Renovated Mixed-Use Commercial
For Sale
$1,249,999
4378 Highway 17 Business, Murrells Inlet, SC 29576
COMMERCIAL - Murrells Inlet, SC
Property Size5,078 SF
Lot Size0.13 Acres
Price / SF$246.16
Days on Market49
Property Features for 4378 Highway 17 Business
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
40A Murrells Inlet - Georgetown County
Standard status
Active
Size
5,078 SF
Lot size
0.13 Acres
Amenities
spacious dining area
full-service beer and wine bar
commercial kitchen setup
Building Details
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: Aug 4
Last Checked: Aug 13 at 6:06AM
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.
This renovated mixed-use commercial property totals 5,078 square feet and includes an operating restaurant component, supplemental commercial space, and an upstairs area with flexible use potential. The restaurant portion encompasses approximately 2,500 square feet with a dining room, full-service beer and wine bar, and commercial kitchen. The sale includes the building, business, and most equipment. An approximately 900-square-foot commercial unit can accommodate retail, office, salon, or professional service use, while the approximately 1,138-square-foot upper level is configured for an apartment or professional office.
The property occupies 0.13 acres at 4378 Highway 17 Business in Murrells Inlet and is zoned Commercial. It is located less than one-half mile from the Murrells Inlet MarshWalk, with established restaurants, retail businesses, and tourist attractions in the surrounding area. The multi-component layout supports combined business operations, owner occupancy, or separate leasing arrangements, subject to verification of permitted uses and measurements.
The property occupies 0.13 acres at 4378 Highway 17 Business in Murrells Inlet and is zoned Commercial. It is located less than one-half mile from the Murrells Inlet MarshWalk, with established restaurants, retail businesses, and tourist attractions in the surrounding area. The multi-component layout supports combined business operations, owner occupancy, or separate leasing arrangements, subject to verification of permitted uses and measurements.
Key Highlights
- 5,078‑square‑foot mixed‑use commercial property on 0.13 acres
- Approximately 2,500‑square‑foot restaurant with dining area, beer and wine bar, and commercial kitchen
- Approximately 900‑square‑foot commercial unit suitable 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
Retail
$1.06M
$925.4K – $1.23M
NOI $74,028 @ 7.0% cap · market cap 5.92%
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
965
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial property combines restaurant operations with flexible retail, office, salon, or professional service space.
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: 5,078‑square‑foot mixed‑use commercial property on 0.13 acres; Approximately 2,500‑square‑foot restaurant with dining area, beer and wine bar, and commercial kitchen; Approximately 900‑square‑foot commercial unit suitable for retail, office, salon, or professional service use
