Viewing Listing MLS# 2404077
North Myrtle Beach, SC 29582
- CommercialZoning
- 3,440SqFt
- 2Units
- N/ASale/Rent
- N/AWet Lands
- 0.31Acres
- MLS# 2404077
- Commercial
- Office
- Active
- Approx Time on Market4 months, 17 days
- AreaNorth Myrtle Beach Area--Crescent Beach
- CountyHorry
- SubdivisionN/A
Overview
Dont miss this rare investment opportunity to own a 3440 ft.; office building for sale in the highly sought after North Myrtle Beach area offered at an 8.75% CAP rate. CAP rate is based on the previous years operating expenses and the option to pass through expenses to tenants in the future. This two-tenant office building is fully leased, 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. Suite A rents are well under market value and has potential for increase. The building was finished in 2017 with hurricane impact windows and is completely updated with modern finishes and has been meticulously maintained. Suite A consists of 1,920 SF open floor plan with kitchen, restrooms, and storage; Suite B is a 1,520 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. The building is located on a 0.31-acre corner lot with close proximity to HWY 17 and features 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! Leases and financials available upon signing of CA. Highlights : 8.75% 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
Agriculture / Farm
Grazing Permits Blm: ,No,
Horse: No
Grazing Permits Forest Service: ,No,
Grazing Permits Private: ,No,
Irrigation Water Rights: ,No,
Farm Credit Service Incl: ,No,
Crops Included: ,No,
Association Fees / Info
Hoa: No
Assoc Amenities: Storage
Bathroom Info
Building Info
New Construction: No
Num Stories: 1
Levels: One
Mobile Home Remains: ,No,
Zoning: Commercial
Building Features: HandicapAccess, KitchenFacilities, Office, PrivateRestrooms, ReceptionArea
Construction Materials: VinylSiding, WoodFrame
Buyer Compensation
Exterior Features
Spa: No
Financial
Lease Renewal Option: ,No,
Garage / Parking
Parking Capacity: 12
Garage: No
Carport: No
Open Parking: No
Attached Garage: No
Interior Features
Fireplace: No
Interior Features: HandicapAccess, Storage
Lot Info
Lease Considered: ,No,
Lease Assignable: ,No,
Acres: 0.31
Land Lease: No
Misc
Pool Private: No
Offer Compensation
Property Info
County: Horry
Current Use: Office
View: No
Number of Units Total: 2
Senior Community: No
Stipulation of Sale: None
Habitable Residence: ,No,
Property Sub Type Additional: Office
Property Attached: No
Security Features: SecuritySystem, Firewalls
Rent Control: No
Number of Buildings: 1
Room Info
Basement: ,No,
Sold Info
Sqft Info
Sqft: 3440
Tax Info
Tax Amount Annual: 2263
Unit Info
Utilities / Hvac
Heating: Central
Cooling: CentralAir
Electric On Property: No
Cooling: Yes
Sewer: PublicSewer
Heating: Yes
Waterfront / Water
Waterfront: No
Directions
Located just off of HWY 17 in NMB on 12th Ave S.; corner of Madison Drive.Courtesy of Tideland Commercial
MLS# 2415352 
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