Downtown Conway Triplex
For Sale
$750,000
510 Sycamore St., Conway, SC 29526
MULTI-FAMILY, Conway, SC
Property Size3,927 SF
Price / SF$190.99
Days on Market83
Property Features for 510 Sycamore St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Inside City Limits
Elementary school
Waccamaw Elementary School
Middle school
Black Water Middle School
High school
Carolina Forest High School
Subdivision
21E Conway central--East edge of Conway / north & south of 501
Standard status
Active
Size
3,927 SF
Building Details
Year built
1946
Number of units
3
Listing Agency:
Anchor Realty
(843) 365-5272
Listed By:
Jay McDowell · License #98372
(843) 798-1639
Added: Jun 15
Changed: Aug 19
Last Checked: Sep 5 at 2:06PM
MLS# 2615335
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 offering includes three income-producing rental properties with a combined property size of 3,927 square feet. Built in 1946, the assets are currently occupied and provide a triplex-oriented residential income configuration in a single package.
The properties are located at 510 Sycamore St. in downtown Conway, South Carolina, near shopping, restaurants, entertainment, and everyday necessities. Their central setting places the rental homes within an established area of tenant-serving amenities and local services.
The properties are located at 510 Sycamore St. in downtown Conway, South Carolina, near shopping, restaurants, entertainment, and everyday necessities. Their central setting places the rental homes within an established area of tenant-serving amenities and local services.
Key Highlights
- Three income‑producing rental properties offered together
- Currently occupied rental properties
- Combined property size of 3,927 square feet
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
$40,112
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
5.35%
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%
$802,240
$802.2K
Cap Rate 7%
$573,029
$573.0K
Cap Rate 9%
$445,689
$445.7K
Market Conditions
NOI Build-Up for 3,927 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
$60.3K $15.36/SF
− Vacancy
−$3.0K −$0.77/SF
EGI
$57.3K $14.59/SF
− OpEx
−$17.2K −$4.38/SF
NOI
$40.1K $10.21/SF
Area
Horry County, SC
Vacancy
5.00%
Lease Rate
$15.36 /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%
$802,240
Cap Rate 7%
$573,029
Cap Rate 9%
$445,689
Alternative Uses
Best Use
Multifamily LT 5
$573.0K
$501.4K – $668.5K
NOI $40,112 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$517.9K
$453.1K – $604.2K
NOI $36,251 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$995.3K
$870.9K – $1.16M
NOI $69,668 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 29526, SC
51,403
Population
20,301
Households
2.5
Avg Household Size
40
Median Age
23%
College-Educated
89%
High-School Grad
175.0 sq mi
ZIP Area
294
Density / Sq Mi
$66,490
Median Household Income
$28,341
Median Earnings
$943
Median Rent
$232,100
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?
Triplex - Three occupied rental properties offer an established multifamily configuration near shopping, dining, entertainment, and daily necessities.
Where is this triplex located?
The property is located at 510 Sycamore St. Conway, SC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three income‑producing rental properties offered together; Currently occupied rental properties; Combined property size of 3,927 square feet
