High Cap Rate in Myrtle Beach in Myrtle Beach, South Carolina For Sale

NORTHGATE CENTRE
Located on Highway 17 Near Market Commons. Great Highway frontage, lots of traffic and very clean property.
Eight unit Commercial Complex with the following tenants in place
Unit 1- Timeshare Call Center under 3 year lease @ $2,150 per month
Unit 2- Concrete Company under 2 year lease @ $750 per month
Unit 3- xxxx square foot space currently vacant on market for $1,800 per month
Unit 4- Photography Company under 2 year lease @ $575 per month
Unit 5- Wedding / Event Planning Company under 2 year lease @ $1,250 per month
Unit 6- Studio Lighting Company under 1 year lease @ $725 per month.
Unit 7- Retail Clothing Store under 1 year lease @ $575 per month
Unit 8- Beauty Salon under 2 year lease @ $515 per month.
Current Yearly Income of $78,480
Potential Yearly Income of $100,080
Current In Place Operating Expenses of $24,850
Net Operating Income Current $53,630
Net Operating Income Potential $75,230
Cap Rate Current 7.5%
Cap Rate Potential 10.5%
If you would like to see property or for more questions contact:
Mike Ferris
843-655-xxxx