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Popeyes 2527 Hwy 9 E 2,350 SF Retail Building Little River, SC 29566 $4,095,000 ($1,742.55/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- HIGHLY VISIBLE ON MAIN COMMUTER & RETAIL THOROUGHFARE
- ATTRACTIVE LEASE FUNDAMENTALS
- NEW RESIDENTIAL COMMUNITIES
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
HIGHLY VISIBLE ON MAIN COMMUTER & RETAIL THOROUGHFARE
- Site is fronting major commuter highway to the Myrtle Beach coast
- Over 30K cars travel the highway per day
- Over 266K SF of retail is located in a 1-mile radius, boasting a 0% vacancy rate
NEW CONSTRUCTION
- 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
NEW RESIDENTIAL COMMUNITES
- Across the street from the site is the new residential development Beazer Homes at Sunset Landing
- With 194 homes recently built in this community starting at $300,000
- Under a half mile from the site is another new residential development, Bridgewater Community
- This community has over 1,500 houses which are spread across 950 acres with a resort style
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 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
HIGHLY VISIBLE ON MAIN COMMUTER & RETAIL THOROUGHFARE
- Site is fronting major commuter highway to the Myrtle Beach coast
- Over 30K cars travel the highway per day
- Over 266K SF of retail is located in a 1-mile radius, boasting a 0% vacancy rate
NEW CONSTRUCTION
- 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
NEW RESIDENTIAL COMMUNITES
- Across the street from the site is the new residential development Beazer Homes at Sunset Landing
- With 194 homes recently built in this community starting at $300,000
- Under a half mile from the site is another new residential development, Bridgewater Community
- This community has over 1,500 houses which are spread across 950 acres with a resort style
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
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bar
Building Size
2,350 SF
Building Class
B
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
0.09
Lot Size
0.57 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
PROPERTY TAXES
| Parcel Number | 31404010001 | Improvements Assessment | $0 |
| Land Assessment | $86,562 | Total Assessment | $86,562 |
PROPERTY TAXES
Parcel Number
31404010001
Land Assessment
$86,562
Improvements Assessment
$0
Total Assessment
$86,562
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Popeyes | 2527 Hwy 9 E
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