4-Bay Automotive Service
For Sale
$625,000
1108 Legion St, Myrtle Beach, SC 29577
MUM-zoned facility with office space, service bays, lifts, and front and rear parking.
Property Size3,360 SF
Days on Market89
Property Features for 1108 Legion St
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Retail
Zoning
MUM
Additional Details
Business Included
Yes
Service Bays
4
Amenities
office reception area
restrooms
Building Details
Building Size
3,360 SF
Year Built
1991
Listing Agency:
NAI | Charleston
(843) 637-1974
Listed By:
Scott P. Peevy, CCIM · License #81438
Source:
Naicharleston
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 6:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI | Charleston
Investment Insights
Based on property information with market context.
This operational automotive service property includes four service bays, an office and reception area, two restrooms, and three operable vehicle lifts. The building also offers a small warehouse component and a flexible layout that can support automotive service or other service-oriented users.
The property is located in downtown Myrtle Beach, a few blocks from Ocean Boulevard and near hotel and resort activity. Parking is available at both the front and rear of the building. Constructed in 1991, the facility carries MUM (Mixed-Use Medium Density) zoning.
The property is located in downtown Myrtle Beach, a few blocks from Ocean Boulevard and near hotel and resort activity. Parking is available at both the front and rear of the building. Constructed in 1991, the facility carries MUM (Mixed-Use Medium Density) zoning.
Key Highlights
- Operational automotive service center with 4 bays
- 3 operable lifts included
- Office and reception area with 2 restrooms
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
$48,983
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
7.84%
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%
$979,660
$979.7K
Cap Rate 7%
$699,757
$699.8K
Cap Rate 9%
$544,256
$544.3K
Market Conditions
NOI Build-Up for 3,360 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
$71.8K $21.36/SF
− Vacancy
−$1.8K −$0.53/SF
EGI
$70.0K $20.83/SF
− OpEx
−$21.0K −$6.25/SF
NOI
$49.0K $14.58/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$21.36 /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%
$979,660
Cap Rate 7%
$699,757
Cap Rate 9%
$544,256
Alternative Uses
Best Use
Retail
$699.8K
$612.3K – $816.4K
NOI $48,983 @ 7.0% cap · market cap 7.84%
Second Best
Industrial
$616.0K
$539.0K – $718.6K
NOI $43,117 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$851.6K
$745.1K – $993.5K
NOI $59,609 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,650
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - MUM-zoned facility with office space, service bays, lifts, and front and rear parking.
Where is this auto shop located?
The property is located at 1108 Legion St Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Operational automotive service center with 4 bays; 3 operable lifts included; Office and reception area with 2 restrooms
