Building Details

Building Size 13,320 SF

Year Built 1936

Buildings 2

Listing Agency: Tradd Commercial | Myrtle Beach

Listed By: Adam Cates, CCIM, SIOR · License #60056 Show Phone

Source: Traddcommercial

Added: Sep 7 Changed: Oct 21 Last Checked: Oct 23 at 5:24AM

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Investment Insights

Based on property information with market context.

This offering combines 408 Main Street with the former Carolina Theater in Downtown Conway, South Carolina. The Main Street building contains 4,800 square feet across 4 units and is identified as a mixed-use property with frontage along Main Street. A second building measures 8,520 square feet and is associated with the former theater property.

The assets are located within Conway’s Central Business District. The property information reports 2.9 million visitors since August 2025, providing documented visitor activity for the downtown setting. The principal structures date to 1936.

Key Highlights

• 4,800 SF, 4‑unit mixed‑use building
• 8,520 SF building included in the offering
• Former Carolina Theater included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$194,182

Cap Rate

8.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,883,640 $3.9M

Cap Rate 7%

$2,774,029 $2.8M

Cap Rate 9%

$2,157,578 $2.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,320 SF

Gross rent

$284.5K $21.36/SF

− Vacancy

−$7.1K −$0.53/SF

EGI

$277.4K $20.83/SF

− OpEx

−$83.2K −$6.25/SF

NOI

$194.2K $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%

$3,883,640

Cap Rate 7%

$2,774,029

Cap Rate 9%

$2,157,578

Alternative Uses

Best Use

Retail

$2.77M

$2.43M – $3.24M (±1% cap)

NOI $194,182 @ 7.0% cap · market cap 8.09%

Second Best

Mixed Use

$2.41M

$2.11M – $2.82M (±1% cap)

NOI $169,031 @ 7.0% cap · market cap 7.04%

Theoretical Best

Office A

$3.38M

$2.95M – $3.94M (±1% cap)

NOI $236,307 @ 7.0% cap · market cap 9.85%

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

Property Analytics

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Open Analytics

Current Use

Interactivity Digital Advertising Agency

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Parking Lot & Garage Skin Care Clinic Grocery & Convenience Store Gym & Fitness Center

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

966

Businesses Nearby

13k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

South State Bank Shops & Services

5,419 visits/mo 0.1 miles

Wells Fargo Shops & Services

4,538 visits/mo 0.4 miles

Napa Auto Parts Shops & Services

3,164 visits/mo 0.5 miles

Demographics for 29526, SC

51,403

Population

20,301

Households

2.5

Avg Household Size

40

Median Age

23%

College-Educated

89%

High-School Grad

175.0 sq mi

ZIP Area

294

Density / Sq Mi

$66,490

Median Household Income

$28,341

Median Earnings

$943

Median Rent

$232,100

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?

Mixed-use property - Two downtown buildings combine Main Street frontage with a former theater property.

Where is this mixed-use property located?

The property is located at 408 North Main Street Conway, SC.

What is the asking price?

The asking price for this property is $2,400,000.

What are key features of this property?

This property features: 4,800 SF, 4‑unit mixed‑use building; 8,520 SF building included in the offering; Former Carolina Theater included