1647 Church StConway, SC 29526

Property Details for 1647 Church St

Year built

1997

Construction

CONCRETE

Lot size

0.45 AC

Property size (Sq ft)

4,424 SF

Property type

Turn key restaurants

APN

338-10-01-0014

APU

33810010014

Description

Exceptional investment opportunity featuring a thriving Applebee's restaurant located at 1647 Church Street, Conway, South Carolina. This ±4,424 square foot establishment sits on a ±1.08-acre corner lot, boasting a prime location near Coastal Center Shopping Plaza and surrounded by other national retailers. The property offers a strong net operating income (NOI) of $222,947.76, resulting in an attractive 7.80% capitalization rate. Currently operating under a triple-net (NNN) lease with Applebee's, the lease has a remaining term of approximately 2.8 years, extending to November 30, 2027. The current lease is in year 4 of a 7-year first option period. The asking price for this exceptional investment is $2,850,000. Built in 1997, this property presents a stable and lucrative investment opportunity with significant upside potential. The property's tax map number is 33810010014. This is a rare chance to acquire a well-established, high-performing restaurant in a desirable location. Don't miss this opportunity to add a strong, cash-flowing asset to your portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,347,570

  6.5%

  $1,243,911

  7%

  $1,155,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $996,667

  Geo Method

  $2,559,022

• Alternative Use

  Use

  Valuation

  Residential

  $1,049,285

  Hospitality

  $961,140

  Educational

  $799,657

  Medical

  $827,158

  Retail

  $1,243,911

Location Insight

City

Conway

County

Horry

State

South Carolina

Latitude

33.848

Longitude

-79.0683

CBSA code

34820

CBSA name

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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