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 Office Space

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.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Longitude

-78.9661

Latitude

33.6746