Highway Commercial Motel Redevelopment
For Sale
$1,500,000
1443 Highway 17, Little River, SC 29566
COMMERCIAL/INDUSTRIAL, Little River, SC
Property Size7,486 SF
Lot Size1.65 Acres
Price / SF$200.37
Days on Market39
Property Features for 1443 Highway 17
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC
Subdivision
04B Little River Area--North of Hwy 9
Standard status
Active
Size
7,486 SF
Lot size
1.65 Acres
Building Details
Floors in Building
1
Number of units
21
Listing Agency:
NAI The Litchfield Company
(843) 979-6754
Listed By:
Abernethy & Jones Commercial Group · License #1033
(843) 979-6754
Added: Jul 20
Changed: Aug 19
Last Checked: Aug 27 at 2:06PM
MLS# 2618091
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property consists of approximately 1.65 acres and includes the Lake Shore motel, which has been closed for a couple of years, along with an existing single-family home that is currently occupied by the owners. The sale is being offered as-is, and the site is zoned HC (Highway Commercial). The listing also notes that the HC district is no longer used in Horry County, but this property is grandfathered, allowing for many uses.
The site includes approximately 180 feet of frontage along Highway 17 and is comprised of two parcels. The property is adjacent to a large pond that may be used for stormwater management. In addition, the property includes an existing ground lease for a billboard that generates annual income.
An additional, connected 3.30-acre tract is also for sale. Combining the two properties would create an estimated 5-acre site with Highway 17 frontage.
The site includes approximately 180 feet of frontage along Highway 17 and is comprised of two parcels. The property is adjacent to a large pond that may be used for stormwater management. In addition, the property includes an existing ground lease for a billboard that generates annual income.
An additional, connected 3.30-acre tract is also for sale. Combining the two properties would create an estimated 5-acre site with Highway 17 frontage.
Key Highlights
- Approx. 1.65‑acre Hwy 17 site in HC (Highway Commercial) zoning, grandfathered for many uses.
- Includes the Lake Shore motel (closed for a couple of years) and an owner‑occupied single‑family home—sold as‑is.
- Two parcels with approx. 180 ft of frontage along Hwy 17.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,004
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$960,080
$960.1K
Cap Rate 7%
$685,771
$685.8K
Cap Rate 9%
$533,378
$533.4K
Market Conditions
NOI Build-Up for 7,486 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$112.3K $15.00/SF
− Vacancy
−$11.2K −$1.50/SF
EGI
$101.1K $13.50/SF
− OpEx
−$53.1K −$7.09/SF
NOI
$48.0K $6.41/SF
Area
Horry County, SC
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$960,080
Cap Rate 7%
$685,771
Cap Rate 9%
$533,378
Alternative Uses
Best Use
Hotel Hospitality
$685.8K
$600.1K – $800.1K
NOI $48,004 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,808 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29566, SC
21,792
Population
13,437
Households
1.6
Avg Household Size
58
Median Age
25%
College-Educated
92%
High-School Grad
32.4 sq mi
ZIP Area
673
Density / Sq Mi
$63,358
Median Household Income
$36,579
Median Earnings
$1,488
Median Rent
$275,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Motel - As-is sale on Highway 17 with Lake Shore motel and an owner-occupied single-family home on HC-zoned land.
Where is this motel located?
The property is located at 1443 Highway 17 Little River, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approx. 1.65‑acre Hwy 17 site in HC (Highway Commercial) zoning, grandfathered for many uses.; Includes the Lake Shore motel (closed for a couple of years) and an owner‑occupied single‑family home—sold as‑is.; Two parcels with approx. 180 ft of frontage along Hwy 17.
