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Popeyes 190 SC-544 2,350 SF Retail Building Conway, SC 29526 $4,095,000 ($1,742.55/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- NEW CONSTRUCTION ON OUTPARCEL TO RYAN HOMES DEVELOPMENT
- HIGHLY VISIBLE ON A RETAIL CORRIDOR
- ATTRACTIVE LEASE FUNDAMENTALS
EXECUTIVE SUMMARY
ATTRACTIVE LEASE FUNDAMENTALS
- New 20 year Abs. NNN
- 2% annual rental increases
- Zero Landlord Responsibilities
- 4 x 5 year extensions providing a long term investment
BRAND NAME TENANT
- Popeyes is the second largest “quick-service chicken restaurant group”
- Over 4,100+ locations in 40 states and 30 countries world wide
- In Q3 of 2023, Popeyes had 16.1% Sales Growth compared to Q3 in 2022
TOURIST DESTINATION
- Top Tourist Destination in the Country - The Grand Strand, which includes Myrtle Beach, hosts approximately 19 million tourists annually
- Myrtle Beach ranked third on most popular tourist destinations for Americans by Trip Advisor in 2021
- Home to 25 international companies, in the top 10 for Foreign Direct Investment
NEW CONSTRUCTION ON OUTPARCEL TO RYAN HOMES DEVELOPMENT
- Popeyes is constructing the new building to their newest prototype
- With the new construction comes a “digital-centric” format with kiosks, streamlined kitchens, digital pick up shelves, and much more
- Outparcel to Ryan Home’s Meadows Edge Townhomes, a 120 Townhome Community
HIGHLY VISIBLE ON A RETAIL CORRIDOR
- Fronting SC-544 (35.2K VPD)
- Over 213K SF of retail space located in a 1-mile radius boasting a 0% vacancy rate
- Nearby national tenants include: Food Lion, Walmart Supercenter, Publix, Kroger, Dollar General, and more
COASTAL CAROLINA UNIVERSITY
- Under 2-miles from the site is Coastal Carolina University which has more than 11K students and 922 staff members
- With the school growing every year the economic impact of Coastal Carolina exceeds $565 Million annually
- New 20 year Abs. NNN
- 2% annual rental increases
- Zero Landlord Responsibilities
- 4 x 5 year extensions providing a long term investment
BRAND NAME TENANT
- Popeyes is the second largest “quick-service chicken restaurant group”
- Over 4,100+ locations in 40 states and 30 countries world wide
- In Q3 of 2023, Popeyes had 16.1% Sales Growth compared to Q3 in 2022
TOURIST DESTINATION
- Top Tourist Destination in the Country - The Grand Strand, which includes Myrtle Beach, hosts approximately 19 million tourists annually
- Myrtle Beach ranked third on most popular tourist destinations for Americans by Trip Advisor in 2021
- Home to 25 international companies, in the top 10 for Foreign Direct Investment
NEW CONSTRUCTION ON OUTPARCEL TO RYAN HOMES DEVELOPMENT
- Popeyes is constructing the new building to their newest prototype
- With the new construction comes a “digital-centric” format with kiosks, streamlined kitchens, digital pick up shelves, and much more
- Outparcel to Ryan Home’s Meadows Edge Townhomes, a 120 Townhome Community
HIGHLY VISIBLE ON A RETAIL CORRIDOR
- Fronting SC-544 (35.2K VPD)
- Over 213K SF of retail space located in a 1-mile radius boasting a 0% vacancy rate
- Nearby national tenants include: Food Lion, Walmart Supercenter, Publix, Kroger, Dollar General, and more
COASTAL CAROLINA UNIVERSITY
- Under 2-miles from the site is Coastal Carolina University which has more than 11K students and 922 staff members
- With the school growing every year the economic impact of Coastal Carolina exceeds $565 Million annually
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,350 SF
Building Class
B
Year Built
2026
Construction Status
Proposed
Price
$4,095,000
Price Per SF
$1,742.55
Cap Rate
5.25%
NOI
$215,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.00 AC
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Popeyes
- Retailer
- 2,350 SF
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Popeyes | Retailer | 2,350 SF | - | Triple Net | - |
NEARBY MAJOR RETAILERS
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Popeyes | 190 SC-544
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