Current Use by Public Records
- Retail properties & Spaces
Property Details for 1385 Us-501
- Year built
- 2024
- Lot size
- 3.31 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, state-of-the-art, 4,829-square-foot convenience store and gas station in Conway, South Carolina. Located at 1385 US-501, this property boasts a prime location, just a 30-minute drive from Myrtle Beach, ensuring high traffic and visibility. The property sits on a 3.31-acre lot and includes 33 parking spaces and 19 gas pumps. Currently 100% occupied under a 20-year absolute NNN lease with a strong, rapidly expanding tenant, this Class A retail property offers significant long-term value. The lease commenced July 1st, 2024, and includes annual rent bumps of 2.00%. The Net Operating Income (NOI) is $483,570. The asking price is $7,737,120. The lease structure provides significant investor protection with a 20-year initial term and five 5-year renewal options. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a thriving market. The building was constructed in 2024. This investment offers a compelling combination of strong tenant performance, a secure lease structure, and a desirable location in a high-growth area.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Conway
- County
- Horry
- State
- South Carolina
- Longitude
- -79.0182
- Latitude
- 33.8081
