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For sale
Restaurants
SC
Conway
29526
1650 Church St. Unit 1652 Chu

Retail-Restaurant Duplex with Drive-Thrus

1650 Church St. Unit 1652 Chu Conway, SC 29526

1650 Church St. Unit 1652 Chu, Conway, SC, 29526

$5,300,000

For Sale

$5,300,000

12,135 SF retail-restaurant duplex with drive-thrus in Conway, SC.

Property Size12,135 SF

Price / SF$436.75

AddedOct 9, 2023

Days on Market1011

Last RefreshMay 13 at 8:31 pm

Property Features for 1650 Church St. Unit 1652 Chu

General Information

Standard status: Active
Size: 12,135 SF
Property subtype: Retail

Listing office Tradd Commercial

Listing date Oct 9, 2023

Source Xome

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Tradd Commercial

Investment Insights

Based on property information with market context.

Celebration Square is a 12,135 square foot retail-restaurant duplex constructed in 2021. Located at the signalized corner of Church Street/Highway 501 and Mill Pond Road in Conway, the property is divided into two restaurant units: one occupied by McAlister’s Deli, which signed a 15-year lease in 2021, and a 350-seat former steakhouse. Each unit includes a drive-thru, offering concept flexibility. The property features triple-lane ingress/egress from Church Street/501 and double-lane ingress/egress on Mill Pond Road, facilitating ease of access at this high-traffic intersection. The location is at the corner of Church Street/Highway 501, a major traffic artery of the Grand Strand, and Mill Pond Road, a secondary thoroughfare serving as an interior beltway around Conway’s Central Business District. This submarket has experienced stability as the hub of county government services, industry, and higher education in Horry County. Conway has experienced an annual growth rate of 5.96% and has grown 22.9% since the 2020 census. Master-planned developments located off Highways 701 & 378, with connectivity via Mill Pond Road, are planned to add over 3,200 units to Conway by 2030. FF&E may be acquired separately.

Key Highlights

Located at a high‑traffic, signalized corner of Church Street/Highway 501 and Mill Pond Road.
Property is a 12,135 square foot retail‑restaurant duplex built in 2021.
One unit is leased to McAlister's Deli with a 15‑year lease.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$273.8k	$22.56
− Vacancy	−$6.8k	−$0.56
EGI	$266.9k	$22.00
− OpEx	−$66.7k	−$5.50
NOI	$200.2k	$16.50

12,135 SF · lease $22.56/SF/yr · vacancy 2.50% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$2.86M

$2.50M – $3.34M (±1% cap)

NOI $200,191 @ 7.0% cap · market cap 3.78%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.08M

$2.69M – $3.59M (±1% cap)

NOI $215,285 @ 7.0% cap · market cap 4.06%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Drive through restaurants

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For sale
Restaurants
SC
Conway
29526
1650 Church St. Unit 1652 Chu

What type of property is this?

Restaurant - 12,135 SF retail-restaurant duplex with drive-thrus in Conway, SC.

Where is this restaurant located?

The property is located at 1650 Church St. Unit 1652 Chu Conway, SC.

What is the asking price?

The asking price for this property is $5,300,000.

What are key features of this property?

This property features: Located at a high‑traffic, signalized corner of Church Street/Highway 501 and Mill Pond Road.; Property is a 12,135 square foot retail‑restaurant duplex built in 2021.; One unit is leased to McAlister's Deli with a 15‑year lease.