Corner Flex Space with
For Sale
$974,900
1510 3rd Ave, Conway, SC 29526
Highway Commercial zoning and three-way access support flexible business and secure storage needs.
Property Size7,000 SF
Lot Size0.43 Acres
Price / SF$139.27
Days on Market118
Property Features for 1510 3rd Ave
General Information
Standard status
Active
Size
7,000 SF
Lot size
0.43 Acres
Zoning
Highway Commercial
Additional Details
Road Access
Yes
Listing Agency:
Fidei Real Estate Int'l
(843) 424-6068
Listed By:
Yana Lynch · License #72550
(843) 424-6068
Source:
Exprealty
Added: May 5
Changed: Aug 30
Last Checked: Jul 4 at 3:51PM
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 Fidei Real Estate Int'l
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.
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 = 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
$45,824
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
4.70%
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%
$916,480
$916.5K
Cap Rate 7%
$654,629
$654.6K
Cap Rate 9%
$509,156
$509.2K
Market Conditions
NOI Build-Up for 7,000 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
$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 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%
$916,480
Cap Rate 7%
$654,629
Cap Rate 9%
$509,156
Alternative Uses
Best Use
Warehouse
$1.56M
$1.36M – $1.82M
NOI $109,075 @ 7.0% cap · market cap 11.19%
Second Best
Industrial
$1.28M
$1.12M – $1.50M
NOI $89,826 @ 7.0% cap · market cap 9.21%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,186 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- A Coffee Movement - Mobile Coffee Van — 949 2nd Ave, Conway, SC 29527
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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 $974,900.
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
