ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Starbucks & Mattress Firm – Murrells Inlet, SC – NN Lease

12182 Old Kings Highway

ASKING PRICE: $3,392,000
CAP RATE: 6.25%

PROPERTY HIGHLIGHTS:

  • STRATEGICALLY POSITIONED — New 2016 construction outparcel to Home Depot located along the primary north-south route U.S. Hwy. 17 (35.5K ADT) connecting Murrells Inlet to Myrtle Beach, Charleston & Wilmington. Near new Walmart Neighborhood Market development & across from Inlet Square Mall (425K SF; anchored by Belk, Books-A-Millon & Planet Fitness). Additional development potential adjacent to the site.
  • MARKET-LEADING TENANTS — Starbucks has a prominent global presence with 24K+ retail stores in 70 countries, as well as a range of products that customers enjoy in stores, at home & on the go. Mattress Firm has the largest geographic footprint in the U.S (3,600+ locations in 49 states) among multi-brand mattress specialty retailers.
  • QUALITY INVESTMENT — 100% occupied to tenants on new, 10-year leases with built-in rent increases & options. Minimal landlord responsibilities.
  • EXPANSIVE TRADE AREA — Murrells Inlet, considered the “Seafood Capital of SC”, is located 10 miles south of Myrtle Beach. It is part of the Grand Strand — 60 miles of uninterrupted beaches & a popular tourist location hosting 14M+ visitors annually. There are 53K+ people, with an average household income of $64K+, within five miles of the property.
  • There are no features available

$3,392,000

6,000 SF

Price:

$3,392,000

Cap Rate:

6.25%

Building Size:

6,000 SF

SF Land Area:

1.12 acres

Current NOI:

$212,000

Lease Type:

NN

Remaining Term:

Ten (10) Years

Status:

Under Contract

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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