Frontage Flex
For Sale
$3,750,000
3005 N Highway 17 Bypass, Myrtle Beach, SC 29577
Flex property with office and warehouse areas, central air, and a loading dock.
Property Size24,000 SF
Lot Size1.92 Acres
Price / SF$150
Days on Market130
Property Features for 3005 N Highway 17 Bypass
General Information
Standard status
Active
Size
24,000 SF
Lot size
1.92 Acres
Zoning
HC
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
18,000 SF
Office Build-Out
7,500 SF
Dock-High Doors
1
Amenities
Active
Office, Warehouse
Professional/Office, Warehouse
88
no
Office
One
yes
1
24000
Central Air
Central
Drive-In Doors, Kitchen Facilities, Loading Dock, Office, Private Restrooms, Public Restrooms
Public Sewer
Estimated
200 x 433 x 200 x 433
Brick Veneer, Block, Metal Siding
Building Details
Building Size
24,000 SF
Buildings
1
Listing Agency:
BHHS Myrtle Beach Real Estate
(843) 315-3444
Listed By:
Betty Robey · License #62718
(843) 315-3444
Source:
Saltwatergrande.idxbroker
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 30 at 1:10PM
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 BHHS Myrtle Beach Real Estate
Investment Insights
Based on property information with market context.
This flex-space property includes a 25,000-square-foot building on 1.92 acres, with dedicated office and warehouse areas arranged for varied commercial functions. Central air serves the building, and a loading dock supports goods movement and warehouse operations.
The property occupies 400 feet of direct frontage along Highway 17 Bypass at 3005 N Highway 17 Bypass in Myrtle Beach, South Carolina. Its site dimensions are identified as 200 x 433 x 200 x 433, providing a substantial commercial footprint along the highway corridor.
The property occupies 400 feet of direct frontage along Highway 17 Bypass at 3005 N Highway 17 Bypass in Myrtle Beach, South Carolina. Its site dimensions are identified as 200 x 433 x 200 x 433, providing a substantial commercial footprint along the highway corridor.
Key Highlights
- 25,000‑square‑foot building on 1.92 acres
- 400 feet of direct Hwy 17 frontage
- Office and warehouse areas within the building
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
$320,809
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
8.55%
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%
$6,416,180
$6.4M
Cap Rate 7%
$4,582,986
$4.6M
Cap Rate 9%
$3,564,544
$3.6M
Market Conditions
NOI Build-Up for 25,000 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
$486.0K $19.44/SF
− Vacancy
−$27.7K −$1.11/SF
EGI
$458.3K $18.33/SF
− OpEx
−$137.5K −$5.50/SF
NOI
$320.8K $12.83/SF
Area
Horry County, SC
Vacancy
5.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
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%
$6,416,180
Cap Rate 7%
$4,582,986
Cap Rate 9%
$3,564,544
Alternative Uses
Best Use
Warehouse
$5.57M
$4.87M – $6.49M
NOI $389,553 @ 7.0% cap · market cap 10.39%
Second Best
Industrial
$4.58M
$4.01M – $5.35M
NOI $320,809 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$6.34M
$5.54M – $7.39M
NOI $443,520 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
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?
Flex space - Flex property with office and warehouse areas, central air, and a loading dock.
Where is this flex space located?
The property is located at 3005 N Highway 17 Bypass Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 25,000‑square‑foot building on 1.92 acres; 400 feet of direct Hwy 17 frontage; Office and warehouse areas within the building
