Two-Story Office
For Sale
$799,900
161 McDonald Ct., Myrtle Beach, SC 29588
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size2,416 SF
Lot Size0.28 Acres
Price / SF$331.08
Days on Market173
Property Features for 161 McDonald Ct.
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Security features
Security System
Exterior features
Fixtures/Furniture, Inside Storage, Kitchen Facility, Office(s), Outside Storage, Restrooms - Private, Security System
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
2,416 SF
Lot size
0.28 Acres
Building Details
Floors in Building
2
Number of units
1
Additional Structures
Storage
Listing Agency:
CENTURY 21 Thomas · Century 21 Real Estate
(843) 273-3002
Listed By:
Scott Mathews · License #210591
(843) 222-7082
Added: Mar 6
Changed: Aug 19
Last Checked: Aug 26 at 1:06PM
MLS# 2605966
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.
This two-level office property contains 2,416 square feet arranged around eleven offices, reception and conference areas, three bathrooms, storage, and kitchen or breakroom facilities. Desks and other furnishings are included with the sale. The building is supported by a 20 x 20 storage structure with a roll-up door, providing additional enclosed storage behind the main office.
Eleven parking spaces are positioned at the front, with additional parking available behind the property. Commercial zoning supports the existing office configuration and its flexible interior layout. The property offers access to The Market Common, Highway 17, and other Grand Strand destinations.
Eleven parking spaces are positioned at the front, with additional parking available behind the property. Commercial zoning supports the existing office configuration and its flexible interior layout. The property offers access to The Market Common, Highway 17, and other Grand Strand destinations.
Key Highlights
- 2,416‑square‑foot, two‑story office building
- Eleven offices with reception and conference areas
- Three bathrooms plus kitchen and breakroom facilities
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
$29,572
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
3.70%
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%
$591,440
$591.4K
Cap Rate 7%
$422,457
$422.5K
Cap Rate 9%
$328,578
$328.6K
Market Conditions
NOI Build-Up for 2,416 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
$46.4K $19.20/SF
− Vacancy
−$7.0K −$2.88/SF
EGI
$39.4K $16.32/SF
− OpEx
−$9.9K −$4.08/SF
NOI
$29.6K $12.24/SF
Area
Horry County, SC
Vacancy
15.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$591,440
Cap Rate 7%
$422,457
Cap Rate 9%
$328,578
Alternative Uses
Best Use
Office B
$422.5K
$369.7K – $492.9K
NOI $29,572 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.3K
$535.8K – $714.4K
NOI $42,862 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 29588, SC
48,113
Population
22,223
Households
2.2
Avg Household Size
45
Median Age
26%
College-Educated
92%
High-School Grad
42.0 sq mi
ZIP Area
1,146
Density / Sq Mi
$66,854
Median Household Income
$34,518
Median Earnings
$1,220
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Commercially zoned property includes private restrooms, kitchen facilities, and on-site storage.
Where is this office building located?
The property is located at 161 McDonald Ct. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 2,416‑square‑foot, two‑story office building; Eleven offices with reception and conference areas; Three bathrooms plus kitchen and breakroom facilities
