424 Sunset Boulevard South

Retail-Commercial for Sale
Catylist Listing ID: 30197475
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Other
Condo? Yes
Building Size (RSF): 8,192 SF
Gross Land Area: 0.28 Acres
Sale Price: $1,495,000
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 7,565 SF
Sale Terms: Cash to Seller, Other
Last Updated: 8/14/2018

Overview / Comments

Sunset Place Retail and Residential Condos. Center includes five fully-leased retail condos on main level and five residential condos on second level. The retail condos each contain 756 sq. ft., have 10 ft ceiling height, are separately metered, and may be combined to create 3,782 sq. ft. of open retail space. Two 756 sq. ft.,1 BR, 1BA residential condos are finished and furnished and are leased on VRBO. Now with sewer in place, the remaining units may be finished as three 1BR units or as one 2BR unit and one 1BR unit. The lot has 100 ft. of street frontage, great exposure and high beach traffic. This is an excellent 1031 exchange property or income generating investment. It's located on the Island of Sunset Beach, the southernmost inhabited beach in North Carolina. The island has a very limited commercial area, and the center is a very short walk to the Atlantic Ocean, the Sunset Beach pier and all other recreation facilities. Only 13 miles from the Myrtle Beach, SC bridge.

DIRECTIONS: From Highway 17, take Hwy 904 four miles to the second. light. Right on Sunset Blvd.N. Stop 300 yards before running into the Atlantic Ocean.

Attachments & Media

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $6,748 (Annual)
Assessed Value - Total($) $929,900 (Annual)

Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Brunswick
Taxing Authority: Brunswick County & Sunset Beach
Tax ID/APN: 263BI021 & 263BI02101
Is Condo?: Yes
Zoning: SUNSET BEACH: BEACH BUSINESS-1, BB-1
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Visibility: Excellent
Largest Nearby Street: Sunset Blvd. S
Feet of Frontage: 100
Highway Access: Hwy 904 & Hwy 179
Airports: Ocean Isle Beach Municipal, Myrtle Beach, SC, Wilmington, NC
Site Description: Less than one block to the beach with ocean views from the residential condos. Two story, beach construction
Area Description: The prime location on the island of Sunset Beach, NC to serve retail and food needs of the vacationers and residents. Very limited commercial competition due to restricted zoning by the town.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 2000
Construction/Siding: Wood Siding
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Zoning Description: BB-1
Lot Frontage: 100 ft
Lot Depth: 120 ft
Water Service: Municipal
Sewer Type: Municipal
Legal Description: L-27 B-28 SUNSET BEACH PL 7/64-64A & L-28 B-28 SUNSET BEACH PL 7/64-64A

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 144 4,941 15,343
Median Age: 63.26 55.68 58.67
Households: 76 2,387 7,469
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