9-Unit Flex Space
New
For Sale
$3,700,000
1717 4th Avenue, Conway, SC 29527
Highway Commercial-zoned property with parking, signage, and a sale-leaseback arrangement with the current owner.
Property Size21,050 SF
Price / SF$175.77
Days on Market2
Property Features for 1717 4th Avenue
General Information
Standard status
Active
Size
21,050 SF
Property subtype
Industrial
Zoning
Highway Commercial
Occupancy
92%
Additional Details
Cap Rate
7.5%
Building Details
Building Size
21,050 SF
Year Built
1994
Buildings
1
Tenancy
Multi
Listing Agency:
Tradd Commercial
Listed By:
Heyes Goldfinch, CCIM · License #SC #98422
(843) 222-2523
Source:
Traddcommercial
Added: Sep 4
Last Checked: Sep 4 at 2:26PM
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 Tradd Commercial
Investment Insights
Based on property information with market context.
Located at 1717 4th Avenue in Conway, South Carolina, this 21,050 SF flex space building contains 9 units and was constructed in 1994. The property is zoned for Highway Commercial use and includes abundant parking along with new signage. Its current occupancy is 92%, and the offering includes a sale-leaseback arrangement with the current owner.
The building is positioned within the Grand Strand MSA area and provides a multi-unit format for industrial and flex-space operations. A 7.5% cap rate is associated with the offering.
The building is positioned within the Grand Strand MSA area and provides a multi-unit format for industrial and flex-space operations. A 7.5% cap rate is associated with the offering.
Key Highlights
- 21,050 SF flex space property with 9 units
- Constructed in 1994
- 92% current occupancy
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
$328,004
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
8.86%
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%
$6,560,080
$6.6M
Cap Rate 7%
$4,685,771
$4.7M
Cap Rate 9%
$3,644,489
$3.6M
Market Conditions
NOI Build-Up for 21,050 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
$409.2K $19.44/SF
− Vacancy
−$23.3K −$1.11/SF
EGI
$385.9K $18.33/SF
− OpEx
−$57.9K −$2.75/SF
NOI
$328.0K $15.58/SF
Area
Horry County, SC
Vacancy
5.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
15.00%
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%
$6,560,080
Cap Rate 7%
$4,685,771
Cap Rate 9%
$3,644,489
Alternative Uses
Best Use
Warehouse
$4.69M
$4.10M – $5.47M
NOI $328,004 @ 7.0% cap · market cap 8.86%
Second Best
Industrial
$3.86M
$3.38M – $4.50M
NOI $270,121 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$5.33M
$4.67M – $6.22M
NOI $373,444 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
92%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29527, SC
26,343
Population
11,447
Households
2.3
Avg Household Size
42
Median Age
14%
College-Educated
86%
High-School Grad
155.1 sq mi
ZIP Area
170
Density / Sq Mi
$53,078
Median Household Income
$32,294
Median Earnings
$962
Median Rent
$197,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Highway Commercial-zoned property with parking, signage, and a sale-leaseback arrangement with the current owner.
Where is this flex space located?
The property is located at 1717 4th Avenue Conway, SC.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 21,050 SF flex space property with 9 units; Constructed in 1994; 92% current occupancy
