Don't miss this rare investment opportunity to own a 3,440 ft.²; office building for sale in the highly sought after North Myrtle Beach area offered at a potential 8% CAP rate based on rental increases and passthrough expenses. This two-tenant office building is fully leased with 3% rental escalations per year on Suite B. Suite A is a value-add short term lease that can be converted to a long-term lease or terminated for a potential owner/ user. The building was finished in 2017 with hurricane impact windows, is completely updated with modern finishes and has been meticulously maintained. Suite A consists of 1,920 rentable SF open floor plan with kitchen, restrooms, and storage; Suite B is a 1,520 rentable SF office that offers an ideal floorplan with a reception area, boardroom, 4 offices, large storage area, kitchenette/breakroom and restroom complete with a walk-in shower as well as a washer/dryer hookup. Each suite is individually metered with its own HVAC unit. The building is located on a 0.31-acre corner lot with close proximity to HWY 17, featuring 12 parking spaces. Don't miss your opportunity to own this rare investment property with convenient access to all major thoroughfares. This property is a must see! Highlights : 8% POTENTIAL CAP RATE 3% RENTAL ESCALATIONS PER YEAR NNN LEASE; LOW OPERATING EXPENSES 3,440 TOTAL SF; OFFICE A 1,920 RSF; OFFICE B 1,520 RSF VALUE-ADD, SUITE A UNDER MARKET RENT/ PASSTHROUGH EXPENSES PRIME LOCATION OFF OF HWY 17 IN NORTH MYRTLE BEACH
This listing is provided courtesy of Tideland Commercial
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