$232.56 Per Sq Foot $4,295 est/mo Sourced by Back At You

801 12th Ave. S,North Myrtle Beach, SC 29582

North Myrtle Beach SC, 29582

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Description

Don’t miss this rare investment opportunity to own a 3,440 ft.²; office building for sale in the highly sought after North Myrtle Beach area offered at a potential 8% CAP rate based on rental increases and passthrough expenses. This two-tenant office building is fully leased with 3% rental escalations per year on Suite B. Suite A is a value-add short term lease that can be converted to a long-term lease or terminated for a potential owner/ user. The building was finished in 2017 with hurricane impact windows, is completely updated with modern finishes and has been meticulously maintained. Suite A consists of 1,920 rentable SF open floor plan with kitchen, restrooms, and storage; Suite B is a 1,520 rentable SF office that offers an ideal floorplan with a reception area, boardroom, 4 offices, large storage area, kitchenette/breakroom and restroom complete with a walk-in shower as well as a washer/dryer hookup. Each suite is individually metered with its own HVAC unit. The building is located on a 0.31-acre corner lot with close proximity to HWY 17, featuring 12 parking spaces. Don't miss your opportunity to own this rare investment property with convenient access to all major thoroughfares. This property is a must see! Highlights : 8% POTENTIAL CAP RATE 3% RENTAL ESCALATIONS PER YEAR NNN LEASE; LOW OPERATING EXPENSES 3,440 TOTAL SF; OFFICE A 1,920 RSF; OFFICE B 1,520 RSF VALUE-ADD, SUITE A UNDER MARKET RENT/ PASSTHROUGH EXPENSES PRIME LOCATION OFF OF HWY 17 IN NORTH MYRTLE BEACH

Details

MLS#2404077
Listing TypeFor Sale
StyleOffice Building
Sub-TypeResale
StatusActive
Days On Site65
Listing Provided ByTideland Commercial | Sheena Rote

Features

SQ Feet3,440
Story(s)1
Units2
Building(s)1
ZoningCommercial
Acreage0.31

Market Activity 29582

Provided courtesy of the Coastal Carolinas MLS. Copyright 2022 of the Coastal Carolinas MLS. All rights reserved. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Coastal Carolinas MLS.

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Learn More About This Property

StateSC
CountyHorry
CityNorth Myrtle Beach
Zip Code29582
Area11C North Myrtle Beach Area Crescent Beach
Listing VS Median (in 29582)
Price:
$799,999
low | high
Med:
$377,000
100% of Average
SqFt:
3,440
low | high
Med:
1,238
100% of Average
$ / SqFt:
$233
low | high
Med:
$305
19.054763620555% of Average
On Site:
65
low | high
Med:
321.000000
20.249221183801% of Average
Sourced by Back At You
Listing Updated: February 29, 2024 at 4:13:32 PM PST
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