4806 Highway 17Myrtle Beach, SC 29575

Property Details for 4806 Highway 17

Year built

2023

Lot size

0.59 AC

Property size (Sq ft)

1,438 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 1,438 square foot Take 5 Oil Change, located at 4806 Hwy 17 in Myrtle Beach, South Carolina. Built in 2023, this Class A property sits on a 0.59-acre lot and boasts a 15-year absolute NNN lease with a highly creditworthy franchisee tenant. The lease includes three five-year renewal options, with a 10% rent increase every five years, ensuring consistent income growth. The property generates a strong net operating income (NOI) of $121,560, resulting in an attractive 6.40% cap rate. Strategically positioned on a hard corner with high visibility at the intersection of Hwy 17 and Palmetto Pointe Blvd (approximately 84,000 vehicles per day), this location benefits from exceptional traffic counts and proximity to over 639,000 square feet of retail space within a one-mile radius, exhibiting a low 1.4% vacancy rate. Hwy 17 itself sees over 75,000 vehicles per day, providing easy access for customers. The surrounding area is experiencing significant growth, with over 9,500 residents within a one-mile radius and a projected annual growth rate of 4.4% over the next five years. Myrtle Beach's rapid expansion, recognized as one of the fastest-growing cities in the US for three consecutive years, further enhances the long-term value of this investment. The asking price is $1,899,000. This is a turnkey investment with zero landlord responsibilities.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.6785

Longitude

-78.9661

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