Properties

Denny's, Myrtle Beach, SC

124 Loyola Drive
Myrtle Beach, SC 29588

PROPERTY SOLD

Property: Investment Sales

Square Footage: 4,650

Acreage: 1.05

Price: $2,300,000

Cap Rate: Call

Description:

• Located less than 5 miles from the SC coast on a major highway corridor
• Neighboring tenants include Wal-Mart, Lowe’s, Kohl’s and Office Depot
• Property consists of a 4,650 restaurant on 1.05 acres with 74 parks
• Denny’s franchisee executed a 20 year lease that commenced in 2009
• Transaction closed escrow in June 2012 for approximately $2.30 million
• Buyer was a publically traded REIT completing a 1031 portfolio exchange