Industrial Warehouse and Flex
For Sale
Contact for pricing
3835 Socastee Blvd, Myrtle Beach, SC 29588
Industrial warehouse and flex space totaling 15,000 sq. ft. available for sale.
Property Size15,000 SF
Price / SF$96.67
Days on Market160
Property Features for 3835 Socastee Blvd
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Industrial, Mixed Use, Office
Lease Type
NNN
Listing Agency:
HB Springs Co. Commercial Real Estate
Listed By:
Van Davenport · License #SC
Source:
Crexi
Added: Mar 31
Changed: Aug 16
Last Checked: Sep 4 at 9:55PM
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 HB Springs Co. Commercial Real Estate
Investment Insights
Based on property information with market context.
This property is an industrial warehouse and flex space with a total size of 15,000 sq. ft. It is being offered for sale.
The asset is located at 3835 Socastee Blvd in Myrtle Beach, SC, and presents an industrial configuration intended to support both warehousing and flexible space needs.
Offered as a single property, it is listed as an industrial warehouse within the overall flex and industrial property type mix.
The asset is located at 3835 Socastee Blvd in Myrtle Beach, SC, and presents an industrial configuration intended to support both warehousing and flexible space needs.
Offered as a single property, it is listed as an industrial warehouse within the overall flex and industrial property type mix.
Key Highlights
- Industrial warehouse and flex space totaling 15,000 sq. ft.
- 15,000 sq. ft. industrial space available for sale
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
$98,195
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
6.77%
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%
$1,963,900
$2.0M
Cap Rate 7%
$1,402,786
$1.4M
Cap Rate 9%
$1,091,056
$1.1M
Market Conditions
NOI Build-Up for 15,000 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
$160.2K $10.68/SF
− Vacancy
−$9.1K −$0.61/SF
EGI
$151.1K $10.07/SF
− OpEx
−$52.9K −$3.52/SF
NOI
$98.2K $6.55/SF
Area
Horry County, SC
Vacancy
5.70%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
35.00%
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%
$1,963,900
Cap Rate 7%
$1,402,786
Cap Rate 9%
$1,091,056
Alternative Uses
Best Use
Warehouse
$3.34M
$2.92M – $3.90M
NOI $233,732 @ 7.0% cap · market cap 16.12%
Second Best
Industrial
$2.75M
$2.41M – $3.21M
NOI $192,485 @ 7.0% cap · market cap 13.27%
Theoretical Best
Office A
$3.80M
$3.33M – $4.44M
NOI $266,112 @ 7.0% cap · market cap 18.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29588, SC
48,113
Population
22,223
Households
2.2
Avg Household Size
45
Median Age
26%
College-Educated
92%
High-School Grad
42.0 sq mi
ZIP Area
1,146
Density / Sq Mi
$66,854
Median Household Income
$34,518
Median Earnings
$1,220
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial warehouse and flex space totaling 15,000 sq. ft. available for sale.
Where is this flex space located?
The property is located at 3835 Socastee Blvd Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Industrial warehouse and flex space totaling 15,000 sq. ft.; 15,000 sq. ft. industrial space available for sale
