Building Details

Building Size 1,726 SF

Year Built 1930

Year Renovated 2023

Buildings 1

Listing Agency: Tradd Commercial | Myrtle Beach

Listed By: Chris Chapman Show Phone

Source: Traddcommercial

Added: Aug 30 Changed: Oct 6 Last Checked: Oct 14 at 8:07PM

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Investment Insights

Based on property information with market context.

This 1,726-square-foot storefront property in Loris, South Carolina, is configured as a retail building within an established retail strip center. The interior has been substantially updated with new flooring, electrical improvements, and additional renovations that refresh the customer-facing and operational areas.

A new roof was installed in 2023, and the property also includes a new HVAC unit. Built in 1930, the building combines its original construction date with recent system and finish upgrades. The property serves a ZIP code with more than 17,000 residents and is presented as a fit for an owner-user or investor seeking a renovated retail asset.

Key Highlights

• 1,726 SF retail building in Loris, SC
• New roof installed in 2023
• New HVAC unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,162

Cap Rate

7.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$503,240 $503.2K

Cap Rate 7%

$359,457 $359.5K

Cap Rate 9%

$279,578 $279.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,726 SF

Gross rent

$36.9K $21.36/SF

− Vacancy

−$922 −$0.53/SF

EGI

$35.9K $20.83/SF

− OpEx

−$10.8K −$6.25/SF

NOI

$25.2K $14.58/SF

Area

Horry County, SC

Vacancy

2.50%

Lease Rate

$21.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$503,240

Cap Rate 7%

$359,457

Cap Rate 9%

$279,578

Alternative Uses

Best Use

Retail

$359.5K

$314.5K – $419.4K (±1% cap)

NOI $25,162 @ 7.0% cap · market cap 7.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$437.4K

$382.8K – $510.4K (±1% cap)

NOI $30,621 @ 7.0% cap · market cap 9.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Trophy Shop (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Electrical Service Furniture & Home Goods Plumbing Service (Bike/Boat/Book/etc) Store Bakery Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

669

Businesses Nearby

75k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 43% Shops & Services 34% Groceries 16% Home Improvements & Furnishings 5%

Bojangles' Famous Chicken 'n Biscuits Dining

15,248 visits/mo 0.1 miles

Dollar Tree Shops & Services

9,602 visits/mo 0.2 miles

Loris IGA Groceries

9,456 visits/mo 0.5 miles

Hardee's Dining

9,092 visits/mo 0.1 miles

Sunoco Shops & Services

5,459 visits/mo 0.1 miles

Demographics for 29569, SC

17,048

Population

7,504

Households

2.3

Avg Household Size

45

Median Age

10%

College-Educated

82%

High-School Grad

170.3 sq mi

ZIP Area

100

Density / Sq Mi

$50,659

Median Household Income

$34,719

Median Earnings

$776

Median Rent

$190,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Updated electrical, HVAC, flooring, and roofing create a refreshed commercial space within an established retail strip center.

Where is this storefront property located?

The property is located at 4004 Railroad Ave Loris, SC.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1,726 SF retail building in Loris, SC; New roof installed in 2023; New HVAC unit