Brick Medical Office
For Sale
$1,899,000
116 Professional Park Dr., Conway, SC 29526
Configured for clinical operations with exam rooms, private offices, laboratory, and dedicated computer-room HVAC.
Property Size3,988 SF
Price / SF$476.18
Days on Market47
Property Features for 116 Professional Park Dr.
General Information
Standard status
Active
Size
3,988 SF
Total Parking Spaces
25
Building Details
Construction
brick
Listing Agency:
Carolina Strand Realty
(843) 945-9006
Listed By:
Brandon Brookshire · License #4212
(843) 458-8551
Source:
Edgarwilson
Added: Sep 13
Changed: Oct 25
Last Checked: Oct 28 at 8:20AM
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 Carolina Strand Realty
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Investment Insights
Based on property information with market context.
This 3,988-square-foot medical office space features new brick construction and a clinical layout suited to outpatient operations. The interior includes 9 exam rooms, 3 private offices, a reception and lobby area, a medical technician workspace, laboratory and computer rooms, dedicated HVAC for the computer room, and 3 bathrooms. The property also provides 25 parking spaces.
Located at 116 Professional Park Dr. in Conway, the office is next to Conway Medical Center, Coastal Carolina University, and Horry-Georgetown Technical College. The surrounding setting also benefits from high daily traffic counts, supporting convenient access for patients, staff, and visitors.
Located at 116 Professional Park Dr. in Conway, the office is next to Conway Medical Center, Coastal Carolina University, and Horry-Georgetown Technical College. The surrounding setting also benefits from high daily traffic counts, supporting convenient access for patients, staff, and visitors.
Key Highlights
- 3,988 SF medical office space in new brick construction
- 9 exam rooms, 3 private offices, reception area, and lobby
- Medical technician workspace, laboratory room, and computer room with dedicated HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,631
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,192,620
$1.2M
Cap Rate 7%
$851,871
$851.9K
Cap Rate 9%
$662,567
$662.6K
Market Conditions
NOI Build-Up for 3,988 SF
Gross rent
$101.9K $25.56/SF
− Vacancy
−$2.5K −$0.64/SF
EGI
$99.4K $24.92/SF
− OpEx
−$39.8K −$9.97/SF
NOI
$59.6K $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 Rate 5%
$1,192,620
Cap Rate 7%
$851,871
Cap Rate 9%
$662,567
Alternative Uses
Best Use
Healthcare Medical
$851.9K
$745.4K – $993.9K
NOI $59,631 @ 7.0% cap · market cap 3.14%
Second Best
Office B
$697.3K
$610.2K – $813.6K
NOI $48,813 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.01M
$884.4K – $1.18M
NOI $70,750 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Meadowlawn Animal Services — 2350 US-501, Conway, SC 29526
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for clinical operations with exam rooms, private offices, laboratory, and dedicated computer-room HVAC.
Where is this medical office space located?
The property is located at 116 Professional Park Dr. Conway, SC.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 3,988 SF medical office space in new brick construction; 9 exam rooms, 3 private offices, reception area, and lobby; Medical technician workspace, laboratory room, and computer room with dedicated HVAC
