28-Unit Apartment
For Sale
$5,250,000
4601 Lomax Ct., Murrells Inlet, SC 29576
COMMERCIAL/INDUSTRIAL, Murrells Inlet, SC
Property Size34,720 SF
Lot Size1.00 Acre
Price / SF$151.21
Days on Market137
Property Features for 4601 Lomax Ct.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MF
Subdivision
40A Murrells Inlet - Georgetown County
Standard status
Active
Size
34,720 SF
Lot size
1.00 Acre
Amenities
community pool
screened porches
Building Details
Floors in Building
2
Number of units
28
Listing Agency:
James W Smith Real Estate Co
(843) 237-4246
Listed By:
Jimmy Smith
(843) 241-8510
Added: Apr 15
Changed: Aug 25
Last Checked: Aug 29 at 4:06PM
MLS# 2609722
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 multifamily property comprises seven buildings with 28 multi-unit townhomes totaling 34,720 square feet on 1 acre. The residences feature spacious layouts and private screened porches, creating a consistent configuration across the portfolio. A community pool is available for residents within the development.
Located at 4601 Lomax Ct. in Murrells Inlet, South Carolina, the property carries MF zoning and is positioned in the Lowcountry community. The offering combines multiple residential buildings and shared amenities within a single assembled asset.
Located at 4601 Lomax Ct. in Murrells Inlet, South Carolina, the property carries MF zoning and is positioned in the Lowcountry community. The offering combines multiple residential buildings and shared amenities within a single assembled asset.
Key Highlights
- Seven buildings containing 28 multi‑unit townhomes
- 34,720 square feet across the portfolio
- 1‑acre multifamily property
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
$320,510
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
6.10%
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%
$6,410,200
$6.4M
Cap Rate 7%
$4,578,714
$4.6M
Cap Rate 9%
$3,561,222
$3.6M
Market Conditions
NOI Build-Up for 34,720 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
$608.3K $17.52/SF
− Vacancy
−$25.5K −$0.74/SF
EGI
$582.7K $16.78/SF
− OpEx
−$262.2K −$7.55/SF
NOI
$320.5K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$6,410,200
Cap Rate 7%
$4,578,714
Cap Rate 9%
$3,561,222
Alternative Uses
Best Use
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,510 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.80M
$7.70M – $10.27M
NOI $615,961 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
441
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-building multifamily offering with townhome layouts, screened porches, and access to a community pool.
Where is this apartment building located?
The property is located at 4601 Lomax Ct. Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Seven buildings containing 28 multi‑unit townhomes; 34,720 square feet across the portfolio; 1‑acre multifamily property
