Medical Office with Dental
New
For Sale
Contact for pricing
1947 Glenns Bay Road, Surfside Beach, SC 29575
Existing clinical configuration includes operatories, orthodontic bays, a laboratory, and patient reception areas.
Property Size2,776 SF
Price / SF$210
Days on Market7
Property Features for 1947 Glenns Bay Road
General Information
Standard status
Active
Size
2,776 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Tradd Commercial, LLC Myrtle Beach
Listed By:
Adam Cates, CCIM, SIOR · License #SC 60056
(843) 839-9777
Source:
Crexi
Added: Sep 5
Changed: Sep 10
Last Checked: Sep 11 at 5:37AM
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, LLC Myrtle Beach
Investment Insights
Based on property information with market context.
This 2,776-square-foot medical office building on Glenns Bay Road includes an established clinical layout suited to dental, periodontic, or endodontic operations. The interior provides a lobby, reception area, administrative office, physician office, consultation room, two restrooms, five operatories, three orthodontic bays, a laboratory, kitchen, and two storage closets. Infrastructure is already in place for these practice types.
The property is in Surfside Beach, within a submarket described as having more than 108,000 residents reachable within 15 minutes. Glenns Bay Road, Surfside Drive, and Holmestown Road connect the site with Highways 17 Business, 17 Bypass, and 707, while access extends toward populations along Highway 31 and in Myrtle Beach.
The property is in Surfside Beach, within a submarket described as having more than 108,000 residents reachable within 15 minutes. Glenns Bay Road, Surfside Drive, and Holmestown Road connect the site with Highways 17 Business, 17 Bypass, and 707, while access extends toward populations along Highway 31 and in Myrtle Beach.
Key Highlights
- 2,776‑square‑foot medical office building fronting Glenns Bay Road
- Buildout includes 5 operatories, 3 ortho bays, and a lab
- Interior provides lobby, reception, administrative and doctor offices
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
$41,508
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
7.12%
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%
$830,160
$830.2K
Cap Rate 7%
$592,971
$593.0K
Cap Rate 9%
$461,200
$461.2K
Market Conditions
NOI Build-Up for 2,776 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
$71.0K $25.56/SF
− Vacancy
−$1.8K −$0.64/SF
EGI
$69.2K $24.92/SF
− OpEx
−$27.7K −$9.97/SF
NOI
$41.5K $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%
$830,160
Cap Rate 7%
$592,971
Cap Rate 9%
$461,200
Alternative Uses
Best Use
Healthcare Medical
$593.0K
$518.9K – $691.8K
NOI $41,508 @ 7.0% cap · market cap 7.12%
Second Best
Office B
$485.4K
$424.7K – $566.3K
NOI $33,978 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$703.5K
$615.6K – $820.8K
NOI $49,248 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29575, SC
18,135
Population
16,761
Households
1.1
Avg Household Size
57
Median Age
33%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$72,029
Median Household Income
$38,182
Median Earnings
$1,234
Median Rent
$278,800
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical configuration includes operatories, orthodontic bays, a laboratory, and patient reception areas.
Where is this medical office space located?
The property is located at 1947 Glenns Bay Road Surfside Beach, SC.
What is the asking price?
The asking price for this property is $582,960.
What are key features of this property?
This property features: 2,776‑square‑foot medical office building fronting Glenns Bay Road; Buildout includes 5 operatories, 3 ortho bays, and a lab; Interior provides lobby, reception, administrative and doctor offices
