For Sale
$135,500

1508 Azalea DrSurfside Beach, SC 29575

1,020 SF Office Condo, 6% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 1,020-square-foot executive office condo in Surfside Beach, South Carolina, presents a compelling investment opportunity. Located at 1508 Azalea Dr, Myrtle Beach, SC 29575, this Class B property boasts a strong 6.00% cap rate and is currently 100% occupied by a corporate tenant under a triple-net (NNN) lease. The lease commenced November 1, 2023, and extends for a three-year term, expiring November 1, 2026, leaving approximately 1.9 years remaining. The asking price is $135,500, translating to $132.84 per square foot. Recently renovated, the single-story unit features new flooring, paint, energy-efficient windows, and LED lighting. The well-designed layout includes a reception area and office, three additional offices (one suitable as a conference room), a shared workspace, a half-bath, and a kitchenette. Shared front and rear entries are convenient, and ample parking is available. The building benefits from a recently replaced roof (approximately 5 years ago) and windows (also approximately 5 years ago). This turnkey investment is situated within a popular Surfside business park, offering immediate income and long-term potential. The Horry County location and convenient address make this a highly desirable property. The APN is 45910030140.

Highlights

  • $135,500 asking price for this 1,020 sq ft Executive Office Condo.
  • Located at 1508 Azalea Dr, Myrtle Beach, SC 29575.
  • Class B, 1-story building with a 6% cap rate.
  • NNN lease, single tenant occupancy at 100%, with a 3-year lease commencing November 1, 2023, and expiring November 1, 2026.
  • Recently renovated with new flooring, paint, energy-efficient windows, and LED lighting.

Property Details for 1508 Azalea Dr

Property type
Office properties
Square Feet
1,020 SF
Class
B
Stories
1

Location Insight

City
Surfside Beach
County
Horry
State
South Carolina
Latitude
33.624941
Longitude
-78.971082
1508 Azalea Dr, Surfside Beach, South Carolina

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1508 Azalea Dr
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