135 Sapwood Dr Myrtle Beach, SC 29579

Property Details for 135 Sapwood Dr

Year built

2024

Lot size

1.36 lot acres

Property size

3,065 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 3,065 square foot Slim Chickens restaurant in Myrtle Beach, South Carolina. Located on a 1.36-acre lot at 135 Sapwood Dr, 29579, this property boasts a 15-year absolute NNN lease commencing October 21, 2024, and expiring October 31, 2039. The lease includes scheduled rent bumps, ensuring consistent income growth. The property generates a strong net operating income (NOI) of $238,500, resulting in a 6.50% cap rate. This prime outparcel location is situated adjacent to a Publix supermarket within the Marketplace at the Mill, benefiting from high visibility on Carolina Forest Boulevard, a major thoroughfare with approximately 29,000-35,000 vehicles passing daily. The surrounding area is densely populated, with over 8,500 homes in nearby communities like Carolina Forest and Berkshire Forest, and is also near River Oaks Elementary and Carolina Forest High School, ensuring consistent customer traffic. Slim Chickens, a rapidly expanding fast-casual brand with over 200 locations nationwide, occupies the building, constructed in 2024 to its latest prototype, featuring a dual-lane drive-thru for enhanced efficiency and prominent monument signage. The property's location within a thriving retail corridor alongside national retailers like Publix, CVS, Lowe's Foods, and McDonald's further enhances its appeal and investment potential. This is an ideal opportunity for a passive investor seeking a secure, long-term, high-return investment. The asking price is $3,670,000. This offering is suitable for a 1031 exchange.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Longitude

-78.871

Latitude

33.7535