1240 21st Avenue,Myrtle Beach, SC

1240 21st Avenue1240 21st Avenue, Myrtle Beach, SC


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Description

The property at 21st Avenue in North Myrtle Beach was a Core Plus opportunity acquired in December 2017. The property is located within Central Business District of Myrtle Beach in the 21st Avenue Commerce Center Building. The property is 100% leased with anchor credit tenants.

Total Investment Costs: $1.4 Million
Net Operating Income: $150,000
Going in Cap Rate: 10.5
Internal Rate of Return: 11.5%

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Our ProcessStep By Step

SiteIdentification

Our investment team does ongoing market research and site analysis to determine the best locations geared towards our investment strategy.

SiteInspections

We perform site inspections and consult with general contractors and architects to identify property improvement opportunities and cost estimates.

PropertyAnalysis

We do extensive property analysis including underwriting property historical cash flow, three tiered income modeling, future cash flow projections and IRR and cash on cash return profitability models.

TheUnderwriting

Our team underwrites the current tenants and reviews all current lease agreements to determine an appropriate credit grade of the property and identify opportunities for improvement.