High-Visibility Office
New
For Sale
$2,500,000
200 Rodeo Dr., Myrtle Beach, SC 29579
COMMERCIAL - Myrtle Beach, SC
Property Size11,078 SF
Lot Size2.31 Acres
Price / SF$225.67
Days on Market2
Property Features for 200 Rodeo Dr.
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
HC
Security features
Security System
Exterior features
Security System, Office(s), Reception Area, Kitchen Facility, Restrooms - Public, Sign, Handicap Access
Accessibility
Accessible Approach with Ramp
Subdivision
24A Myrtle Beach Area--south of 501 between West Ferry & Burcale
Standard status
Active
Size
11,078 SF
Lot size
2.31 Acres
Amenities
reception area
conference room
private offices
open workspace
showroom/flex areas
kitchenette
restrooms
storage
utility/IT rooms
Building Details
Floors in Building
1
Number of units
1
Listing Agency:
Garden City Realty, Inc
(843) 651-0900
Listed By:
Kendall Edge · License #120493
(843) 904-2664
Added: Aug 7
Last Checked: Aug 8 at 12:06PM
MLS# 2619565
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 office building is configured for a range of professional operations, with a reception area, conference room, private offices, open workspace, showroom and flex areas, kitchenette, restrooms, storage, and utility/IT rooms. Additional features include a security system, signage, handicap access, and an accessible approach with ramp.
The property encompasses 2.31 acres along Highway 501, with 335 feet of highway frontage, signalized access, and 90+ parking spaces. HC zoning identifies the site as Highway Commercial. Access to Highways 501 and 31 places the property within a commercial corridor surrounded by ongoing residential and commercial growth in Horry County.
The property encompasses 2.31 acres along Highway 501, with 335 feet of highway frontage, signalized access, and 90+ parking spaces. HC zoning identifies the site as Highway Commercial. Access to Highways 501 and 31 places the property within a commercial corridor surrounded by ongoing residential and commercial growth in Horry County.
Key Highlights
- 2.31‑acre office property with 335 feet of Highway 501 frontage
- Signalized highway access and 90+ parking spaces
- HC zoning for Highway Commercial use
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
$135,595
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
5.42%
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%
$2,711,900
$2.7M
Cap Rate 7%
$1,937,071
$1.9M
Cap Rate 9%
$1,506,611
$1.5M
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
$212.7K $19.20/SF
− Vacancy
−$31.9K −$2.88/SF
EGI
$180.8K $16.32/SF
− OpEx
−$45.2K −$4.08/SF
NOI
$135.6K $12.24/SF
Area
Horry County, SC
Vacancy
15.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,711,900
Cap Rate 7%
$1,937,071
Cap Rate 9%
$1,506,611
Alternative Uses
Best Use
Office B
$1.94M
$1.69M – $2.26M
NOI $135,595 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout with private rooms, open work areas, showroom space, and support facilities for varied business operations.
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: 2.31‑acre office property with 335 feet of Highway 501 frontage; Signalized highway access and 90+ parking spaces; HC zoning for Highway Commercial use
