Myrtle Beach Office Building For
For Sale
Contact for pricing
1293 Professional Dr, Myrtle Beach, SC
Two-story office building in Myrtle Beach's Oleander Dr Office/Professional District.
Property Size10,280 SF
Lot Size0.61 Acres
Price / SF$335.60
Days on Market910
Property Features for 1293 Professional Dr
General Information
Standard status
Active
Size
10,280 SF
Lot size
0.61 Acres
Property subtype
RETAIL
Listing Agency:
Coldwell Banker Commercial Chicora
(843) 272-8700
Listed By:
John Draughn · License #8683
(843) 455-0444
Source:
Moodyscre
Added: May 3, 2024
Changed: Oct 25
Last Checked: Oct 28 at 12:23PM
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 Coldwell Banker Commercial Chicora
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in the Oleander Dr Office/Professional District, this two-story office building offers 10,040 square feet of space. The property is situated outside of Myrtle Beach city limits, falling under Horry County jurisdiction, and is zoned OPI. Suites A, B, and D are currently leased as executive office suites on short-term leases. Suite C, a 2,400-square-foot traditional office space on the ground floor, features a reception area, seven offices, a conference room, a kitchenette, a storage room, multiple storage closets, and three restrooms. The property is easily accessible via Hwy 17 Bypass or Grissom Pkwy and is close to medical, professional, retail, and high-density residential areas. The Myrtle Beach MSA is one of the fastest-growing areas in the US, with a permanent population of 68,122 within a 5-mile radius.
Key Highlights
- Premier office location in the heart of the Oleander Dr Office/Professional District.
- Located outside of Myrtle Beach city limits (Horry County jurisdiction).
- Suite C: Offers 2,400 SF of traditional office space with reception area, 7 offices, conference room, kitchenette, storage room, multiple storage closets, and 3 restrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,827
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,516,540
$2.5M
Cap Rate 7%
$1,797,529
$1.8M
Cap Rate 9%
$1,398,078
$1.4M
Market Conditions
NOI Build-Up for 10,280 SF
Gross rent
$197.4K $19.20/SF
− Vacancy
−$29.6K −$2.88/SF
EGI
$167.8K $16.32/SF
− OpEx
−$41.9K −$4.08/SF
NOI
$125.8K $12.24/SF
Area
Horry County, SC
Vacancy
15.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,516,540
Cap Rate 7%
$1,797,529
Cap Rate 9%
$1,398,078
Alternative Uses
Best Use
Office B
$1.80M
$1.57M – $2.10M
NOI $125,827 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,375 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building in Myrtle Beach's Oleander Dr Office/Professional District.
Where is this office building located?
The property is located at 1293 Professional Dr Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Premier office location in the heart of the Oleander Dr Office/Professional District.; Located outside of Myrtle Beach city limits (Horry County jurisdiction).; Suite C: Offers **2,400 SF of traditional office space** with reception area, 7 offices, conference room, kitchenette, storage room, multiple storage closets, and 3 restrooms.
