4995 Socastee Blvd Myrtle Beach, SC 29588
- Retail properties
- 4,650 SF
- 2.17 lot acres
Current Use by Public Records
- Retail properties
Property Details for 4995 Socastee Blvd
- Year built
- 2024
- Lot size
- 2.17 lot acres
- Property size
- 4,650 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 4,650-square-foot 7-Eleven convenience store and gas station in Myrtle Beach, South Carolina. Built in 2024, this property sits on a 2.165-acre lot and boasts 16 gas pumps. The property benefits from a 15-year absolute NNN lease with a corporate guarantee from 7-Eleven, featuring four 5-year renewal options. Rent increases of 10% every five years are built into the lease, providing a hedge against inflation. The property enjoys a prime location near Myrtle Beach International Airport, Socastee High School, and a dense retail corridor including Taco Bell, Little Caesars, Walgreens, Dunkin', and Burger King. The high-traffic intersection boasts 27,500 and 16,900 vehicles per day on Socastee Blvd and Dick Pond Rd, respectively. Strong demographics, with a 3-mile population exceeding 41,000 and an average household income of $82,480, further enhance the investment potential. The current NOI is $477,456, resulting in a 5.15% cap rate, and the asking price is $9,270,990. This is a management-free investment with zero landlord responsibilities, making it ideal for passive investors. The property's location and strong tenant contribute to a secure and profitable investment.
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
- -78.9988
- Latitude
- 33.6827
