6-Unit Apartment
For Sale
$715,000
600 17th Ave. N, Myrtle Beach, SC 29577
MULTI-FAMILY, Myrtle Beach, SC
Property Size5,770 SF
Lot Size0.27 Acres
Price / SF$123.92
Days on Market264
Property Features for 600 17th Ave. N
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Lot features
Rectangular, East of Highway 17 Bypass, Inside City Limits
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Subdivision
16F Myrtle Beach Area--10th Ave N to 29th Ave N
Standard status
Active
Size
5,770 SF
Lot size
0.27 Acres
Utilities
Utilities
Cable Available
Building Details
Year built
1965
Number of units
6
Listing Agency:
Keller Williams The Forturro Group · Keller Williams Realty
(843) 443-9400
Listed By:
Jeff Forman · License #111037
(843) 902-4325
Added: Jan 5
Changed: Sep 24
Last Checked: Sep 26 at 12:06PM
MLS# 2600288
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.
Built in 1965, this apartment property contains 6 residential units and 5,770 square feet of rentable space. The site measures approximately 0.27 acre, and cable service is available.
The property is at 600 17th Ave. N in Myrtle Beach, within reach of the Myrtle Beach Boardwalk, Main Street, shopping, dining, and entertainment corridors.
The property is at 600 17th Ave. N in Myrtle Beach, within reach of the Myrtle Beach Boardwalk, Main Street, shopping, dining, and entertainment corridors.
Key Highlights
- 6‑unit apartment building with 5,770 square feet of rentable space
- Approximately 0.27‑acre site
- Built in 1965
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
$53,265
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
7.45%
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%
$1,065,300
$1.1M
Cap Rate 7%
$760,929
$760.9K
Cap Rate 9%
$591,833
$591.8K
Market Conditions
NOI Build-Up for 5,770 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
$101.1K $17.52/SF
− Vacancy
−$4.2K −$0.74/SF
EGI
$96.8K $16.78/SF
− OpEx
−$43.6K −$7.55/SF
NOI
$53.3K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$1,065,300
Cap Rate 7%
$760,929
Cap Rate 9%
$591,833
Alternative Uses
Best Use
Apartment 5plus
$760.9K
$665.8K – $887.8K
NOI $53,265 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,364 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,620
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - The residential unit mix is complemented by cable service available at the property.
Where is this apartment building located?
The property is located at 600 17th Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 6‑unit apartment building with 5,770 square feet of rentable space; Approximately 0.27‑acre site; Built in 1965
