Retail Building with Rear Roll-Up
For Sale
$525,000
533 Broadway St., Myrtle Beach, SC 29577
Building-only offering with a rear roll-up door and 2,500 heated sq ft, with a tenant currently in place.
Property Size2,500 SF
Price / SF$210
Days on Market561
Property Features for 533 Broadway St.
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Retail
Amenities
3
Handicapped Access, Extra Storage.
Building Details
Year Built
1957
Stories
1
Listing Agency:
Kaiser Real Estate Corp.
Listed By:
David Bickell · License ##RB14036294
(317) 752-4001
Source:
Xome
Added: Feb 21, 2025
Changed: Sep 3
Last Checked: Sep 4 at 2:11AM
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 Kaiser Real Estate Corp.
Investment Insights
Based on property information with market context.
This is a building-only retail opportunity with a tenant currently in place. The property contains 2,500 heated square feet and includes a roll-up door in the rear, providing direct access for deliveries and service needs.
The building is described as being located in the Historical Broadway Street District, with the future Kings Highway Corridor and the NEW Arts & Innovation District referenced in the marketing materials.
For buyers looking at a straightforward “building only” ownership structure, this asset is positioned as an income-producing retail property with existing tenancy and a functional rear roll-up door for operations.
The building is described as being located in the Historical Broadway Street District, with the future Kings Highway Corridor and the NEW Arts & Innovation District referenced in the marketing materials.
For buyers looking at a straightforward “building only” ownership structure, this asset is positioned as an income-producing retail property with existing tenancy and a functional rear roll-up door for operations.
Key Highlights
- Building‑only commercial offering with 2,500 heated SF
- Rear roll‑up door for access
- Handicapped access and extra storage included
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
$36,446
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
6.94%
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%
$728,920
$728.9K
Cap Rate 7%
$520,657
$520.7K
Cap Rate 9%
$404,956
$405.0K
Market Conditions
NOI Build-Up for 2,500 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
$53.4K $21.36/SF
− Vacancy
−$1.3K −$0.53/SF
EGI
$52.1K $20.83/SF
− OpEx
−$15.6K −$6.25/SF
NOI
$36.4K $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%
$728,920
Cap Rate 7%
$520,657
Cap Rate 9%
$404,956
Alternative Uses
Best Use
Retail
$520.7K
$455.6K – $607.4K
NOI $36,446 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$633.6K
$554.4K – $739.2K
NOI $44,352 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,521
Businesses Nearby
28k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 41%
Home Improvements & Furnishings 5%
Waffle House
Dining
5,460 visits/mo
0.4 miles
Dollar General
Shops & Services
5,229 visits/mo
0.3 miles
AutoZone
Shops & Services
3,551 visits/mo
0.2 miles
Family Dollar
Shops & Services
2,653 visits/mo
0.5 miles
China King
Dining
2,322 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Building-only offering with a rear roll-up door and 2,500 heated sq ft, with a tenant currently in place.
Where is this storefront property located?
The property is located at 533 Broadway St. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Building‑only commercial offering with 2,500 heated SF; Rear roll‑up door for access; Handicapped access and extra storage included
