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Electronics

Verizon | N Myrtle Beach

605 Hwy 17 N, North Myrtle Beach, SC 29582

Listing Price: $2,694,000

Cap Rate
6.50%
Tenant Name
Cellco Partnership/Verizon Wireless
Years Remaining On Lease
3.1
Gross SF
4,520
Guarantor
Corporate Guarantee
Rentable SF
4,520
Price/Gross SF
$596.02
Lease Type
Double Net
Rent Per Square Feet
$38.75

Investment Overview

Original Ten-Year Lease | Thirteen Year Operating History
- Over 3 Years of Term Remaining

Nine Percent Rent Escalations in Options
- Strong Hedge Against Inflation

Original Twenty-Year Transferable Roof Warranty
- ± Six Years Remaining on Warranty

Strategically located Directly on Highway 17 North
- Annual Average Daily Traffic: 42,000+

Access to/from Hard Corner Signalized Intersection
- Allows for Greater Access to Highway 17 N & N Port Dr

Ideally Located in a Major Retail Corridor
- Across from a Walmart Supercenter Power Center

Two Five-Year Options to Extend
- Tenant has Shown Commitment through First Option

Strong Demos | $90,000± Average HH Income (1 Mile)
- ± 33% Increase in Five Mile Population since 2010

Investment Highlights

  • Original Ten-Year Lease | Thirteen Year Operating History - Over 3 Years of Term Remaining
  • Nine Percent Rent Escalations in Options - Strong Hedge Against Inflation
  • Original Twenty-Year Transferable Roof Warranty - ± Six Years Remaining on Warranty
  • Strategically located Directly on Highway 17 North - Annual Average Daily Traffic: 42,000+
  • Access to/from Hard Corner Signalized Intersection - Allows for Greater Access to Highway 17 N & N Port Dr
  • Ideally Located in a Major Retail Corridor - Across from a Walmart Supercenter Power Center
  • Two Five-Year Options to Extend - Tenant has Shown Commitment through First Option
  • Strong Demos | $90,000± Average HH Income (1 Mile) - ± 33% Increase in Five Mile Population since 2010

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Electronics

Verizon | N Myrtle Beach

Listing Price: $2,694,000

Cap Rate
6.50%
Tenant Name
Cellco Partnership/Verizon Wireless
Years Remaining On Lease
3.1
Gross SF
4,520
Guarantor
Corporate Guarantee
Rentable SF
4,520
Price/Gross SF
$596.02
Lease Type
Double Net
Rent Per Square Feet
$38.75

Investment Highlights

  • Original Ten-Year Lease | Thirteen Year Operating History - Over 3 Years of Term Remaining
  • Nine Percent Rent Escalations in Options - Strong Hedge Against Inflation
  • Original Twenty-Year Transferable Roof Warranty - ± Six Years Remaining on Warranty
  • Strategically located Directly on Highway 17 North - Annual Average Daily Traffic: 42,000+
  • Access to/from Hard Corner Signalized Intersection - Allows for Greater Access to Highway 17 N & N Port Dr
  • Ideally Located in a Major Retail Corridor - Across from a Walmart Supercenter Power Center
  • Two Five-Year Options to Extend - Tenant has Shown Commitment through First Option
  • Strong Demos | $90,000± Average HH Income (1 Mile) - ± 33% Increase in Five Mile Population since 2010

Investment Overview

Original Ten-Year Lease | Thirteen Year Operating History - Over 3 Years of Term Remaining Nine Percent Rent Escalations in Options - Strong Hedge Against Inflation Original Twenty-Year Transferable Roof Warranty - ± Six Years Remaining on Warranty Strategically located Directly on Highway 17 North - Annual Average Daily Traffic: 42,000+ Access to/from Hard Corner Signalized Intersection - Allows for Greater Access to Highway 17 N & N Port Dr Ideally Located in a Major Retail Corridor - Across from a Walmart Supercenter Power Center Two Five-Year Options to Extend - Tenant has Shown Commitment through First Option Strong Demos | $90,000± Average HH Income (1 Mile) - ± 33% Increase in Five Mile Population since 2010

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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