Highway-Frontage Office
New
For Sale
$2,500,000
200 Rodeo Dr., Myrtle Beach, SC 29579
Highway Commercial zoning, signalized access, and multiple office and flex areas define the property.
Property Size11,078 SF
Price / SF$225.67
Days on Market3
Property Features for 200 Rodeo Dr.
General Information
Standard status
Active
Size
11,078 SF
Property subtype
Commercial
Zoning
HC
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
reception area
conference room
private offices
open workspace
showroom/flex areas
kitchenette
restrooms
storage
utility/IT rooms
Building Details
Buildings
1
Stories
1
Listing Agency:
Garden City Realty, Inc
(803) 818-5362
Listed By:
Kendall Edge (Cell
Source:
Homelandrealtygroup
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 6:00AM
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 Garden City Realty, Inc
Investment Insights
Based on property information with market context.
This 11,078-square-foot office building occupies more than 2 acres and combines a reception area, conference room, private offices, open workspace, showroom and flex areas, kitchenette, restrooms, storage, and utility and IT rooms. The layout provides a mix of enclosed and open areas for office-based operations, professional services, or medical use.
The property fronts Highway 501 for 335 feet and benefits from signalized access, with convenient connections to Highways 501 and 31. On-site parking includes more than 90 spaces. The address is 200 Rodeo Dr., Myrtle Beach, South Carolina 29579, within a commercial corridor described as experiencing continued residential and commercial growth.
The property fronts Highway 501 for 335 feet and benefits from signalized access, with convenient connections to Highways 501 and 31. On-site parking includes more than 90 spaces. The address is 200 Rodeo Dr., Myrtle Beach, South Carolina 29579, within a commercial corridor described as experiencing continued residential and commercial growth.
Key Highlights
- 11,078‑square‑foot commercial office building on more than 2 acres
- 335 feet of frontage along Highway 501
- Signalized access with connections to Highways 501 and 31
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
$165,645
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
6.63%
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%
$3,312,900
$3.3M
Cap Rate 7%
$2,366,357
$2.4M
Cap Rate 9%
$1,840,500
$1.8M
Market Conditions
NOI Build-Up for 11,078 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
$283.2K $25.56/SF
− Vacancy
−$7.1K −$0.64/SF
EGI
$276.1K $24.92/SF
− OpEx
−$110.4K −$9.97/SF
NOI
$165.6K $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%
$3,312,900
Cap Rate 7%
$2,366,357
Cap Rate 9%
$1,840,500
Alternative Uses
Best Use
Healthcare Medical
$2.37M
$2.07M – $2.76M
NOI $165,645 @ 7.0% cap · market cap 6.63%
Second Best
Industrial
$2.03M
$1.78M – $2.37M
NOI $142,157 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,533 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 29579, SC
50,378
Population
24,320
Households
2.1
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
53.0 sq mi
ZIP Area
951
Density / Sq Mi
$72,909
Median Household Income
$39,175
Median Earnings
$1,466
Median Rent
$320,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Highway Commercial zoning, signalized access, and multiple office and flex areas define the property.
Where is this office building located?
The property is located at 200 Rodeo Dr. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 11,078‑square‑foot commercial office building on more than 2 acres; 335 feet of frontage along Highway 501; Signalized access with connections to Highways 501 and 31
