Turnkey Property in Myrtlewood
For Sale
Contact for pricing
Pending
4754 Cloisters Ln, Myrtle Beach, SC 29577
Fully furnished property ideal for short-term rentals near Myrtle Beach.
Property Size2,108 SF
Days on Market203
Property Features for 4754 Cloisters Ln
General Information
Standard status
Pending
Size
2,108 SF
Class
A
Property subtype
Hospitality, Multifamily
Investment Type
Value Add
Building Details
Year Built
2017
Buildings
1
Stories
2
Units
1
Listing Agency:
Innovate Real Estate
Listed By:
Shayne Steiner · License #130156
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Jul 25 at 9:57AM
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 Innovate Real Estate
Investment Insights
Based on property information with market context.
Located in the Cloisters at Myrtlewood community, this turnkey property is suited for short-term rental investors. It is located near the beach, championship golf, dining, shopping, and entertainment. The property features an open-concept floor plan with a living area. The kitchen includes granite countertops, stainless steel appliances, and a breakfast bar. The primary suite offers a walk-in closet and ensuite bath. There are two additional bedrooms. Additional conveniences include a dedicated laundry room and walk-in linen storage. Outdoor features include low-maintenance landscaping and a fenced patio space. This property is suited for Airbnb and VRBO use, offering occupancy potential, seasonal rate flexibility, and income opportunity. The property is move-in-ready and built to generate revenue. The property size is 2108 square feet.
Key Highlights
- Turnkey property in a highly sought‑after community, ideal for short‑term rental investors.
- Prime location: short golf cart ride to the beach and close to golf, dining, shopping, and entertainment.
- Open‑concept floor plan designed for guest experience, comfortably accommodating groups and families.
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
$19,460
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
4.47%
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%
$389,200
$389.2K
Cap Rate 7%
$278,000
$278.0K
Cap Rate 9%
$216,222
$216.2K
Market Conditions
NOI Build-Up for 2,108 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
$36.9K $17.52/SF
− Vacancy
−$1.6K −$0.74/SF
EGI
$35.4K $16.78/SF
− OpEx
−$15.9K −$7.55/SF
NOI
$19.5K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$389,200
Cap Rate 7%
$278,000
Cap Rate 9%
$216,222
Alternative Uses
Best Use
Apartment 5plus
$278.0K
$243.3K – $324.3K
NOI $19,460 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$534.3K
$467.5K – $623.3K
NOI $37,398 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Fully furnished property ideal for short-term rentals near Myrtle Beach.
Where is this short term rental property located?
The property is located at 4754 Cloisters Ln Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Turnkey property in a highly sought‑after community, ideal for short‑term rental investors.; Prime location: short golf cart ride to the beach and close to golf, dining, shopping, and entertainment.; Open‑concept floor plan designed for guest experience, comfortably accommodating groups and families.
