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Freddy's 2885 US-501 2,610 SF Retail Building Conway, SC 29526 $4,095,000 ($1,568.97/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- FAST GROWING BRAND
- ATTRACTIVE LEASE FUNDAMENTALS
- NEW IMMEDIATE DEVELOPMENT
EXECUTIVE SUMMARY
ATTRACTIVE LEASE FUNDAMENTALS
- New 20 year Abs. NNN
- 2% Annual Increases
- Zero Landlord Responsibilities
- 4 x 5 year extensions providing a long term investment
FAST GROWING BRAND
- Freddy’s currently has over 550 locations across 36 states
- The company goal is to reach 800 restaurants by 2026 with 130 locations in development for the next two years
- Freddy’s 2024 AUV is 2.6M
COASTAL CAROLINA UNIVERSITY
- 2.5 Miles from the site is Coastal Carolina University which has more than 11K students
- With the school growing every year the economic impact of Coastal Carolina exceeds $565 Million annually
NEW STATE OF THE ART BUILDING
- Building is being built to suit Freddy’s concept
- Warranties will be assigned to new owner
NEW IMMEDIATE DEVELOPMENT
- The site has proposed surrounding development of over 500K SF of retail with more than 1,600 multi-family homes being added
- Proposed plans nearby include a Supercenter and further residential development, establishing a new trade area
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 Increases
- Zero Landlord Responsibilities
- 4 x 5 year extensions providing a long term investment
FAST GROWING BRAND
- Freddy’s currently has over 550 locations across 36 states
- The company goal is to reach 800 restaurants by 2026 with 130 locations in development for the next two years
- Freddy’s 2024 AUV is 2.6M
COASTAL CAROLINA UNIVERSITY
- 2.5 Miles from the site is Coastal Carolina University which has more than 11K students
- With the school growing every year the economic impact of Coastal Carolina exceeds $565 Million annually
NEW STATE OF THE ART BUILDING
- Building is being built to suit Freddy’s concept
- Warranties will be assigned to new owner
NEW IMMEDIATE DEVELOPMENT
- The site has proposed surrounding development of over 500K SF of retail with more than 1,600 multi-family homes being added
- Proposed plans nearby include a Supercenter and further residential development, establishing a new trade area
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
Building Size
2,610 SF
Building Class
B
Year Built
2026
Construction Status
Under Construction
Price
$4,095,000
Price Per SF
$1,568.97
Cap Rate
5.25%
NOI
$215,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.79 AC
Frontage
403’ on U.S. 501
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Freddy's
- Retailer
- 2,610 SF
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Freddy's | Retailer | 2,610 SF | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 38300000377 | Improvements Assessment | $0 |
| Land Assessment | $626,094 | Total Assessment | $626,094 |
PROPERTY TAXES
Parcel Number
38300000377
Land Assessment
$626,094
Improvements Assessment
$0
Total Assessment
$626,094
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Freddy's | 2885 US-501
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