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    Two-Story Office Building in Myrtle Beach Title is generated by Realmo AI

    4702 Oleander Dr., Myrtle Beach, SC 29577

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    For Sale
    $2,150,000

    Office - Myrtle Beach, SC

    Type:Office
    Property size:
    9,432 SF
    Lot size:
    0.70 Acres
    Price / SF:
    $227/SF
    Added:
    May 19, 2026
    Days on Market:
    2
    Last Refresh:
    May 20 at 3:06 am

    Property Features for 4702 Oleander Dr.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    OPI
    Standard status
    Active
    Size
    9,432 SF
    Lot size
    0.70 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    18
    Building materials
    Block, Brick, Brick Veneer, Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Katharine Woodard

    Listing agent Katharine Woodard

    Listing office Circa Real Estate 4420 Oleander Dr., Myrtle Beach, SC

    Listing date May 19, 2026

    MLS# 2612896 Listing URL

    Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 100% Occupancy: Provides immediate income potential.
    • Prime Location: Central Myrtle Beach location with convenient access.
    • Well‑Maintained Building: Extensively updated and professionally maintained.
    • Flexible Floor Plan: Accommodates a wide variety of applications.
    • Ample Parking: Features 33 parking spaces.
    • Strong Curb Appeal: A well‑maintained two‑story brick office building offering approximately 9,432 SF on a 0.70‑acre lot.

    Overview

    Located in Myrtle Beach's professional and medical office corridor, the Heaton Building at 4702 Oleander Street is a two-story brick office building. The building offers approximately 9,432 square feet of space on a 0.70-acre lot. There are 33 parking spaces available. The property features 16 upstairs office units plus 2 large ground-floor suites and is currently 100% occupied. The flexible floor plan can accommodate professional, medical, legal, financial, insurance, real estate, corporate, or multi-use commercial applications. Interior features include reception and waiting areas, conference rooms, private offices, open workspace configurations, kitchen/break areas, multiple restrooms, and storage space. The property has been extensively updated and professionally maintained. Its central location provides access to Hwy 17, Grissom Parkway, Hwy 31, Myrtle Beach International Airport, hospitals, business centers, restaurants, and Broadway at the Beach. This property is suitable for investors seeking stable income or businesses looking for an office presence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Clifford H Tall ... Law Firm Coastal Shores Realty Real Estate Agency Southwest Funding Loan Service Tracey Freeman – Speaker, ... Life Coach Touch of Ge’Ana Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8614891
    Latitude
    33.7319745

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    FAQs

    What type of property is this?
    Office building - Well-maintained office building with immediate income potential in Myrtle Beach.
    Where is this office building located?
    The property is located at 4702 Oleander Dr. Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $2,150,000.
    What are key features of this property?
    This property features: 100% Occupancy: Provides immediate income potential.; Prime Location: Central Myrtle Beach location with convenient access.; Well‑Maintained Building: Extensively updated and professionally maintained.
    (843) 798-3940
    We can help!
    Listing Contact
    Katharine Woodard
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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