577 International DrMyrtle Beach, SC 29579

Property Details for 577 International Dr

Year built

2012

Lot size

1.25 AC

Property size (Sq ft)

2,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.7589

Longitude

-78.8581

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