For Sale
$599,000
1560 G P Smith Ave., Longs, SC 29568
COMMERCIAL/INDUSTRIAL, Longs, SC
Property Size1,800 SF
Lot Size1.03 Acres
Price / SF$332.78
Days on Market322
Property Features for 1560 G P Smith Ave.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
AG2
Subdivision
Buck Creek
Standard status
Active
Size
1,800 SF
Lot size
1.03 Acres
Building Details
Floors in Building
1
Number of units
2
Listing Agency:
North Beach Realty
(843) 272-1222
Listed By:
Steven Perry · License #46584
(843) 902-3319
Added: Oct 6, 2025
Changed: Aug 19
Last Checked: Aug 23 at 9:06AM
MLS# 2525702
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.
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
$22,842
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
3.81%
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%
$456,840
$456.8K
Cap Rate 7%
$326,314
$326.3K
Cap Rate 9%
$253,800
$253.8K
Market Conditions
NOI Build-Up for 1,800 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
$38.9K $21.60/SF
− Vacancy
−$2.3K −$1.30/SF
EGI
$36.5K $20.30/SF
− OpEx
−$13.7K −$7.61/SF
NOI
$22.8K $12.69/SF
Area
Horry County, SC
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$456,840
Cap Rate 7%
$326,314
Cap Rate 9%
$253,800
Alternative Uses
Best Use
Mixed Use
$326.3K
$285.5K – $380.7K
NOI $22,842 @ 7.0% cap · market cap 3.81%
Second Best
Office B
$314.7K
$275.4K – $367.2K
NOI $22,032 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$456.2K
$399.2K – $532.2K
NOI $31,933 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 29568, SC
15,287
Population
8,131
Households
1.9
Avg Household Size
52
Median Age
18%
College-Educated
92%
High-School Grad
89.5 sq mi
ZIP Area
171
Density / Sq Mi
$61,048
Median Household Income
$29,181
Median Earnings
$1,241
Median Rent
$234,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 1560 G P Smith Ave. Longs, SC.
What is the asking price?
The asking price for this property is $599,000.
