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400 N Main St 7,628 SF Retail Building Hemingway, SC 29554 $1,210,000 ($158.63/SF) 6.65% Cap Rate
Investment Highlights
- Advance Auto store with long term commitment to the area
- Corporate Guaranty by Advance Stores Company, Inc.
- Rent increases 10% every 5 years in Option Periods
Executive Summary
The lease structure is a NN format, placing roof and structural responsibilities with the landlord, while rent is set at $80,500 annually with 10% escalations every five years during option periods. The lease runs through March 31, 2033, offering approximately seven years of guaranteed initial term and long-term upside via options.
Located 50 miles from Myrtle Beach and near regional growth corridors, the property benefits from steady traffic counts of 8,300 VPD and proximity to existing retail operators including Dollar General, CVS, and Subway. With a purchase price of $1,210,000 and a 6.65% cap rate, this asset is well-suited for 1031 exchange buyers and investors seeking credit-backed, income-producing retail in a growth market.
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Advance Auto Parts began in 1932 when Arthur Taubman acquired Advance Stores in Virginia, and the business later developed into a publicly traded automotive aftermarket retailer. The company serves professional installers and do-it-yourself customers through retail stores, online shopping, and customer support services, with offerings that include replacement parts, accessories, batteries, and maintenance items. Advance Auto Parts also operates the Carquest brand and maintains a broad North American presence that includes the United States, Canada, Puerto Rico, and the U.S. Virgin Islands.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Property Taxes
| Parcel Number | 08-015-115 | Improvements Assessment | $21,790 |
| Land Assessment | $1,060 | Total Assessment | $22,850 |
Property Taxes
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400 N Main St
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