11359 Ocean HwyPawleys Island, SC 29585

Property Details for 11359 Ocean Hwy

Year built

1999

Lot size

1.00 AC

Property size (Sq ft)

4,319 SF

Property type

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.

• 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

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