Listing Agency: Secure Home Finder Team at LPT Realty Show Phone

Listed By: Michael Shank · License #26073 Show Phone

Source: Edgarwilson

Added: Aug 17 Changed: Oct 10 Last Checked: Oct 14 at 11:05PM

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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 Secure Home Finder Team at LPT Realty

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Investment Insights

Based on property information with market context.

The property comprises a 4,000-square-foot warehouse unit at 489 Myrtle Ridge Dr. in Conway, South Carolina. It is located just off 501 and next to VINES Heating & Cooling, providing a defined warehouse setting within the Conway market.

Key Highlights

• 4,000 SF warehouse unit
• Located just off 501
• Next to VINES Heating & Cooling

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,329

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,246,580 $1.2M

Cap Rate 7%

$890,414 $890.4K

Cap Rate 9%

$692,544 $692.5K

What to ask about pricing

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$77.8K $19.44/SF

− Vacancy

−$4.4K −$1.11/SF

EGI

$73.3K $18.33/SF

− OpEx

−$11.0K −$2.75/SF

NOI

$62.3K $15.58/SF

Area

Horry County, SC

Vacancy

5.70%

Lease Rate

$19.44 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,246,580

Cap Rate 7%

$890,414

Cap Rate 9%

$692,544

Alternative Uses

Best Use

Warehouse

$890.4K

$779.1K – $1.04M (±1% cap)

NOI $62,329 @ 7.0% cap · market cap 445,207.14%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.01M

$887.0K – $1.18M (±1% cap)

NOI $70,963 @ 7.0% cap · market cap 506,878.57%

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

Property Analytics

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Current Use

Vines Restoration Plumbing ... Plumbing Service

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Hair Salon Spa & Massage Center Building Supply

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

54

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

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 Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Commercial space positioned just off 501 beside VINES Heating & Cooling.

Where is this warehouse located?

The property is located at 489 Myrtle Ridge Dr. Conway, SC.

What are key features of this property?

This property features: 4,000 SF warehouse unit; Located just off 501; Next to VINES Heating & Cooling