10133 Kings Hwy Myrtle Beach, SC 29572-4021

Property Details for 10133 Kings Hwy

Year built

1978

Construction

CONCRETE

Lot size

1.31 lot acres

Property size

6,046 SF

Zone code

HC

Property type

Turn key restaurants

APN

390-10-02-0001

APU

39010020001

Description

This exceptional investment opportunity presents a thriving Hooters restaurant in Myrtle Beach, South Carolina. Located at 10133 N Kings Hwy, this 6,734 square foot establishment sits on a 1.61-acre lot, boasting a prime location across from a Walmart and adjacent to a new Chick-fil-A. The property is subject to a long-term, absolute triple-net (NNN) lease with approximately 13.1 years remaining, providing significant passive income potential. The lease, originally commencing in August 2014 and expiring December 31, 2037, includes three five-year renewal options, extending the potential lease term to over 28 years. The current annual net operating income (NOI) is $234,680, representing a 6.25% cap rate on the asking price of $3,754,880 ($557.60 per square foot). Rent increases are tied to the Consumer Price Index (CPI), ensuring consistent growth. The tenant, a corporate guarantor, has demonstrated strong commitment by exercising an early renewal option. Built in 1978 and renovated in 2014, this property offers a secure, high-performing investment with substantial long-term prospects in a high-traffic area. The property's strong performance is further evidenced by its ranking as the #1 Hooters in South Carolina according to Placer.ai. This is a rare opportunity to acquire a well-established, high-performing restaurant with a secure, long-term lease in a desirable location.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Longitude

-78.7681

Latitude

33.7901

CBSA code

34820

CBSA name

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments