11359 Ocean HwyPawleys Island, SC 29585

  • Retail properties
  • 4,319 SF
For Sale
$2,400,000 View listing

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
11359 Ocean Hwy, Pawleys Island, South Carolina

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,784
$24,000
$19,840
$43,840
-
$400,000
$330,700
$730,700

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