Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Development Ready Outparcel in Myrtle Beach Title is generated by Realmo AI

    1028 Glenforest Rd., Myrtle Beach, SC 29579

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $95,000

    COMMERCIAL - Myrtle Beach, SC

    Lot size:
    1.17 Acres
    Added:
    Oct 13, 2023
    Days on Market:
    952
    Last Refresh:
    May 21 at 3:06 pm

    Property Features for 1028 Glenforest Rd.

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    HC
    Standard status
    Active
    Lot size
    1.17 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Ryan Earnest

    Listing agent Ryan Earnest License #SC 78139

    Listing office Keystone Realty MB, LLC Myrtle Beach, SC

    Listing date Oct 13, 2023

    MLS# 2528835

    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.

    HighLights

    • Direct frontage on U.S. Highway 501
    • Benefit from the high traffic count (ADT greater than 50,000).
    • Development‑ready outparcel to Carolina Forest Square Shopping Center.
    • Easy access from Highway 501 via deceleration lane and right in‑right out onto Orchard Drive.
    • Located in Carolina Forest, one of the fastest‑growing communities in the state.
    • Proximity to major retailers including Publix, Ollies, KFC, Dairy Queen, Tanger Outlets, and Kroger.

    Overview

    This is an approximately 1.17-acre development-ready outparcel to the Carolina Forest Square Shopping Center. The site has direct frontage onto U.S. Highway 501 and is easily accessed from Highway 501 via a deceleration lane and right in-right out onto Orchard Drive. Neighboring retailers include Publix, Ollies, KFC, Dairy Queen, the Tanger Outlets, and Kroger. Carolina Forest is one of the fastest-growing communities in the state. This site boasts one of the highest traffic counts in the market with an ADT greater than 50,000 and is in close proximity to Highway 31.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9637927
    Latitude
    33.7552728

    Nearby Similar for Lease

    • $4,750/Mo
      4,110 SF

      Versatile Flex Space in Myrtle Beach

      Adaptable commercial space for lease in the Arts & Innovation District.
      716 8th Ave. N, Myrtle Beach, SC 29577
      View Details
    • $5,000/Mo
      2,230 SF

      Professional Office Building in Myrtle Beach

      Well-maintained office building in the heart of Myrtle Beach.
      607 19th Ave. N, Myrtle Beach, SC 29577
      View Details
    • $3,276/Mo
      1,456 SF

      Office Space in Market Common

      Professional office space in a dynamic Myrtle Beach community.
      1101 Johnson Ave., Myrtle Beach, SC 29577
      View Details
    • $3,710/Mo
      2,400 SF

      Myrtle Beach Office with Restrooms

      Office space with private executive offices and shared parking.
      2102 Cromley Circle, Myrtle Beach, SC 29577
      View Details
    • $500/Mo
      90 SF

      Private Office Space For Lease

      Move-in-ready private offices in a well-located Myrtle Beach building.
      415 79th Ave. N, Myrtle Beach, SC 29572
      View Details
    • $24,000 SF/Yr
      12,000 SF

      Class A Office Building

      Class A office building near amenities, tenants in place.
      601 21st Ave. N, Myrtle Beach, SC 29577
      View Details
    • $9,750/Mo
      4,000 SF

      Myrtle Beach Industrial Warehouse Space

      Industrial warehouse with climate control and drive-thru capability for lease.
      3720 Wesley St., Myrtle Beach, SC 29579
      View Details
    • $6,118/Mo
      2,225 SF

      Class A Office Suites Leasing

      Premium professional office suites in Myrtle Beach, available for lease.
      4559 Oleander Dr., Myrtle Beach, SC 29577
      View Details
    • $4,232/Mo
      1,539 SF

      Class A Office Suites Leasing

      Premium professional office suites available for lease in Myrtle Beach.
      4559 Oleander Dr., Myrtle Beach, SC 29577
      View Details
    • $6,118/Mo
      2,225 SF

      Class A Office Suites Leasing

      Premium professional office suites available in desirable Myrtle Beach location.
      4559 Oleander Dr., Myrtle Beach, SC 29577
      View Details
    • $4,360/Mo
      1,539 SF

      Class A Office Suites Leasing

      Premium professional office suites in a Class A development.
      4559 Oleander Dr., Myrtle Beach, SC 29577
      View Details
    • $2,080/Mo
      2,080 SF

      Prime Second-Floor Office Space

      Spacious 2,080 sq ft office suite for lease.
      4221 N Kings Hwy., Myrtle Beach, SC 29577
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.17 acre commercial land with high traffic counts.
    Where is this commercial land located?
    The property is located at 1028 Glenforest Rd. Myrtle Beach, SC.
    What is the lease rate?
    The lease rate is $95,000.
    What are key features of this property?
    This property features: Direct frontage on U.S. Highway 501; Benefit from the **high traffic count (ADT greater than 50,000)**.; Development‑ready outparcel to Carolina Forest Square Shopping Center.
    (843) 693-1305
    We can help!
    Listing Contact
    Ryan Earnest
    Real Estate License ID: SC 78139
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1028 Glenforest Rd., Myrtle Beach, SC 29579
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!