10133 Kings HwyMyrtle Beach, SC 29572

Property Details for 10133 Kings Hwy

Year built

1978

Construction

CONCRETE

Lot size

1.31 AC

Property size (Sq ft)

6,046 SF

Zone code

HC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

390-10-02-0001

APU

39010020001

Description

This exceptional investment opportunity presents a thriving Hooters restaurant in Myrtle Beach, South Carolina. Located at 10133 N Kings Hwy, this 6,734 square foot establishment sits on a 1.61-acre lot, boasting a prime location across from a Walmart and adjacent to a new Chick-fil-A. The property is subject to a long-term, absolute triple-net (NNN) lease with approximately 13.1 years remaining, providing significant passive income potential. The lease, originally commencing in August 2014 and expiring December 31, 2037, includes three five-year renewal options, extending the potential lease term to over 28 years. The current annual net operating income (NOI) is $234,680, representing a 6.25% cap rate on the asking price of $3,754,880 ($557.60 per square foot). Rent increases are tied to the Consumer Price Index (CPI), ensuring consistent growth. The tenant, a corporate guarantor, has demonstrated strong commitment by exercising an early renewal option. Built in 1978 and renovated in 2014, this property offers a secure, high-performing investment with substantial long-term prospects in a high-traffic area. The property's strong performance is further evidenced by its ranking as the #1 Hooters in South Carolina according to Placer.ai. This is a rare opportunity to acquire a well-established, high-performing restaurant with a secure, long-term lease in a desirable location.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.7901

Longitude

-78.7681

CBSA code

34820

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].