RealtyLink Development

Coastal North Town Center - Phase 2B (In Contract)

1370-1386 Highway 17N
North Myrtle Beach, SC 29582

Property: Investment Sales

Square Footage: +/- 15,800

Acreage: +/- 3.066

Price: $7,800,000

Cap Rate: 6.25%

Description:

  • 100% leased to four creditworthy tenants each with firm 10 year terms
  • 10% rent bumps are built into all four tenant leases with multiple renewal options
  • New class A construction completed in the Spring of 2016
  • Positioned in the middle of 450,000 square feet of new class A retail and restaurant developments
  • Surrounding retail is anchored by Publix, Hobby Lobby, TJ Maxx, Ross, Dick’s, PetSmart, Burlington, HomeGoods
  • 37,300 cars travel in front of the Subject Property on Hwy 17 daily
  • 70,300 people live within a 20 minute drive of the Subject Property
  • $67,800 average household income within a 1 and 3 mile radius of the Subject Property
  • Myrtle Beach ranked as the second fastest growing metro area in 2016 and 2 017 according to the U.S. CensusBureau increasing nearly 4% each year to its current population of 447,800
  • Myrtle Beach, which attracts over 17 million visitors annually, is the center of the legendary 60 mile Grand Strand region of the SC coast