Freestanding Two-Unit Retail
New
For Sale
$1,695,000
508 N Kings Hwy., Myrtle Beach, SC 29577
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size5,400 SF
Lot Size0.46 Acres
Price / SF$313.89
Days on Market2
Property Features for 508 N Kings Hwy.
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
MU-H
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
5,400 SF
Lot size
0.46 Acres
Amenities
road side signage
Building Details
Floors in Building
1
Number of units
2
Listing Agency:
Keystone Realty MB, LLC
(843) 626-3400
Listed By:
Curry Martin · License ##62256
(843) 957-5961
Added: Sep 24
Last Checked: Sep 25 at 2:06AM
MLS# 2623635
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.
Investment Insights
Based on property information with market context.
This freestanding retail property contains two suites: Unit A measures 3,000 square feet, while Unit B offers 2,400 square feet. The spaces can be joined for a combined 5,400 square feet. Recent work includes a roof replacement, two new 5-ton HVAC units, and other interior and exterior updates. Construction documents are available. The site encompasses 0.46 acres and is zoned MU-H.
At 508 N Kings Hwy. in Myrtle Beach, the property has two curb cuts along King's Highway and existing roadside signage.
At 508 N Kings Hwy. in Myrtle Beach, the property has two curb cuts along King's Highway and existing roadside signage.
Key Highlights
- Two retail suites: Unit A is 3,000 square feet and Unit B is 2,400 square feet
- Suites can be combined for 5,400 square feet
- 0.46‑acre site zoned MU‑H
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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Current Use
Lease Details
Multi-tenant
Tenancy
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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Frequently Asked Questions
What type of property is this?
Storefront property - The two suites can function independently or be combined into one retail space.
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 suites: Unit A is 3,000 square feet and Unit B is 2,400 square feet; Suites can be combined for 5,400 square feet; 0.46‑acre site zoned MU‑H
