Listing Agency: Fidei Real Estate Int'l

Listed By: Yana Lynch · License #72550 Show Phone

Source: Exprealty

Added: May 5 Changed: Oct 11 Last Checked: Oct 15 at 5:00AM

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Investment Insights

Based on property information with market context.

This flex space includes 7,000 +/- square feet positioned on a 0.43-acre corner lot. The property combines adaptable commercial space with secure storage capacity, offering a practical configuration for businesses seeking room for operations and inventory. Highway Commercial zoning adds a defined commercial-use framework, while three-way access provides multiple entry points to the site.

Located at 1510 3rd Avenue in Conway, the property fronts a high-traffic roadway and benefits from its corner positioning. The site is designed around accessibility, visibility, and storage functionality, with the location and access characteristics supporting a range of commercial business requirements.

Key Highlights

• 7,000 +/- square feet of flex space
• 0.43‑acre corner lot
• Highway Commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,824

Cap Rate

5.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$916,480 $916.5K

Cap Rate 7%

$654,629 $654.6K

Cap Rate 9%

$509,156 $509.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$74.8K $10.68/SF

− Vacancy

−$4.3K −$0.61/SF

EGI

$70.5K $10.07/SF

− OpEx

−$24.7K −$3.52/SF

NOI

$45.8K $6.55/SF

Area

Horry County, SC

Vacancy

5.70%

Lease Rate

$10.68 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$916,480

Cap Rate 7%

$654,629

Cap Rate 9%

$509,156

Alternative Uses

Best Use

Warehouse

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $109,075 @ 7.0% cap · market cap 12.27%

Second Best

Industrial

$1.28M

$1.12M – $1.50M (±1% cap)

NOI $89,826 @ 7.0% cap · market cap 10.10%

Theoretical Best

Office A

$1.77M

$1.55M – $2.07M (±1% cap)

NOI $124,186 @ 7.0% cap · market cap 13.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conway Cleaners (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Parking Lot & Garage Skin Care Clinic Gym & Fitness Center Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,074

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 29526, SC

51,403

Population

20,301

Households

2.5

Avg Household Size

40

Median Age

23%

College-Educated

89%

High-School Grad

175.0 sq mi

ZIP Area

294

Density / Sq Mi

$66,490

Median Household Income

$28,341

Median Earnings

$943

Median Rent

$232,100

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Highway Commercial zoning and three-way access support flexible business and secure storage needs.

Where is this flex space located?

The property is located at 1510 3rd Ave Conway, SC.

What is the asking price?

The asking price for this property is $889,000.

What are key features of this property?

This property features: 7,000 +/- square feet of flex space; 0.43‑acre corner lot; Highway Commercial zoning