Renovated Mixed-Use
For Sale
$1,249,999
4378 Highway 17 Business, Murrells Inlet, SC 29576
COMMERCIAL/INDUSTRIAL, Murrells Inlet, SC
Property Size5,078 SF
Lot Size0.13 Acres
Price / SF$246.16
Days on Market94
Property Features for 4378 Highway 17 Business
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Exterior features
Sprinkler System, Fire Alarm, Fixtures/Furniture, Office(s), Reception Area, Kitchen Facility, Restrooms - Public, Sign, Handicap Access
Accessibility
Accessible Approach with Ramp
Subdivision
40A Murrells Inlet - Georgetown County
Standard status
Active
Size
5,078 SF
Lot size
0.13 Acres
Amenities
full-service beer and wine bar
commercial kitchen
Building Details
Floors in Building
2
Number of units
1
Listing Agency:
CENTURY 21 Broadhurst · Century 21 Real Estate
(843) 448-7169
Listed By:
Houser & Co. Team
(843) 999-5933
Added: Jun 26
Changed: Sep 24
Last Checked: Sep 27 at 8:06AM
MLS# 2616199
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.
Located at 4378 Highway 17 Business in Murrells Inlet, this renovated mixed-use commercial property contains approximately 5,078 square feet on 0.13 acres. The principal component is approximately 2,500 square feet of restaurant space with a dining area, beer and wine bar, and commercial kitchen. The sale includes the building, business, and most equipment.
An additional commercial unit of approximately 900 square feet can accommodate retail, office, salon, or professional service use. Upstairs, approximately 1,138 square feet is configured as an apartment or professional office. The property is zoned Commercial and sits less than one-half mile from the Murrells Inlet MarshWalk, near established restaurants, retail businesses, and tourist attractions. Exterior features include signage, public restrooms, a fire alarm, sprinkler system, handicap access, and an accessible approach with ramp.
An additional commercial unit of approximately 900 square feet can accommodate retail, office, salon, or professional service use. Upstairs, approximately 1,138 square feet is configured as an apartment or professional office. The property is zoned Commercial and sits less than one-half mile from the Murrells Inlet MarshWalk, near established restaurants, retail businesses, and tourist attractions. Exterior features include signage, public restrooms, a fire alarm, sprinkler system, handicap access, and an accessible approach with ramp.
Key Highlights
- Approximately 5,078 square feet on 0.13 acres
- Approximately 2,500‑square‑foot restaurant area with dining space, beer and wine bar, and commercial kitchen
- Approximately 900‑square‑foot commercial unit for retail, office, salon, or professional service use
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
$83,772
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
6.70%
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%
$1,675,440
$1.7M
Cap Rate 7%
$1,196,743
$1.2M
Cap Rate 9%
$930,800
$930.8K
Market Conditions
NOI Build-Up for 5,078 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
$114.6K $22.56/SF
− Vacancy
−$2.9K −$0.56/SF
EGI
$111.7K $22.00/SF
− OpEx
−$27.9K −$5.50/SF
NOI
$83.8K $16.50/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$22.56 /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%
$1,675,440
Cap Rate 7%
$1,196,743
Cap Rate 9%
$930,800
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,772 @ 7.0% cap · market cap 6.70%
Second Best
Mixed Use
$920.6K
$805.5K – $1.07M
NOI $64,440 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,088 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 29576, SC
32,476
Population
22,097
Households
1.5
Avg Household Size
61
Median Age
32%
College-Educated
96%
High-School Grad
30.5 sq mi
ZIP Area
1,065
Density / Sq Mi
$70,343
Median Household Income
$36,352
Median Earnings
$1,467
Median Rent
$315,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property combines restaurant, retail, office, and residential configurations within a flexible multi-use layout.
Where is this mixed-use property located?
The property is located at 4378 Highway 17 Business Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $1,249,999.
What are key features of this property?
This property features: Approximately 5,078 square feet on 0.13 acres; Approximately 2,500‑square‑foot restaurant area with dining space, beer and wine bar, and commercial kitchen; Approximately 900‑square‑foot commercial unit for retail, office, salon, or professional service use
