577 International Dr Myrtle Beach, SC 29579
- Retail properties
- 2,500 SF
- 1.25 lot acres
Current Use by Public Records
- Murphy USA / Gas Station / Convenience Store
Property Details for 577 International Dr
- Year built
- 2012
- Lot size
- 1.25 lot acres
- Property size
- 2,500 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a Murphy USA convenience store and gas station located at 577 International Dr, Myrtle Beach, SC 29579. The property boasts 2,500 square feet on a 1.25-acre lot, situated in a high-traffic area with strong demographics. The property benefits from a 20-year ground lease, originally commencing November 29, 2013, and expiring November 30, 2033, leaving a substantial 9 years remaining. The current annual net operating income (NOI) stands at $108,475, representing a compelling 5.42% cap rate. The lease includes scheduled rent increases of 8% every five years, providing built-in growth potential. This corporate-guaranteed, single-tenant property offers a secure investment with a strong tenant in a rapidly growing market. Myrtle Beach is experiencing significant population growth, with a 6.9% increase within a 5-mile radius from 2020-2024. The property enjoys high visibility and traffic counts exceeding 31,780 vehicles daily along Robert M. Grissom Pkwy, surrounded by major retailers such as Lowe's, McDonald's, Bojangles, Circle K, and Taco Bell. The affluent community boasts an average household income of $82,000 within a 3-mile radius, and over 67,500 individuals reside within a 5-mile radius. This is a rare opportunity to acquire a stable, high-performing retail asset in a prime location. The asking price is $2,000,000.
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
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.8581
- Latitude
- 33.7589
