1624 Church St Conway, SC 29526
- Retail properties
- 3,270 SF
- 1.16 lot acres
Current Use by Public Records
- KFC / Chicken Restaurant / Fast Food Restaurant
Property Details for 1624 Church St
- Year built
- 2017
- Lot size
- 1.16 lot acres
- Property size
- 3,270 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a 3,270 square foot KFC restaurant located at 1624 Church St, Conway, SC 29526. The property sits on a 1.156-acre lot in a high-traffic retail corridor with excellent visibility on E Hwy 501, boasting daily traffic counts of 26,106 vehicles. The building, constructed in 2017, is a single-story structure with a permitted C zoning classification. This is an absolute NNN net lease with the tenant, FQSR, LLC (the largest KFC franchisee in the U.S.), holding a 20-year lease expiring July 31, 2044, including two 5-year renewal options. Rent increases by 7% every 5 years. The property enjoys 100% occupancy and generates a substantial net operating income (NOI) of $176,000, resulting in a compelling 6.15% cap rate. The location benefits from a strong demographic profile, including a high average household income within a one-mile radius of $80,299. Nearby amenities include major retailers such as Walmart, Lowe's, and Belk, as well as educational institutions like Coastal Carolina University and Horry Georgetown Technical College, and Conway Medical Center. The property's proximity to Tanger Outlets Myrtle Beach further enhances its appeal and potential for continued strong performance. This is a rare opportunity to acquire a well-established, high-performing KFC location with a long-term lease and significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Conway
- County
- Horry
- State
- South Carolina
- Longitude
- -79.066
- Latitude
- 33.8477
