Listing Agency: East Coast Investments s***@brokershawn.com Show Phone

Listed By: Marzena Grabara · License #78918 Show Phone

Source: Exprealty

Added: Jul 18 Changed: Oct 11 Last Checked: Oct 15 at 5:04AM

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Investment Insights

Based on property information with market context.

This 3,855-square-foot commercial building is configured for use by one or two tenants. The property is fenced and gated, includes four bathrooms, and occupies a large lot with parking space. Its prior use as a restaurant supports consideration of restaurant, retail, wedding venue, or flex-space applications, subject to verification of applicable city requirements.

The building has almost 120 feet of frontage along Highway 501 and sits next to a traffic light. Highways 701, 378, and 905 are nearby, and the property is within city limits. Zoning permits many uses, providing flexibility for an owner-user or commercial occupant evaluating the site.

Key Highlights

• 3,855 SF commercial building configured for single- or double‑tenant use
• Almost 120 feet of Highway 501 frontage beside a traffic light
• Fenced and gated property within city limits

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,596

Cap Rate

7.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,271,920 $1.3M

Cap Rate 7%

$908,514 $908.5K

Cap Rate 9%

$706,622 $706.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,855 SF

Gross rent

$87.0K $22.56/SF

− Vacancy

−$2.2K −$0.56/SF

EGI

$84.8K $22.00/SF

− OpEx

−$21.2K −$5.50/SF

NOI

$63.6K $16.50/SF

Area

Horry County, SC

Vacancy

2.50%

Lease Rate

$22.56 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,271,920

Cap Rate 7%

$908,514

Cap Rate 9%

$706,622

Alternative Uses

Best Use

Specialty Retail

$908.5K

$795.0K – $1.06M (±1% cap)

NOI $63,596 @ 7.0% cap · market cap 7.27%

Second Best

Retail

$802.8K

$702.5K – $936.7K (±1% cap)

NOI $56,199 @ 7.0% cap · market cap 6.42%

Theoretical Best

Office A

$977.0K

$854.9K – $1.14M (±1% cap)

NOI $68,391 @ 7.0% cap · market cap 7.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

TM Studios (Bike/Boat/Book/etc) Store Southern Trade Furniture Furniture & Home Goods

Suggested Use

Top Pick Parking Lot & Garage Skin Care Clinic Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Building Supply Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

620

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 29526, SC

51,403

Population

20,301

Households

2.5

Avg Household Size

40

Median Age

23%

College-Educated

89%

High-School Grad

175.0 sq mi

ZIP Area

294

Density / Sq Mi

$66,490

Median Household Income

$28,341

Median Earnings

$943

Median Rent

$232,100

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Fenced, multi-tenant commercial building with four bathrooms and zoning that permits many uses.

Where is this flex space located?

The property is located at 603 Church St Conway, SC.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: 3,855 SF commercial building configured for single- or double‑tenant use; Almost 120 feet of Highway 501 frontage beside a traffic light; Fenced and gated property within city limits