140 Rittenhouse Rd Myrtle Beach, SC 29588
- Warehouses
- 3,500 SF
- 2.89 lot acres
Current Use by Public Records
- Warehouses
Property Details for 140 Rittenhouse Rd
- Lot size
- 2.89 lot acres
- Property size
- 3,500 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 3,500 square foot warehouse situated on a 2.89-acre lot in Myrtle Beach, South Carolina. Currently 100% occupied since July 23, 2019, by a single tenant under a net lease, generating a strong net operating income (NOI) of $48,000 annually, representing a 3.72% cap rate. The asking price is $1,290,000, translating to $368.57 per square foot and $150,000 per acre for the land. The property's strategic location in the thriving Socastee retail corridor, adjacent to a newly constructed 7-Eleven, offers significant upside potential. The existing tenant, currently on a month-to-month lease at $4,000 per month, is expressing interest in a long-term lease. This presents a compelling value-add opportunity for investors seeking immediate income and future land development prospects. The single-story building provides 3,500 square feet of functional warehouse space. This property is ideal for investors seeking a strong return on investment and the potential for future development in a high-growth area. The property's current income stream, combined with the substantial land value, makes this a rare find in the Myrtle Beach market. The address is 140 Rittenhouse Rd, Myrtle Beach, SC 29588.
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
- -78.9973
- Latitude
- 33.6816
