Remodeled Freestanding Retail
New
For Sale
$1,695,000
508 North Kings Highway, Myrtle Beach, SC 29577
Two separately configured suites can operate independently or connect as a larger storefront.
Property Size5,400 SF
Lot Size0.46 Acres
Price / SF$313.89
Days on Market2
Property Features for 508 North Kings Highway
General Information
Standard status
Active
Size
5,400 SF
Lot size
0.46 Acres
Property subtype
Retail
Zoning
MU-H
Additional Details
Road Access
Yes
Building Details
Building Size
5,400 SF
Year Built
1986
Buildings
1
Listing Agency:
Keystone Realty MB, LLC.
Listed By:
Curry Martin · License #SC #62256
(843) 957-5961
Source:
Keystonecommercial
Added: Sep 26
Last Checked: Sep 26 at 3:21PM
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.
The freestanding retail property contains 5,400± square feet across Unit A, with 3,000± square feet, and Unit B, with 2,400± square feet. The suites may be used separately or combined. Unit A has an updated interior, and improvements include a new roof, two new 5-ton HVAC units, exterior work, paint, and awnings. Construction documents are available upon request.
Located on North Kings Highway in Myrtle Beach, the property has two curb cuts for access and roadside signage. The site encompasses 0.46± acres and is zoned MU-H.
Located on North Kings Highway in Myrtle Beach, the property has two curb cuts for access and roadside signage. The site encompasses 0.46± acres and is zoned MU-H.
Key Highlights
- 5,400± SF building on 0.46± acres
- Unit A: 3,000± SF; Unit B: 2,400± SF; suites can be combined
- Two new 5‑ton HVAC units and a new roof
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
1,370
Businesses Nearby
60k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 30%
Hotels & Casinos 11%
Home Improvements & Furnishings 1%
Olive Garden
Dining
13,192 visits/mo
0.5 miles
Taco Bell
Dining
10,216 visits/mo
0.4 miles
Circle K
Shops & Services
7,947 visits/mo
0.3 miles
Holiday Inn at the Pavilion
Hotels & Casinos
6,827 visits/mo
0.3 miles
Starbucks
Dining
5,567 visits/mo
0.4 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 - Two separately configured suites can operate independently or connect as a larger storefront.
Where is this storefront property located?
The property is located at 508 North Kings Highway 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: 5,400± SF building on 0.46± acres; Unit A: 3,000± SF; Unit B: 2,400± SF; suites can be combined; Two new 5‑ton HVAC units and a new roof
