Starbucks 1301 N Kings Hwy 1,136 SF Retail Building Myrtle Beach, SC 29577 $2,778,000 ($2,445.42/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- The tenant is responsible for all Taxes, CAM, and insurance, providing minimal landlord ownership responsibilities.
- Site sits across Kings Hwy from the Myrtle Beach Sky Wheel, being the number 1 tourist attraction along the Boardwalk.
- The lease calls for rental increases of 10% every five years including the option periods.
EXECUTIVE SUMMARY
Starbucks signed a new 10-year lease with no kick-out clause.
This property is ideally situated just three miles from US-17, which boasts over 30,000 vehicles per day (VPD). Additionally, it offers direct access off N Kings Highway, which sees over 28,800 VPD and serves as the primary highway through Myrtle Beach.
Myrtle Beach is located on the eastern coast of South Carolina and has an affluent customer base, with an average household income of $94,106 within 1 mile of the site. It is also a tourism hub, hosting nearly 17 million visitors per year.
This property is ideally situated just three miles from US-17, which boasts over 30,000 vehicles per day (VPD). Additionally, it offers direct access off N Kings Highway, which sees over 28,800 VPD and serves as the primary highway through Myrtle Beach.
Myrtle Beach is located on the eastern coast of South Carolina and has an affluent customer base, with an average household income of $94,106 within 1 mile of the site. It is also a tourism hub, hosting nearly 17 million visitors per year.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,136 SF
Building Class
B
Year Built
2024
Price
$2,778,000
Price Per SF
$2,445.42
Cap Rate
6%
NOI
$166,680
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.70 AC
Opportunity Zone
Yes
Zoning
HC-2 - Highway Commercial District
Parking
18 Spaces
Frontage
91’ on North Kings Highway
AMENITIES
- Drive Thru
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 42416030013 | Improvements Assessment | $540 |
| Land Assessment | $30,001 | Total Assessment | $30,541 |
