4995 Socastee BlvdMyrtle Beach, SC 29588

Property Details for 4995 Socastee Blvd

Year built

2024

Lot size

2.17 AC

Property size (Sq ft)

4,650 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 4,650-square-foot 7-Eleven convenience store and gas station in Myrtle Beach, South Carolina. Built in 2024, this property sits on a 2.165-acre lot and boasts 16 gas pumps. The property benefits from a 15-year absolute NNN lease with a corporate guarantee from 7-Eleven, featuring four 5-year renewal options. Rent increases of 10% every five years are built into the lease, providing a hedge against inflation. The property enjoys a prime location near Myrtle Beach International Airport, Socastee High School, and a dense retail corridor including Taco Bell, Little Caesars, Walgreens, Dunkin', and Burger King. The high-traffic intersection boasts 27,500 and 16,900 vehicles per day on Socastee Blvd and Dick Pond Rd, respectively. Strong demographics, with a 3-mile population exceeding 41,000 and an average household income of $82,480, further enhance the investment potential. The current NOI is $477,456, resulting in a 5.15% cap rate, and the asking price is $9,270,990. This is a management-free investment with zero landlord responsibilities, making it ideal for passive investors. The property's location and strong tenant contribute to a secure and profitable investment.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.6827

Longitude

-78.9988

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