1767 Hwy Mount Pleasant, SC 29464
- Retail properties
- 3,500 SF
- 0.42 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1767 Hwy
- Year built
- 2019
- Lot size
- 0.42 lot acres
- Property size
- 3,500 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 3,500 square foot Sleep Number storefront located at 1767 North Highway 17, Mount Pleasant, South Carolina, 29464. The property, built in 2019, sits on a 0.42-acre lot and boasts a 100% occupancy rate with a corporate-guaranteed, double net (NN) lease. The current lease, commencing June 29, 2019, and expiring June 30, 2029, has approximately 4.6 years remaining, with two 5-year renewal options, each including a 10% rent increase. The property generates a substantial net operating income (NOI) of $231,044, resulting in a 6.50% cap rate. The asking price is $3,555,000. This prime retail location benefits from high visibility on North Highway 17, experiencing over 51,000 vehicles per day. Its strategic placement across from Indigo Square and adjacent to Mount Pleasant's Town Center ensures significant foot traffic. The surrounding area features a strong demographic profile, with an average household income exceeding $154,447 and a population of 89,935 within a 5-mile radius. Nearby retailers include Publix GreenWise Market, Club Pilates, Corepower Yoga, and many other national brands. This investment offers a secure, high-performing asset with significant long-term potential in a thriving South Carolina market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mount Pleasant
- County
- Charleston
- State
- South Carolina
- Longitude
- -79.8366
- Latitude
- 32.8269
