1275 21St AveMyrtle Beach, SC 29577

Property Details for 1275 21St Ave

Year built

1994

Construction

CONCRETE BLOCKS

Lot size

1.86 AC

Property size (Sq ft)

12,448 SF

Zone code

PUD

Property type

Medical offices

Property subtype

Medical centers

APN

425-05-03-0013

APU

42505030013

Description

This exceptional investment opportunity presents a 12,448 square foot medical office building in Myrtle Beach, South Carolina. The property is situated on a 1.86-acre lot at 1275 21st Avenue North, enjoying high visibility with over 20,000 vehicles passing daily. The building is 100% occupied by Carolina Coastal Plastic Surgery, a well-established tenant operating since 1994, under an absolute triple-net (NNN) lease with 7.1 years remaining. The tenant recently invested over $250,000 in capital improvements and recently extended their lease, demonstrating a strong commitment to the location. The lease features 3% annual rent bumps and two five-year renewal options, extending the lease to December 31, 2031. This prime location is adjacent to Broadway at the Beach, a major tourist attraction drawing over 14 million visitors annually, and is minutes from the beach, Myrtle Beach Boardwalk, Convention Center, and Pelicans Ballpark. The property benefits from strong co-tenancy with national retailers including Lowe's, T.J. Maxx, Target, Sam's Club, Chick-fil-A, Sonic, Bojangles, Wendy's, and Topgolf. The tenant, Carolina Coastal Plastic Surgery Center, is a certified ambulatory surgery center specializing in plastic surgery, led by a highly regarded surgeon. This presents a secure, passive income investment with significant upside potential in a thriving coastal market. The property's strategic location and long-term lease make it an attractive opportunity for discerning investors seeking a stable, high-performing asset.

• CAP approach

  CAP return

  Valuation

  6%

  $2,186,653

  6.5%

  $2,018,449

  7%

  $1,874,274

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,306,859

  Geo Method

  $2,857,314

• Alternative Use

  Use

  Valuation

  Residential

  $2,502,876

  Hospitality

  $2,292,621

  Educational

  $1,907,434

  Medical

  $1,973,034

  Retail

  $2,967,120

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.7124

Longitude

-78.8856

CBSA code

34820

CBSA name

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

Property Tax & Assessments

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