Commercial Land with Existing
For Sale
$439,900
12132 Highway 905, Longs, SC 29568
COMMERCIAL/INDUSTRIAL, Longs, SC
Property Size1,750 SF
Lot Size1.85 Acres
Price / SF$251.37
Days on Market71
Property Features for 12132 Highway 905
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
FA
Subdivision
03B Loris to Longs Area--North of 9 between Loris & Longs
Standard status
Active
Size
1,750 SF
Lot size
1.85 Acres
Building Details
Floors in Building
1
Number of units
1
Listing Agency:
Sloan Realty Group
(843) 213-1346
Listed By:
Blake Sloan
(843) 222-9265
Added: Jun 27
Changed: Aug 19
Last Checked: Sep 5 at 1:06PM
MLS# 2616264
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.
Investment Insights
Based on property information with market context.
This 1.85-acre commercial land offering includes an approximately 1,750-square-foot convenience store and former gas station at 12132 Highway 905. The existing improvement provides a starting point for renovation, reuse, or redevelopment, while the site’s scale supports additional parking, expansion, or future construction. The property is zoned FA.
Positioned along Highway 905 in Longs, the parcel has road frontage and visibility from the highway. Access is available to Highways 9, 22, and 31, with North Myrtle Beach, Little River, and the Longs community identified in the surrounding area. The combination of an existing commercial structure and 1.85 acres creates a flexible land-and-improvement configuration for a range of commercial plans.
Positioned along Highway 905 in Longs, the parcel has road frontage and visibility from the highway. Access is available to Highways 9, 22, and 31, with North Myrtle Beach, Little River, and the Longs community identified in the surrounding area. The combination of an existing commercial structure and 1.85 acres creates a flexible land-and-improvement configuration for a range of commercial plans.
Key Highlights
- 1.85‑acre commercial land parcel in Longs, SC
- Approximately 1,750 square feet of existing improvements
- Existing convenience store and former gas station
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Highway-fronting parcel includes an existing convenience store and former gas station.
Where is this commercial land 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 land parcel in Longs, SC; Approximately 1,750 square feet of existing improvements; Existing convenience store and former gas station
