Office Suite with Three
For Sale
$139,900
204-618 Chestnut Rd, Myrtle Beach, SC 29572
The second-floor space has a reception area, private restroom, and access by two staircases.
Property Size555 SF
Price / SF$252.07
Days on Market12
Property Features for 204-618 Chestnut Rd
General Information
Standard status
Active
Size
555 SF
Additional Details
Floor
2
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams The Forturro Group
(843) 443-9400
Listed By:
Jeff Forman · License #111037
(843) 902-4325
Source:
Exprealty
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 7:32PM
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 Keller Williams The Forturro Group
Investment Insights
Based on property information with market context.
Suite 204 is a second-floor office unit with a reception area, three offices, and a private restroom. Ten-foot ceilings and windows provide ceiling height and natural light. Two staircases serve the suite, located at 618 Chestnut Rd in Myrtle Beach.
The property is just off Highway 17, with access to Highways 31 and 22. Other building occupants include firms in architecture, accounting, landscaping, home care, real estate, and property management.
The property is just off Highway 17, with access to Highways 31 and 22. Other building occupants include firms in architecture, accounting, landscaping, home care, real estate, and property management.
Key Highlights
- Three offices, a reception area, and a private restroom
- 10‑foot ceilings and windows bringing natural light into the suite
- Second‑floor Suite 204, accessible by two staircases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,793
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$135,860
$135.9K
Cap Rate 7%
$97,043
$97.0K
Cap Rate 9%
$75,478
$75.5K
Market Conditions
NOI Build-Up for 555 SF
Gross rent
$10.7K $19.20/SF
− Vacancy
−$1.6K −$2.88/SF
EGI
$9.1K $16.32/SF
− OpEx
−$2.3K −$4.08/SF
NOI
$6.8K $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 Rate 5%
$135,860
Cap Rate 7%
$97,043
Cap Rate 9%
$75,478
Alternative Uses
Best Use
Office B
$97.0K
$84.9K – $113.2K
NOI $6,793 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$140.7K
$123.1K – $164.1K
NOI $9,846 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 29572, SC
10,711
Population
14,313
Households
0.7
Avg Household Size
57
Median Age
43%
College-Educated
95%
High-School Grad
8.9 sq mi
ZIP Area
1,203
Density / Sq Mi
$75,388
Median Household Income
$36,121
Median Earnings
$1,148
Median Rent
$385,100
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 units - The second-floor space has a reception area, private restroom, and access by two staircases.
Where is this office units located?
The property is located at 204-618 Chestnut Rd Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Three offices, a reception area, and a private restroom; 10‑foot ceilings and windows bringing natural light into the suite; Second‑floor Suite 204, accessible by two staircases
