Highway Frontage Warehouse with
For Sale
$3,750,000
3005 N Highway 17 Bypass, Myrtle Beach, SC 29577
SINGLE_FAMILY - Myrtle Beach, SC
Property Size24,000 SF
Lot Size1.92 Acres
Price / SF$156.25
Days on Market265
Property Features for 3005 N Highway 17 Bypass
General Information
Property type
Residential
Property subtype
Office
Zoning
HC
Subdivision
16F Myrtle Beach Area--10th Ave N to 29th Ave N
Standard status
Active
Size
24,000 SF
Lot size
1.92 Acres
Building Details
Number of units
1
Listing Agency:
BHHS Myrtle Beach Real Estate · Berkshire Hathaway HomeServices
(843) 449-9444
Listed By:
Tony Chestnut · License #62718
(843) 222-9320
Added: Nov 20, 2025
Changed: May 21
Last Checked: Aug 12 at 2:06AM
MLS# 2528004
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 property is situated on 1.92 acres and features 400 feet of direct frontage on Highway 17. The building encompasses 24,000 square feet, including an estimated 7,500 square feet of office space and 18,000 square feet of warehouse space with a loading dock. The property is located in Myrtle Beach, South Carolina.
Key Highlights
- 1.92 acre property with 400 feet of direct Hwy 17 frontage.
- 25000 Square Foot building.**
- 18000 square foot warehouse with loading dock.
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
$307,976
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
8.21%
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%
$6,159,520
$6.2M
Cap Rate 7%
$4,399,657
$4.4M
Cap Rate 9%
$3,421,956
$3.4M
Market Conditions
NOI Build-Up for 24,000 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
$466.6K $19.44/SF
− Vacancy
−$26.6K −$1.11/SF
EGI
$440.0K $18.33/SF
− OpEx
−$132.0K −$5.50/SF
NOI
$308.0K $12.83/SF
Area
Horry County, SC
Vacancy
5.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
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%
$6,159,520
Cap Rate 7%
$4,399,657
Cap Rate 9%
$3,421,956
Alternative Uses
Best Use
Warehouse
$5.34M
$4.67M – $6.23M
NOI $373,971 @ 7.0% cap · market cap 9.97%
Second Best
Industrial
$4.40M
$3.85M – $5.13M
NOI $307,976 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$6.08M
$5.32M – $7.10M
NOI $425,779 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
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.
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Frequently Asked Questions
What type of property is this?
Flex space - 24,000 SF building with office and warehouse space.
Where is this flex space located?
The property is located at 3005 N Highway 17 Bypass Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 1.92 acre property with **400 feet of direct Hwy 17 frontage.**; 25000 Square Foot building.**; 18000 square foot warehouse with loading dock.
