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

$799,999
3,440
SqFt
List Price
$799,999
Status
ACTIVE
MLS#
2404077
Days on Market
64
Property Type
Office
Total Heated SqFt
3440
Lot Size
13,503
Region
11c North Myrtle Beach Area--Crescent Beach

Property 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

Additional Information

Exterior Finish
Vinyl Siding, Wood Frame
Interior Features
Storage
Levels
One
Possession
Closing
County
Horry
Parking Spaces
12
Acres
0.31
Amenities
Storage
Heating
Central
Zoning
Commercial
Listing Courtesy Of
Tideland Commercial

Listing courtesy of Listing Agent: Sheena Rote () from Listing Office: Tideland Commercial.

Provided courtesy of The Coastal Carolinas Association of REALTORS®. Information Deemed Reliable but Not Guaranteed. Copyright 2024 of the Coastal Carolinas Association of REALTORS® MLS. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Contact:

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks