Two-Building Medical Office
For Sale
$1,799,000
710 21st Ave. N, Myrtle Beach, SC 29577
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size9,959 SF
Lot Size0.16 Acres
Price / SF$180.64
Days on Market306
Property Features for 710 21st Ave. N
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MP
Subdivision
16F Myrtle Beach Area--10th Ave N to 29th Ave N
Standard status
Active
Size
9,959 SF
Lot size
0.16 Acres
Building Details
Floors in Building
2
Number of units
11
Listing Agency:
Keystone Realty MB, LLC
(843) 626-3400
Listed By:
Drew Langway · License ##56070
(843) 780-9354
Added: Nov 6, 2025
Changed: Aug 19
Last Checked: Sep 8 at 8:06PM
MLS# 2526814
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 office property consists of two buildings containing 9,959 square feet of medical and professional office space. The interior is divided into 11 units, creating a multi-occupant configuration within a professional office park setting. The property is zoned MP and is positioned at 710 21st Ave. N in Myrtle Beach, South Carolina.
Access to major area routes includes Hwy 17 Bypass, Robert Grissom Parkway, and North Kings Hwy. The site encompasses 0.16 acres in Horry County and carries postal code 29577. Its location within the City of Myrtle Beach places the office campus along 21st Ave. N, with the three named thoroughfares providing connections to surrounding commercial areas.
Access to major area routes includes Hwy 17 Bypass, Robert Grissom Parkway, and North Kings Hwy. The site encompasses 0.16 acres in Horry County and carries postal code 29577. Its location within the City of Myrtle Beach places the office campus along 21st Ave. N, with the three named thoroughfares providing connections to surrounding commercial areas.
Key Highlights
- 9,959 square feet of medical and professional office space
- Two‑building office park configuration
- Space divided into 11 units
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
$148,913
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
8.28%
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%
$2,978,260
$3.0M
Cap Rate 7%
$2,127,329
$2.1M
Cap Rate 9%
$1,654,589
$1.7M
Market Conditions
NOI Build-Up for 9,959 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
$254.6K $25.56/SF
− Vacancy
−$6.4K −$0.64/SF
EGI
$248.2K $24.92/SF
− OpEx
−$99.3K −$9.97/SF
NOI
$148.9K $14.95/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
40.00%
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%
$2,978,260
Cap Rate 7%
$2,127,329
Cap Rate 9%
$1,654,589
Alternative Uses
Best Use
Healthcare Medical
$2.13M
$1.86M – $2.48M
NOI $148,913 @ 7.0% cap · market cap 8.28%
Second Best
Office B
$1.74M
$1.52M – $2.03M
NOI $121,898 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,681 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Office building - Professional office property configured for medical and office users in Myrtle Beach.
Where is this office building located?
The property is located at 710 21st Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 9,959 square feet of medical and professional office space; Two‑building office park configuration; Space divided into 11 units
