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Auto Service - Gas-Conv

Abs. NNN C-Store Gas Station | GPM Investment Guarantee | Myrtle Beach, SC

1202 Port Dr, Myrtle Beach, SC 29577

Listing Price: $1,111,111

Cap Rate
5.85%
Tenant Name
Scotchman
Years Remaining On Lease
8.9
Gross SF
2,070
Guarantor
Limited Corporate Guarantee
Rentable SF
2,070
Price/Gross SF
$536.77
Lease Type
Absolute Net
Rent Per Square Feet
$31.40

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Scotchman convenience store and gas station located at 1202 Port Drive in Myrtle Beach, South Carolina, a quick 10-minute drive from world-famous Myrtle Beach. The freestanding single-tenant property consists of a 2,070 Sq.Ft Convenience Store, a canopy with fueling stations, and is situated on a .59-acre parcel of land. The absolute NNN lease is guaranteed by GPM Investments, the 6th largest convenience store chain in the country with approximately 3,200 locations. In 2020, GPM Investments’ parent company entered into a merger transaction to form ARKO Corp., a publicly traded company on the NASDQ with revenues in excess of $7.9B annually. The tenant has demonstrated tremendous commitment to the site which is reflected in their continued occupancy since the property’s construction in 1986, with more than 37 years of tenancy. Strategically located on Highway-17, the property benefits from its high visibility to more than 55,100 vehicles per day. The property is also conveniently located just a quick 5-minute drive from Myrtle Beach International Airport and benefits from great accessibility to numerous other highway systems. The immediate trade area is also home to Walmart Neighborhood Market, CVS, McDonald’s, Dunkin, Starbucks, Publix, and numerous other National and Regional retailers. The site is also just down the street from the Coastal Grand Mall, a 1,047,732 Sq.Ft super-regional shopping mall with more than 144 stores. Numerous apartment complexes are located within a 1-to-2-mile radius of this property including The Veranda at Market Common with 288 units, Cape Landing Apartments with 288 units, The Pointe at Myrtle Beach with 229 units, Autumn Chase Apartments with 64 units, Bridgecreek Townhomes with 42 townhomes, The Latitude at Commons, The Parker at Myrtle Beach, Palmetto Pointe, Flintlake Apartments and Ivystone Apartments. There are also several brand-new luxury home developments in the immediate area including Meridian by D. R. Horton, Ryan Homes at Forestbrook Townhomes, Ryan Homes at Forest Pines, Beazer Homes at Harborview, Lennar at Belle Harbor, Lennar at Forestbrook, Lennar at Windsor Plantation, and Oyster Bluff. Myrtle Beach is a resort city on the east coast of the United States in Horry County, South Carolina and is located in the center of a long and continuous stretch of beach known as “The Grand Strand.” Myrtle Beach is one of the major centers of tourism in South Carolina and boasts a subtropical climate with miles of beaches, 86 golf courses, 1,800 restaurants and over 20 million visitors each year. The Myrtle Beach Metropolitan Area is one of the fastest growing metropolitan areas in the U.S. with a population over 551,126.

Investment Highlights

  • Absolute NNN | No Landlord Responsibilities
  • Corporate Guarantee from GPM Investments | 1,400+ Locations
  • GPM is 6th Largest Convenience Store Chain in U.S
  • Incredible Visibility | Frontage to Highway-17 with Traffic Counts Exceeding 55,000 VPD
  • Fee Simple Allowing for Depreciation | Qualifies for Bonus Depreciation

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Auto Service - Gas-Conv

Abs. NNN C-Store Gas Station | GPM Investment Guarantee | Myrtle Beach, SC

Listing Price: $1,111,111

Cap Rate
5.85%
Tenant Name
Scotchman
Years Remaining On Lease
8.9
Gross SF
2,070
Guarantor
Limited Corporate Guarantee
Rentable SF
2,070
Price/Gross SF
$536.77
Lease Type
Absolute Net
Rent Per Square Feet
$31.40

Investment Highlights

  • Absolute NNN | No Landlord Responsibilities
  • Corporate Guarantee from GPM Investments | 1,400+ Locations
  • GPM is 6th Largest Convenience Store Chain in U.S
  • Incredible Visibility | Frontage to Highway-17 with Traffic Counts Exceeding 55,000 VPD
  • Fee Simple Allowing for Depreciation | Qualifies for Bonus Depreciation

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Scotchman convenience store and gas station located at 1202 Port Drive in Myrtle Beach, South Carolina, a quick 10-minute drive from world-famous Myrtle Beach. The freestanding single-tenant property consists of a 2,070 Sq.Ft Convenience Store, a canopy with fueling stations, and is situated on a .59-acre parcel of land. The absolute NNN lease is guaranteed by GPM Investments, the 6th largest convenience store chain in the country with approximately 3,200 locations. In 2020, GPM Investments’ parent company entered into a merger transaction to form ARKO Corp., a publicly traded company on the NASDQ with revenues in excess of $7.9B annually. The tenant has demonstrated tremendous commitment to the site which is reflected in their continued occupancy since the property’s construction in 1986, with more than 37 years of tenancy. Strategically located on Highway-17, the property benefits from its high visibility to more than 55,100 vehicles per day. The property is also conveniently located just a quick 5-minute drive from Myrtle Beach International Airport and benefits from great accessibility to numerous other highway systems. The immediate trade area is also home to Walmart Neighborhood Market, CVS, McDonald’s, Dunkin, Starbucks, Publix, and numerous other National and Regional retailers. The site is also just down the street from the Coastal Grand Mall, a 1,047,732 Sq.Ft super-regional shopping mall with more than 144 stores. Numerous apartment complexes are located within a 1-to-2-mile radius of this property including The Veranda at Market Common with 288 units, Cape Landing Apartments with 288 units, The Pointe at Myrtle Beach with 229 units, Autumn Chase Apartments with 64 units, Bridgecreek Townhomes with 42 townhomes, The Latitude at Commons, The Parker at Myrtle Beach, Palmetto Pointe, Flintlake Apartments and Ivystone Apartments. There are also several brand-new luxury home developments in the immediate area including Meridian by D. R. Horton, Ryan Homes at Forestbrook Townhomes, Ryan Homes at Forest Pines, Beazer Homes at Harborview, Lennar at Belle Harbor, Lennar at Forestbrook, Lennar at Windsor Plantation, and Oyster Bluff. Myrtle Beach is a resort city on the east coast of the United States in Horry County, South Carolina and is located in the center of a long and continuous stretch of beach known as “The Grand Strand.” Myrtle Beach is one of the major centers of tourism in South Carolina and boasts a subtropical climate with miles of beaches, 86 golf courses, 1,800 restaurants and over 20 million visitors each year. The Myrtle Beach Metropolitan Area is one of the fastest growing metropolitan areas in the U.S. with a population over 551,126.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

Financing By

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