Two-Story Day Care
New
For Sale
$849,000
402 16th Ave. S, Myrtle Beach, SC 29577
MU-H zoning supports consideration of several commercial and residential uses, subject to city requirements and approvals.
Property Size3,400 SF
Price / SF$249.71
Days on Market2
Property Features for 402 16th Ave. S
General Information
Standard status
Active
Size
3,400 SF
Listing Agency:
RE/MAX Southern Shores
(843) 839-0200
Listed By:
Tatiana Sheffer · License #7791
(843) 655-2882
Source:
Edgarwilson
Added: Sep 29
Last Checked: Sep 30 at 11:51AM
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 RE/MAX Southern Shores
Investment Insights
Based on property information with market context.
This two-story property in Myrtle Beach is currently operated as a daycare, with approximately 3,400 heated square feet and approximately 6,000 total square feet under roof. Interior activity areas are complemented by covered porches and fenced outdoor areas with mature trees. A koi pond, garage, and separate outdoor storage building are also on the property.
The site at 402 16th Avenue South is approximately one block from the beach, between Ocean Boulevard and Business 17. Hotels, restaurants, shopping, and area attractions are nearby. The property is zoned MU-H (Mixed Use-High Density); multifamily, office, retail, salon, and bed-and-breakfast uses, as well as redevelopment, are subject to applicable city requirements and approvals.
The site at 402 16th Avenue South is approximately one block from the beach, between Ocean Boulevard and Business 17. Hotels, restaurants, shopping, and area attractions are nearby. The property is zoned MU-H (Mixed Use-High Density); multifamily, office, retail, salon, and bed-and-breakfast uses, as well as redevelopment, are subject to applicable city requirements and approvals.
Key Highlights
- Approximately 3,400 heated square feet and 6,000 total square feet under roof
- Two‑story property currently used as a daycare
- MU‑H (Mixed Use‑High Density) zoning
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
$43,146
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
5.08%
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%
$862,920
$862.9K
Cap Rate 7%
$616,371
$616.4K
Cap Rate 9%
$479,400
$479.4K
Market Conditions
NOI Build-Up for 3,400 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
$73.4K $21.60/SF
− Vacancy
−$4.4K −$1.30/SF
EGI
$69.0K $20.30/SF
− OpEx
−$25.9K −$7.61/SF
NOI
$43.1K $12.69/SF
Area
Horry County, SC
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$862,920
Cap Rate 7%
$616,371
Cap Rate 9%
$479,400
Alternative Uses
Best Use
Mixed Use
$616.4K
$539.3K – $719.1K
NOI $43,146 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,319 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
577
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
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Similar Off Market Nearby
- Wee Care Day School & Camp — 2103 Rosemary St B, Myrtle Beach, SC 29577
- Cutie Pies Daycare Center — 328 Williams St, Myrtle Beach, SC 29577
Frequently Asked Questions
What type of property is this?
Day care center - MU-H zoning supports consideration of several commercial and residential uses, subject to city requirements and approvals.
Where is this day care center located?
The property is located at 402 16th Ave. S Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Approximately 3,400 heated square feet and 6,000 total square feet under roof; Two‑story property currently used as a daycare; MU‑H (Mixed Use‑High Density) zoning
