The Offices at Market Common

Office for Sale
Catylist Listing ID: 30318909
Property Subtypes: Office Building
Building Size (RSF): 39,159 SF
Gross Building Area: See Agent
Sale Price: $9,095,700
Unit Price: $232.28 PSF
Property Use Type: Investment
Building Name: The Offices at Market Common
Class of Space: Class A
Sale Terms: Undisclosed
Cap Rate: 8.0%
Last Updated: 11/9/2018

Overview / Comments

39,159 sq. ft. Class "A" office building with stable tenant mix located at Market Common, Myrtle Beach's premier live-work development.

Financials

Finance Data Year 2019
Net Operating Income $727,656 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name General Services Administration
Tenant Business Name Edward Jones
Tenant Business Name The Trembley Group
Tenant Business Name Nexsen Pruet

Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Horry
Tax ID/APN: 186-27-01-173
Property Located Between: Deville Street & Johnson Avenue
Property Visibility: Excellent
Highway Access: Highways 17 Business and Bypass are accessible via Farrow Parkway, the main thoroughfare through Market Common, that intersects both Deville Street and Johnson Avenue 2 blocks south of subject property.
Airports: MYR
Site Description: Built upon a 0.33 acre parcel. Parking lot and street parking bordering the property are owned and maintained by the City of North Myrtle Beach.
Area Description: Subject property is located at the corner of Johnson Avenue and Nevers Street in The Market Common, Myrtle Beach’s premier live-work development. Market Common is located within Wither’s Preserve, one of the fastest growing developments in South Carolina. Convenient by foot to residences and public amenities, subject property is positioned next to retail and restaurants to include Grand 14 Theater, Gordon Biersch, Tupelo Honey, Tommy Bahama, King Street Grill, PF Chang’s, Victoria’s Secret, and Grand Park.
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 2008
Exterior Description: Brick Facade
Parking Type: Structure
Part of Planned Development?: Yes
Land Ownership: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,491 38,385 76,606
Median Age: 40.31 37.18 39.83
Households: 1,264 16,189 32,730

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