Convenience Store and Former Gas
For Sale
$439,900
12132 Highway 905, Longs, SC 29568
Existing commercial improvements support renovation, reuse, or redevelopment along Highway 905.
Property Size1,750 SF
Lot Size1.85 Acres
Price / SF$251.37
Days on Market66
Property Features for 12132 Highway 905
General Information
Standard status
Active
Size
1,750 SF
Lot size
1.85 Acres
Zoning
FA
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Listing Agency:
Sloan Realty Group
(843) 222-9265
Listed By:
Blake Sloan
(843) 222-9265
Source:
Exprealty
Added: Jun 27
Changed: Aug 30
Last Checked: Aug 30 at 6:19PM
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 Sloan Realty Group
Investment Insights
Based on property information with market context.
This 1.85-acre commercial property includes an approximately 1,750-square-foot convenience store that formerly operated as a gas station. The existing structure can support renovation, conversion to another business use, or broader redevelopment of the site. FA zoning provides the stated land-use designation for the property.
Positioned along Highway 905, the site offers road frontage and visibility, with access to Highways 9, 22, and 31. North Myrtle Beach, Little River, and Longs are identified in the surrounding context. The acreage leaves room for parking, expansion, or future development, subject to applicable approvals.
Positioned along Highway 905, the site offers road frontage and visibility, with access to Highways 9, 22, and 31. North Myrtle Beach, Little River, and Longs are identified in the surrounding context. The acreage leaves room for parking, expansion, or future development, subject to applicable approvals.
Key Highlights
- 1.85‑acre commercial property at 12132 Highway 905, Longs, SC 29568
- Approximately 1,750‑square‑foot convenience store building
- Former gas station with existing commercial improvements
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
$28,870
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
6.56%
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%
$577,400
$577.4K
Cap Rate 7%
$412,429
$412.4K
Cap Rate 9%
$320,778
$320.8K
Market Conditions
NOI Build-Up for 1,750 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
$39.5K $22.56/SF
− Vacancy
−$987 −$0.56/SF
EGI
$38.5K $22.00/SF
− OpEx
−$9.6K −$5.50/SF
NOI
$28.9K $16.50/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
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%
$577,400
Cap Rate 7%
$412,429
Cap Rate 9%
$320,778
Alternative Uses
Best Use
Specialty Retail
$412.4K
$360.9K – $481.2K
NOI $28,870 @ 7.0% cap · market cap 6.56%
Second Best
Retail
$364.5K
$318.9K – $425.2K
NOI $25,512 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$443.5K
$388.1K – $517.4K
NOI $31,046 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29568, SC
15,287
Population
8,131
Households
1.9
Avg Household Size
52
Median Age
18%
College-Educated
92%
High-School Grad
89.5 sq mi
ZIP Area
171
Density / Sq Mi
$61,048
Median Household Income
$29,181
Median Earnings
$1,241
Median Rent
$234,900
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?
Grocery and convenience store - Existing commercial improvements support renovation, reuse, or redevelopment along Highway 905.
Where is this grocery and convenience store located?
The property is located at 12132 Highway 905 Longs, SC.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 1.85‑acre commercial property at 12132 Highway 905, Longs, SC 29568; Approximately 1,750‑square‑foot convenience store building; Former gas station with existing commercial improvements
