Grifols Plasma | NNN Lsed | 7+ yrs Remaining | 1890 Mr. Joe White Ave
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Grifols Plasma | NNN Lsed | 7+ yrs Remaining 1890 Mr. Joe White Ave
18,232 SF Retail Building Myrtle Beach, SC 29577 $4,052,000 ($222/SF) 7.25% Cap Rate
Investment Highlights
- 7 Years Remaining | Scheduled Rental Increases | Corporate Guaranteed | Well-Known & Established Brand
- Direct Residential Consumer Base |Demographics in 5-Mile Trade Area
- Located Along Mr. Joe White Avenue | Centralized Location | Excellent Visibility
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Major Surrounding Shopping Centers | Strong Tenant Presence
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, Grifols Plasma investment property located in Myrtle Beach, SC. The tenant, Biomat USA, Inc. (dba Grifols Plasma) has over 7 years of firm term remaining with an additional 4 (5-year) option periods left to extend. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is guaranteed by Grifols Shared Services North America, Inc. and is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
18,232 SF
Building Class
C
Year Built
2001
Price
$4,052,000
Price Per SF
$222
Cap Rate
7.25%
NOI
$293,760
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.27
Lot Size
1.54 AC
Opportunity Zone
Yes
Zoning
C3 - Commercial
Parking
30 Spaces (1.64 Spaces per 1,000 SF Leased)
Frontage
95 FT on Mister Joe White Ave
Amenities
- 24 Hour Access
- Pylon Sign
- Signage
- Storage Space
- Air Conditioning
Bike Score ®
Very Bikeable (72)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 42511020008 | Improvements Assessment | $60,324 |
| Land Assessment | $15,577 | Total Assessment | $75,901 |
PROPERTY TAXES
Parcel Number
42511020008
Land Assessment
$15,577
Improvements Assessment
$60,324
Total Assessment
$75,901
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Grifols Plasma | NNN Lsed | 7+ yrs Remaining | 1890 Mr. Joe White Ave
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