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    1650 Church St Conway, SC 29526

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    Retail-restaurant duplex with drive-thru, high traffic location.

    Property Features for 1650 Church St

    General Information

    Standard status
    Active

    Building Details

    Year built
    2021

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    Listing Contact
    Adam Cates, Ccim, Sior
    Source: Crexi

    Listing Agency: Tradd Commercial, LLC Myrtle Beach Listing Agent: Adam Cates, Ccim, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail-Restaurant Duplex in Conway

    Celebration Square is a 12,135 square foot retail-restaurant duplex constructed in 2021. It is located at the signalized corner of Church Street/Highway 501 and Mill Pond Road in Conway. The property is divided into 3 units. McAlister’s Deli occupies one unit, having signed a 15-year lease in 2021. SGA Dental will open in Spring 2026. One unit, offering 2,353 square feet, is currently vacant. The property features drive-thru availability. Triple-lane ingress/egress from Church Street/501 and double lane ingress/egress on Mill Pond Road facilitate traffic flow at this high-traffic intersection. The location at the corner of Church Street/Highway 501, a major traffic artery of the Grand Strand, and Mill Pond Road, a secondary thoroughfare serving as an interior beltway around Conway’s Central Business District, contributes to the property's accessibility. The submarket has experienced stability due to its role as the hub of county government services, industry, and higher education in Horry County. Conway has experienced an annual growth rate of 5.96% and has grown 22.9% since the 2020 census. Master-planned developments located off Highways 701 & 378, with connectivity via Mill Pond Road, are projected to add over 3,200 units to Conway by 2030, contributing to the over 9,000 units pending development within the immediate area.
    Location Intelligence

    Current Use by Public Records

    McAlister's Deli Take-out & Catering

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Horry
    State
    South Carolina
    Longitude
    -79.0669931
    Latitude
    33.8482569

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    FAQs

    What type of property is this?
    Retail space - Retail-restaurant duplex with drive-thru, high traffic location.
    Where is this retail space located?
    The property is located at 1650 Church St Conway, SC.
    What are key features of this property?
    This property features: - High-traffic location at the signalized corner of Church Street/Highway 501 and Mill Pond Road; - New construction (built in 2021) with modern design; - Anchored by McAlister's Deli with a 15-year lease
    Request Owner's contact information
    1650 Church St Conway, SC 29526
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    Conway, SC 29526
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1650 Church St Conway, SC 29526
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    Listing Contact
    Adam Cates, Ccim, Sior
    Real Estate License ID: 60056
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