Mixed-Use Property with Ice Cream
New
For Sale
$1,250,000
612 S Ocean Blvd., Myrtle Beach, SC 29577
Four-bedroom residential space is positioned above an equipped retail operation with the existing ice cream business included.
Property Size2,910 SF
Price / SF$429.55
Days on Market6
Property Features for 612 S Ocean Blvd.
General Information
Standard status
Active
Size
2,910 SF
Additional Details
Business Included
Yes
Listing Agency:
Fidei Real Estate Int'l LLC
Listed By:
Yana Lynch · License #72550
(843) 424-6068
Source:
Exprealty
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 15 at 2:29PM
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 Fidei Real Estate Int'l LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a four-bedroom condo with retail space on the level below. The offering includes a fully equipped ice cream shop, the existing ice cream business, and related equipment, creating an integrated residential and commercial setup at one address.
Located at 612 S Ocean Blvd. in Myrtle Beach, the property is near the ocean, attractions, dining, entertainment, and other popular destinations. The configuration supports live-work use, with residential space above an operating retail component.
Located at 612 S Ocean Blvd. in Myrtle Beach, the property is near the ocean, attractions, dining, entertainment, and other popular destinations. The configuration supports live-work use, with residential space above an operating retail component.
Key Highlights
- Four‑bedroom condo above the retail space
- Fully equipped ice cream shop included
- Existing ice cream business included with the property
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
$42,423
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
3.39%
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%
$848,460
$848.5K
Cap Rate 7%
$606,043
$606.0K
Cap Rate 9%
$471,367
$471.4K
Market Conditions
NOI Build-Up for 2,910 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
$62.2K $21.36/SF
− Vacancy
−$1.6K −$0.53/SF
EGI
$60.6K $20.83/SF
− OpEx
−$18.2K −$6.25/SF
NOI
$42.4K $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%
$848,460
Cap Rate 7%
$606,043
Cap Rate 9%
$471,367
Alternative Uses
Best Use
Retail
$606.0K
$530.3K – $707.1K
NOI $42,423 @ 7.0% cap · market cap 3.39%
Second Best
Mixed Use
$527.5K
$461.6K – $615.5K
NOI $36,928 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$737.5K
$645.3K – $860.4K
NOI $51,626 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
411
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-bedroom residential space is positioned above an equipped retail operation with the existing ice cream business included.
Where is this mixed-use property located?
The property is located at 612 S Ocean Blvd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four‑bedroom condo above the retail space; Fully equipped ice cream shop included; Existing ice cream business included with the property
