STREAM Capital Partners > Properties > All Properties > Starbucks

Starbucks

Net Lease

1301 N Kings Hwy, Myrtle Beach, SC
Ownership Type:
Fee Simple
Price:
$2,778,000
Cap Rate:
6%
Current Rent:
$166,662
Tenancy:
Single Tenant
Lease Type:
DoubleNet
Lease Term:
10 years
Landlord Responsibilities:
Roof and Structural replacement
Renewal Options:
4, 5-year options
Building Sq. Ft.:
1,136 SF
Rent Increases:
10% every 5 Years
Site Size:
.6 Acres

Investment Highlights

  • Commitment to the Site: Starbucks signed a new 10-year lease with no kick-out clause.
  • Passive Ownership Opportunity: The tenant is responsible for all Taxes, CAM, and insurance, providing minimal landlord ownership responsibilities.
  • Scheduled Rent Increases: The lease calls for rental increases of 10% every five years including the option periods.
  • Convenient Access: This property is ideally situated just three miles from US-17, which boasts over 30,000 vehicles per day (VPD). Additionally, it offers direct access off N Kings Highway, which sees over 28,800 VPD and serves as the primary highway through Myrtle Beach.
  • Myrtle Beach MSA Location: Myrtle Beach is located on the eastern coast of South Carolina and has an affluent customer base, with an average household income of $94,106 within 1 mile of the site. It is also a tourism hub, hosting nearly 17 million visitors per year.
  • Myrtle Beach Pier and Boardwalk: Site sits across Kings Hwy from the Myrtle Beach Sky Wheel, being the number 1 tourist attraction along the Boardwalk.
Ownership Type:
Fee Simple
Price:
$2,778,000
Cap Rate:
6%
Current Rent:
$166,662
Lease Type:
DoubleNet
Lease Term:
10 years
Landlord Responsibilities:
Roof and Structural replacement
Renewal Options:
4, 5-year options
Building Sq. Ft.:
1,136 SF
Rent Increases:
10% every 5 Years
Site Size:
.6 Acres

Listing Agents

Connor Shell

Managing Director
407.913.9009[email protected]

Jordan Shtulman

Managing Principal
847.226.4133[email protected]

Broker Of Record: Jonah Helbraun, Lic: SC – 137125SC

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