Highway 17 Retail Strip
For Sale
Contact for pricing
12078 Highway 17 Byp N, Murrells Inlet, SC 29576
10,800 SF retail strip center in Murrells Inlet, SC.
Property Size10,800 SF
Price / SF$207.41
Days on Market188
Property Features for 12078 Highway 17 Byp N
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Retail
Zoning
HC
Building Details
Year Built
2003
Listing Agency:
Sands Investment Group Los Angeles
Listed By:
Claire Brazzel · License #127885
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 8 at 2:50PM
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 Sands Investment Group Los Angeles
Investment Insights
Based on property information with market context.
The Highway 17 Retail Strip Center is a 10,800 square foot commercial property located at 12078 Highway 17 Bypass N in Murrells Inlet, South Carolina. This property presents a value-add opportunity for NOI growth through base rent increases and the conversion of leases to Triple Net (NNN) Leases, which would reduce landlord expenses and enhance long-term cash flow. The property is offered at an attractive basis below replacement cost at $207.41 per square foot, providing downside protection and a compelling entry point in a supply-constrained coastal market. This property is for sale.
Key Highlights
- 10,800 SF Retail Strip Center
- Located on Highway 17 Bypass N
- Value‑add opportunity with NOI growth potential through rent increases and NNN lease conversions
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
$157,445
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
7.03%
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%
$3,148,900
$3.1M
Cap Rate 7%
$2,249,214
$2.2M
Cap Rate 9%
$1,749,389
$1.7M
Market Conditions
NOI Build-Up for 10,800 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
$230.7K $21.36/SF
− Vacancy
−$5.8K −$0.53/SF
EGI
$224.9K $20.83/SF
− OpEx
−$67.5K −$6.25/SF
NOI
$157.4K $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%
$3,148,900
Cap Rate 7%
$2,249,214
Cap Rate 9%
$1,749,389
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.62M
NOI $157,445 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.19M
NOI $191,601 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
188k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 31%
Home Improvements & Furnishings 23%
Shops & Services 20%
Groceries 16%
The Home Depot
Home Improvements & Furnishings
40,113 visits/mo
0.3 miles
Walmart Neighborhood Market
Groceries
30,313 visits/mo
0.2 miles
Cracker Barrel Old Country Store
Dining
14,870 visits/mo
0.4 miles
Belk
Apparel
14,635 visits/mo
0.3 miles
Wendy's
Dining
14,050 visits/mo
0.3 miles
Demographics for 29576, SC
32,476
Population
22,097
Households
1.5
Avg Household Size
61
Median Age
32%
College-Educated
96%
High-School Grad
30.5 sq mi
ZIP Area
1,065
Density / Sq Mi
$70,343
Median Household Income
$36,352
Median Earnings
$1,467
Median Rent
$315,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - 10,800 SF retail strip center in Murrells Inlet, SC.
Where is this strip mall located?
The property is located at 12078 Highway 17 Byp N Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $2,240,000.
What are key features of this property?
This property features: 10,800 SF Retail Strip Center; Located on Highway 17 Bypass N; Value‑add opportunity with NOI growth potential through rent increases and NNN lease conversions
