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    Myrtle Beach Retail/Office Unit Title is generated by Realmo AI

    515 9th Ave N, Myrtle Beach, SC 29577

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    Retail/office unit in Myrtle Beach's Arts & Innovation District.

    Type:Retail
    Added:
    Aug 9, 2021
    Days on Market:
    1738
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 515 9th Ave N

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1950

    Spaces For Lease

    at 515 9th Ave N Contact us

    $13 /Mo

    Size
    5,000 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Adam Cates, CCIM, SIOR

    Listing agent Adam Cates, CCIM, SIOR License #SC 60056

    Listing office Tradd Commercial, LLC Myrtle Beach

    Listing date Aug 9, 2021

    Source Crexi

    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 Tradd Commercial, LLC Myrtle Beach

    HighLights

    • Located in Myrtle Beach's Arts & Innovation District, offering pedestrian connectivity to tourist areas and the North Oak Street office hub.
    • Vanilla‑shell condition allows for design flexibility for prospective tenants.
    • Fiber optic infrastructure in place, ideal for high‑bandwidth usage.
    • Abundant parking available along 9th Avenue, in a public lot, and in a parking garage.
    • Convenient access to Highway 17/North Kings Highway and Highway 501, providing easy access to inland residential areas.
    • Located next to HTC's Business Innovation Center.

    Overview

    Located on 9th Avenue North in Myrtle Beach's Arts & Innovation District, 515 9th Avenue North is a retail/office unit being delivered in vanilla-shell condition, offering design flexibility for prospective tenants. Situated next to HTC's Business Innovation Center, the site is equipped with fiber optic infrastructure to support high-bandwidth applications. The property benefits from its proximity to the signalized intersection of 9th Avenue North and North Kings Highway, facilitating pedestrian access within the Arts & Innovation District, the nearby Tourist District along Ocean Boulevard, and the North Oak Street office hub. Since the beginning of 2020, Mashburn Construction and Grand Strand Brewing Company have opened on this block. Parking is available along 9th Avenue, in a public lot behind the 9th Avenue storefronts, and in the parking garage at the corner of 9th Avenue & North Kings Highway. The location is convenient to inland residential areas, with easy access to Highway 17/North Kings Highway and Highway 501.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ESA Fitness Gym & Fitness Center Myrtle Beach Risk ... City Government Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.883486
    Latitude
    33.6944015

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    FAQs

    What type of property is this?
    Retail space - Retail/office unit in Myrtle Beach's Arts & Innovation District.
    Where is this retail space located?
    The property is located at 515 9th Ave N Myrtle Beach, SC.
    What are key features of this property?
    This property features: Located in Myrtle Beach's Arts & Innovation District, offering pedestrian connectivity to tourist areas and the North Oak Street office hub.; Vanilla‑shell condition allows for design flexibility for prospective tenants.; Fiber optic infrastructure in place, ideal for high‑bandwidth usage.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Adam Cates, CCIM, SIOR
    Real Estate License ID: SC 60056
    Learn More
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    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.

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