Oceanfront Mixed-Use
For Sale
$7,500,000
606 N Ocean Blvd., Myrtle Beach, SC 29577
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size23,336 SF
Lot Size0.80 Acres
Price / SF$321.39
Days on Market152
Property Features for 606 N Ocean Blvd.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU-H Mixed
Exterior features
Elevator-Passenger, Fixtures/Furniture, Reception Area, Kitchen Facility, Restrooms - Public, Restrooms - Private, Display Windows, Sign, 220-Volt Power, 440-Volt Power, Inside Storage
Accessibility
Accessible Elevator Installed
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
23,336 SF
Lot size
0.80 Acres
Amenities
Exterior pool
Boardwalk
Beach access
Building Details
Floors in Building
3
Number of units
54
Additional Structures
Storage
Listing Agency:
Realty ONE Group Dockside
(843) 492-4030
Listed By:
Liat Edri · License #6170
(843) 222-6357
Added: Apr 29
Changed: Sep 24
Last Checked: Sep 27 at 12:06AM
MLS# 2611121
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 oceanfront mixed-use property combines a 54-unit building with street-level restaurant space that was redone in 2025. The offering also includes a separate 0.2-acre parcel at 301 7th Ave North used for parking, bringing the total land area to 0.8 acres. On-site features include an exterior pool, passenger elevator, kitchen facilities, private and public restrooms, display windows, storage, signage, and 220-volt and 440-volt power.
The property is located at 606 N. Ocean Blvd. along Myrtle Beach’s Boardwalk and Ocean Boulevard, with two beach accesses positioned on either side of the building. The surrounding area includes the Myrtle Beach SkyWheel, Ripley’s Believe It or Not, The Bowery, the Gay Dolphin, I LOVE SUGAR, and other restaurants and entertainment venues. A pizzeria operates on the property.
The property is located at 606 N. Ocean Blvd. along Myrtle Beach’s Boardwalk and Ocean Boulevard, with two beach accesses positioned on either side of the building. The surrounding area includes the Myrtle Beach SkyWheel, Ripley’s Believe It or Not, The Bowery, the Gay Dolphin, I LOVE SUGAR, and other restaurants and entertainment venues. A pizzeria operates on the property.
Key Highlights
- 54‑unit oceanfront building with street‑level restaurant space
- Restaurant space was redone in 2025
- Separate 0.2‑acre parking parcel at 301 7th Ave North
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
$384,974
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
5.13%
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%
$7,699,480
$7.7M
Cap Rate 7%
$5,499,629
$5.5M
Cap Rate 9%
$4,277,489
$4.3M
Market Conditions
NOI Build-Up for 23,336 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
$526.5K $22.56/SF
− Vacancy
−$13.2K −$0.56/SF
EGI
$513.3K $22.00/SF
− OpEx
−$128.3K −$5.50/SF
NOI
$385.0K $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 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%
$7,699,480
Cap Rate 7%
$5,499,629
Cap Rate 9%
$4,277,489
Alternative Uses
Best Use
Specialty Retail
$5.50M
$4.81M – $6.42M
NOI $384,974 @ 7.0% cap · market cap 5.13%
Second Best
Mixed Use
$4.23M
$3.70M – $4.94M
NOI $296,134 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$5.91M
$5.17M – $6.90M
NOI $413,999 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Hotels & Casinos 21%
Dining 17%
Home Improvements & Furnishings 2%
Circle K
Shops & Services
7,947 visits/mo
0.4 miles
Holiday Inn at the Pavilion
Hotels & Casinos
6,827 visits/mo
0.4 miles
Dollar General
Shops & Services
5,229 visits/mo
0.5 miles
Family Dollar
Shops & Services
2,653 visits/mo
0.4 miles
Mavis Discount Tire
Shops & Services
1,747 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?
Mixed-use property - Includes 54 units, an updated restaurant, and a separate parking parcel near Myrtle Beach’s Boardwalk.
Where is this mixed-use property located?
The property is located at 606 N Ocean Blvd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 54‑unit oceanfront building with street‑level restaurant space; Restaurant space was redone in 2025; Separate 0.2‑acre parking parcel at 301 7th Ave North
