Sands Investment Group is Pleased to Exclusively Offer For Sale 501 Village Shopping Center, a 20,908 SF Fully Occupied, Daily Needs Retail Center With a Developable Lot Shadow Anchored By the State’s Most Visited Walmart Supercenter (Ranked #1 Out of 82 Stores According to Placer.ai) Located in Myrtle Beach, South Carolina. 501 Village is an Exceptional Opportunity For an Investor to Acquire an Internet Resistant, Daily Needs Retail Center With Immediate Upside That Already Offers a Steady and Secure Income Stream With Attractive Income Growth From Fixed Rental Increases and is Located Inside a Major Regional Shopping Hub Within the Myrtle Beach Area, Recognized as the Top Tourism Destination in the Southeast Coast With More Than 19 Million Annual Visitors.
- Prime Location: 501 Village is Centrally Located Next to Walmart, Costco and Home Depot at the High-Traffic Interchange of Hwy 501 (65,844 VPD) and Hwy 17 (44,739 VPD), Just 2.1-Miles From Myrtle Beach’s Tourism Arterial in Ocean Blvd
- Fully Occupied Retail Center: The Property Features a 20,908 Square Foot Daily Needs
Retail Center That is Fully Leased, Providing Steady Income From Long-Standing
Tenancy
- High Performing Anchor: 501 Village Benefits From Being Shadow Anchored By the #1 Most Visited Walmart Supercenter in South Carolina (Ranked #1 Out of 82 Stores According to Placer.ai), With 3.9M Visits Per Year
- Dominant Retail Hub: Strategically Located Next to the Coastal Grand Mall, a 1,037,499 SF Regional Mall That Features Two Open-Air Centers, Which Include a Large Mix of Retail, Lifestyle, Service, Hotels and Unique Dining Options
- Strong Tenant Mix: The Center Features Six Food and Service-Oriented Tenants on Long-Term NNN Leases With a Weighted Average Lease Term (WALT) of 5.28 Years
- Proven Tenant Success: 71% of the GLA Has Been Successfully Occupied By Tenants Operating at This Location For an Average of 15 Years, Indicating Strong Performance and Tenant Satisfaction
- Value-Add Component: Adam & Eve Occupies 19% of the Total GLA and is Only Paying $16.70/SF/Yr NNN, Which is Well Below Market and Provides Near Term Upside For a Prospective Investor Upon Lease Expiration in Year 2 of the Holding Period
- Development Opportunity: The Property Includes a Developable 2.50 Acre Lot, Providing Significant Near-Term Upside Potential For Investors Through Development and Lease-Up of the Site
- Attractive Rental Growth: The Center Offers Fixed Annual Contractual Rent Increases Across the Tenant Roster, Ensuring Steady Annual Income Growth Throughout the Holding Period
- Stable Income Stream: 501 Village Provides Investors With a Secure Income Stream From an Internet-Resistant, Daily Needs Tenant Line-Up
- Economic Advantage: Located in Myrtle Beach, a Top Tourism Destination With Over 19 Million Annual Visitors, the Property Benefits From a Robust Tourism-Driven Economy Where Retailers Profit From the Area’s Pro-Business Atmosphere, Propagated By Low Income Taxes and Numerous Incentives For Growing Businesses
- Booming Demographics: U.S. News and World Report Named Myrtle Beach, SC, the Fastest Growing Place in America For the 3rd Year in a Row (2021-2023)
In Cooperation With Sands Investment Group Charleston, LLC – Lic. #20891 BoR: Chris Sands – Lic. SC #93103
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