11359 Ocean HwyPawleys Island, SC 29585
- Retail properties
- 4,319 SF
Property Details for 11359 Ocean Hwy
- Year built
- 1999
- Lot size
- 1.00 AC
- Property size (Sq ft)
- 4,319 SF
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 04-0153-001-01-14
- APU
- 401530010114
Description
This exceptional 4,075-square-foot restaurant and retail building, situated on approximately one acre in Pawleys Island, South Carolina, presents a compelling investment opportunity. Built in 1999, this Class C property boasts a 100% occupancy rate with a national franchisee tenant under a NNN lease. The building features a state-of-the-art kitchen, a drive-thru, and an additional 2,000 square feet of patio space. Strategically located on Highway 17, between Sonic and the former BB&T Bank (now Truist), this property enjoys high visibility and proximity to other established businesses like Chico's, Best Western, and The Fresh Market. The property's address is 11359 Ocean Hwy, Pawleys Island, SC 29585, and is zoned for general commercial use. Access is convenient from Highway 17, as well as Hinnant Street, with connections to Tiller Drive, Commerce Drive, and Library Lane. The asking price is $2,400,000, translating to $588.96 per square foot. The property includes the building, land, and signage. This sale is a sale/leaseback opportunity, suitable for 1031 exchange investors. The property's Tax Map/Parcel Number is TMS/PIN# 04-0153-001-01-14. This is a single-tenant building with a franchisee tenant.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,115,201
- 6.5%
- $1,029,416
- 7%
- $955,887
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,142,695
- Geo Method
- $1,843,076
-
Alternative Use
- Use
- Valuation
- Residential
- $868,351
- Hospitality
- $795,405
- Educational
- $661,768
- Medical
- $684,527
- Retail
- $1,029,416
Location Insight
- City
- Pawleys Island
- County
- Georgetown
- State
- South Carolina
- Latitude
- 33.4486
- Longitude
- -79.1209
- CBSA code
- 23860
- CBSA name
- GEORGETOWN, SC MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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