Freestanding Retail
New
For Sale
$1,695,000
508 N Kings Hwy, Myrtle Beach, SC 29577
Two separate spaces can be combined to create a larger retail configuration.
Property Size5,400 SF
Price / SF$313.89
Days on Market7
Property Features for 508 N Kings Hwy
General Information
Standard status
Active
Size
5,400 SF
Additional Details
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
Keystone Realty MB, LLC
(843) 626-3400
Listed By:
Curry Martin · License ##62256
(843) 957-5961
Source:
Exprealty
Added: Sep 24
Changed: Sep 29
Last Checked: Sep 29 at 2:49PM
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 Keystone Realty MB, LLC
Investment Insights
Based on property information with market context.
This freestanding retail property contains two spaces: Unit A measures 3,000 square feet and has an updated interior, while Unit B offers 2,400 square feet. The spaces can be joined to provide 5,400 square feet in total. Improvements include a new roof, two 5-ton HVAC units, and other interior and exterior updates. Construction documents are available upon request.
Access is provided by two curb cuts along King’s Highway, and roadside signage is already in place. The two-space layout allows for separate occupancy or a combined configuration.
Access is provided by two curb cuts along King’s Highway, and roadside signage is already in place. The two-space layout allows for separate occupancy or a combined configuration.
Key Highlights
- Two retail spaces: Unit A is 3,000 square feet; Unit B is 2,400 square feet
- Spaces can be combined for 5,400 square feet
- New roof and two new 5‑ton HVAC units
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
$78,722
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
4.64%
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%
$1,574,440
$1.6M
Cap Rate 7%
$1,124,600
$1.1M
Cap Rate 9%
$874,689
$874.7K
Market Conditions
NOI Build-Up for 5,400 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
$115.3K $21.36/SF
− Vacancy
−$2.9K −$0.53/SF
EGI
$112.5K $20.83/SF
− OpEx
−$33.7K −$6.25/SF
NOI
$78.7K $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 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%
$1,574,440
Cap Rate 7%
$1,124,600
Cap Rate 9%
$874,689
Alternative Uses
Best Use
Retail
$1.12M
$984.0K – $1.31M
NOI $78,722 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,800 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,501
Businesses Nearby
32k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 27%
Home Improvements & Furnishings 2%
Exxon
Shops & Services
6,342 visits/mo
0.4 miles
Waffle House
Dining
5,460 visits/mo
0.3 miles
Dollar General
Shops & Services
5,229 visits/mo
0.2 miles
Sunoco
Shops & Services
3,644 visits/mo
0.4 miles
AutoZone
Shops & Services
3,551 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Two separate spaces can be combined to create a larger retail configuration.
Where is this storefront property located?
The property is located at 508 N Kings Hwy Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Two retail spaces: Unit A is 3,000 square feet; Unit B is 2,400 square feet; Spaces can be combined for 5,400 square feet; New roof and two new 5‑ton HVAC units
