Two-Unit Duplex Near The
New
For Sale
$509,900
333 15th Ave. S, Surfside Beach, SC 29575
Single-level property with two painted units and spacious yard areas in the St. James school district.
Property Size1,897 SF
Price / SF$268.79
Days on Market4
Property Features for 333 15th Ave. S
General Information
Standard status
Active
Size
1,897 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
Sansbury Butler Properties
(843) 488-5558
Listed By:
Patrick Tole
(843) 833-1937
Source:
Pawleysislandproperties
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 21 at 6:50AM
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 Sansbury Butler Properties
Investment Insights
Based on property information with market context.
This single-level duplex contains two residential units, each offering 2 bedrooms and 1 bathroom. Both units were recently painted, and the property includes yard space suitable for outdoor activities and gardening. Built in 1974, the building contains 1,897 square feet and has no HOA.
The property is located at 333 15th Ave. S in Surfside Beach, east of 17 Business and within walking distance to the ocean. The beach is also accessible by golf cart. Nearby destinations named in the property information include Surfside Pier, The Murrells Inlet Marshwalk, Myrtle Beach State Park, Huntington Beach State Park, The Market Commons, golf courses, shopping, restaurants, and entertainment venues.
The two-unit configuration supports separate occupancy of one unit while renting the other, subject to applicable requirements.
The property is located at 333 15th Ave. S in Surfside Beach, east of 17 Business and within walking distance to the ocean. The beach is also accessible by golf cart. Nearby destinations named in the property information include Surfside Pier, The Murrells Inlet Marshwalk, Myrtle Beach State Park, Huntington Beach State Park, The Market Commons, golf courses, shopping, restaurants, and entertainment venues.
The two-unit configuration supports separate occupancy of one unit while renting the other, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 1,897 square feet on a spacious lot
- Both units recently painted
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
$19,377
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
3.80%
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%
$387,540
$387.5K
Cap Rate 7%
$276,814
$276.8K
Cap Rate 9%
$215,300
$215.3K
Market Conditions
NOI Build-Up for 1,897 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
$29.1K $15.36/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$27.7K $14.59/SF
− OpEx
−$8.3K −$4.38/SF
NOI
$19.4K $10.21/SF
Area
Horry County, SC
Vacancy
5.00%
Lease Rate
$15.36 /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%
$387,540
Cap Rate 7%
$276,814
Cap Rate 9%
$215,300
Alternative Uses
Best Use
Multifamily LT 5
$276.8K
$242.2K – $323.0K
NOI $19,377 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$250.2K
$218.9K – $291.9K
NOI $17,512 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$480.8K
$420.7K – $560.9K
NOI $33,654 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Single-level property with two painted units and spacious yard areas in the St. James school district.
Where is this duplex located?
The property is located at 333 15th Ave. S Surfside Beach, SC.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 1,897 square feet on a spacious lot; Both units recently painted
