4955 Us Hwy 17 Byp Myrtle Beach, SC 29577
- Office Properties & Spaces
- 7,880 SF
- 0.54 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 4955 Us Hwy 17 Byp
- Year built
- 1983
- Lot size
- 0.54 lot acres
- Property size
- 7,880 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a 7,880 square foot medical office building in Myrtle Beach, South Carolina, currently 67% occupied by two tenants: Coastal Wellness Center and Coastal Care. The property, located at 4955 US Highway 17 Bypass South, boasts a prime location in a thriving medical retail corridor near major amenities such as South Strand Medical Center, Publix, Starbucks, and more. Built in 1983 and renovated in 2016, the building sits on a 0.54-acre lot and features an absolute NNN lease structure with a corporate guarantee, eliminating landlord responsibilities. The current lease term is seven years with two five-year options, and includes a 2% annual rent increase. The asking price is $1,370,000, representing a price per square foot of $173.86 and an attractive 8.76% cap rate based on a current NOI of $120,000. The property offers a value-add opportunity to lease the remaining 2,626 square feet. Highway 17's high traffic volume (55,152 vehicles per day) and the area's 4.2% annual population growth further enhance the investment potential. This sale-leaseback transaction provides a secure, passive income stream with significant upside potential. The tenants are established providers of addiction care, demonstrating strong market presence and stability.
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
- -78.9661
- Latitude
- 33.6746
