Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    502 E 3rd Ave. S North Myrtle Beach, SC 29582

    View on Map
    Claim this Listing
    For Sale
    $399,900

    Residential Lot - North Myrtle Beach, SC

    Type:Single Family Residence
    Lot size:
    0.20 Acres
    Added:
    Mar 6, 2026
    Days on Market:
    55
    Last Refresh:
    Apr 30 at 12:06 pm

    Property Features for 502 E 3rd Ave. S

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    R1
    Standard status
    Active
    Lot size
    0.20 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michael King

    Listing agent Michael King

    Listing office KingOne Properties 9713 N. Kings Hwy, Myrtle Beach, SC

    Listing date Mar 6, 2026

    MLS# 2605971 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.

    Overview

    Premier Homesite in Coveted Location

    This residential lot presents a rare opportunity to claim a premier homesite in North Myrtle Beach, SC. The property's elevation places it among the highest points in the area. McLean Park, featuring a lake, walking trails, tennis courts, a ball field, and playgrounds, is located nearby. The white sandy beaches and blue Atlantic waters are a short walk away. Dining and shopping options are within walking distance, and Main Street hosts summer concerts and festivals. This location supports full-time residency, part-time beach living, or investment property. There is no HOA, offering freedom to design and manage a coastal retreat. The property is located in the 29582 postal code area of Horry County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Real Estate Agency Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    North Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.678885
    Latitude
    33.8218622

    Nearby Similar for Sale

    • $950,000

      Commercial Lot Near Barefoot Resort

      Commercial lot with high traffic near Barefoot Resort and Golf.
      1004 Windy Hill Rd., North Myrtle Beach, SC 29582
      View Details
    • $649,900

      Prime Commercial Lot Opportunity

      One-acre commercial lot in desirable Ocean Drive, North Myrtle Beach.
      1327 Half Moon Ct., North Myrtle Beach, SC 29582
      View Details
    • $759,500

      Cabin-Style Triplex Near Beach

      Turnkey investment property with strong rental history in coastal location.
      509 Hillside Dr. S, North Myrtle Beach, SC 29582
      View Details
    • $319,000

      Tidewater Plantation Double Lot

      Residential lot in gated community with golf course views.
      1310 Spinnaker Dr., North Myrtle Beach, SC 29582
      View Details
    • $479,950

      Turnkey Airbnb Duplex Near Beach

      North Myrtle Beach duplex, ideal for short-term rental or investment.
      2419 Hilton Dr., North Myrtle Beach, SC 29582
      View Details
    • $869,000

      North Myrtle Beach Duplex

      Duplex near attractions, dining, shopping, and the beach.
      401 25th Ave. S, North Myrtle Beach, SC 29582
      View Details
    • $795,000

      Renovated Duplex Near Beach

      North Myrtle Beach duplex with pool, fully furnished, walk to beach.
      508 33rd Ave. S, North Myrtle Beach, SC 29582
      View Details
    • $949,900

      North Myrtle Beach Coastal Duplex

      Desirable North Myrtle Beach duplex, steps from the ocean.
      1904 S Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $450,000

      North Myrtle Beach Duplex Opportunity

      Versatile duplex in Cherry Grove, moments from the Atlantic Ocean.
      304 23rd Ave. N, North Myrtle Beach, SC 29582
      View Details
    • $875,000

      North Myrtle Beach Duplex Investment

      Second-row duplex with ocean views and strong rental potential.
      1202 S Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $1,960,000
      4,774 SF

      Versatile Coastal Property with Ocean Views

      Two homes on commercially zoned lot with income potential.
      2004/2006 S Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $825,000

      Crescent Beach Multifamily Investment Opportunity

      Rare opportunity: three buildings, eight units, one block from the ocean.
      300 21st Ave. S, North Myrtle Beach, SC 29582
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Rare opportunity to build your dream home near the beach.
    Where is this residential land & home lot located?
    The property is located at 502 E 3rd Ave. S North Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Premier location in North Myrtle Beach, close to beaches, dining, and shopping.; High elevation protects against flooding and offers enhanced security.; No HOA, providing freedom to customize and manage the property.
    (843) 497-9100
    We can help!
    Listing Contact
    Michael King
    Real Estate License ID: 16395
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!