Freestanding Medical Office
New
For Sale
$435,000
162 Waccamaw Medical Park Ct., Conway, SC 29526
COMMERCIAL/INDUSTRIAL, Conway, SC
Property Size2,100 SF
Lot Size0.05 Acres
Price / SF$207.14
Days on Market2
Property Features for 162 Waccamaw Medical Park Ct.
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
HC
Exterior features
220-Volt Power, Restrooms - Private
Subdivision
21E Conway central--East edge of Conway / north & south of 501
Standard status
Active
Size
2,100 SF
Lot size
0.05 Acres
Building Details
Floors in Building
1
Number of units
1
Listing Agency:
H. B. Springs Co. Real Estate
(843) 448-7653
Listed By:
Ken Marlowe
(843) 902-3325
Added: Sep 16
Last Checked: Sep 17 at 12:06AM
MLS# 2622865
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 freestanding medical office property contains 2,100 square feet on a 0.05-acre lot and includes private restrooms and 220-volt power. The building is positioned within Waccamaw Medical Park, an established professional setting adjacent to Conway Medical Center.
The property offers convenient access to US Hwy 501 and SC Hwy 544 in Conway, South Carolina. Its configuration is suited to physician, dental, medical-service, and other professional office uses, providing a focused setting for occupiers serving the surrounding medical and professional community.
The property offers convenient access to US Hwy 501 and SC Hwy 544 in Conway, South Carolina. Its configuration is suited to physician, dental, medical-service, and other professional office uses, providing a focused setting for occupiers serving the surrounding medical and professional community.
Key Highlights
- 2,100‑square‑foot freestanding medical office building
- Located in Waccamaw Medical Park
- Adjacent to Conway Medical Center
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
$31,400
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
7.22%
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%
$628,000
$628.0K
Cap Rate 7%
$448,571
$448.6K
Cap Rate 9%
$348,889
$348.9K
Market Conditions
NOI Build-Up for 2,100 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
$53.7K $25.56/SF
− Vacancy
−$1.3K −$0.64/SF
EGI
$52.3K $24.92/SF
− OpEx
−$20.9K −$9.97/SF
NOI
$31.4K $14.95/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
40.00%
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%
$628,000
Cap Rate 7%
$448,571
Cap Rate 9%
$348,889
Alternative Uses
Best Use
Healthcare Medical
$448.6K
$392.5K – $523.3K
NOI $31,400 @ 7.0% cap · market cap 7.22%
Second Best
Office B
$367.2K
$321.3K – $428.4K
NOI $25,704 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$532.2K
$465.7K – $620.9K
NOI $37,256 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
692
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
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Established medical park setting with private restrooms and 220-volt power.
Where is this medical office space located?
The property is located at 162 Waccamaw Medical Park Ct. Conway, SC.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 2,100‑square‑foot freestanding medical office building; Located in Waccamaw Medical Park; Adjacent to Conway Medical Center
