways including Highway 544, Highway 707, and Highway 31, and is poised to benefit from the upcoming Forestbrook Road widening project. With 15 parking spaces available, this turnkey investment is ideal for a passive income strategy. The property is zoned commercial and consists of one single-story building. Detailed floor plans are available upon request. This represents a significant value-add opportunity within a rapidly growing area experiencing a substantial population and housing boom.

Highlights

  • Fully leased, three-unit office building totaling 3,600 square feet on a 0.43-acre lot in Myrtle Beach, SC.
  • 100% occupancy with three tenants on three-year leases starting August 20, 2024, offering a 9.10% cap rate and $71,000 NOI.
  • Features include a shared lobby, 14 offices, three kitchens, three bathrooms, ample storage, sprinkler system, security cameras, and alarm system.
  • Prime location with easy highway access (544, 707, 31) and benefits from the upcoming Forestbrook Road widening project; 15 parking spaces.
  • Single-story building, commercially zoned, represents a value-add opportunity in a rapidly growing area experiencing a population and housing boom.

Property Details for 211 Prather Park Dr

Property type
Office properties
Square Feet
3,600 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
18,731 SF
Units
3

Location Insight

City
Myrtle Beach
County
Horry
State
South Carolina
Latitude
33.691683
Longitude
-79.005985
211 Prather Park Dr, Myrtle Beach, South Carolina

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211 Prather Park Dr
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