Office Suite with Private
New
For Sale
$139,900
618 Chestnut Rd., Myrtle Beach, SC 29572
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size555 SF
Lot Size0.44 Acres
Price / SF$252.07
Days on Market1
Property Features for 618 Chestnut Rd.
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
HC
Exterior features
Restrooms - Private
Subdivision
16A Myrtle Beach Area--Briarcliffe
Standard status
Active
Size
555 SF
Lot size
0.44 Acres
Building Details
Floors in Building
1
Number of units
1
Listing Agency:
Keller Williams The Forturro Group · Keller Williams Realty
(843) 443-9400
Listed By:
Jeff Forman · License #111037
(843) 902-4325
Added: Sep 25
Last Checked: Sep 25 at 8:06PM
MLS# 2623732
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.
Suite 204 is a 555-square-foot office on the building’s second floor. Its plan includes a reception area, three offices, and a private restroom. Generous windows bring in natural light, while 10-foot ceilings add vertical space. Two staircases provide access to the suite, and the property is zoned HC.
The office is just off Highway 17, with access to Highways 31 and 22. Other businesses in the building include an architect, accountant, landscaping company, home care provider, real estate firms, and property management firms, creating a mix of professional and service uses within the property.
The office is just off Highway 17, with access to Highways 31 and 22. Other businesses in the building include an architect, accountant, landscaping company, home care provider, real estate firms, and property management firms, creating a mix of professional and service uses within the property.
Key Highlights
- 555‑square‑foot second‑floor office suite with reception area and three offices
- Private restroom within the suite
- 10‑foot ceilings and generous windows
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
$6,793
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
4.86%
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%
$135,860
$135.9K
Cap Rate 7%
$97,043
$97.0K
Cap Rate 9%
$75,478
$75.5K
Market Conditions
NOI Build-Up for 555 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
$10.7K $19.20/SF
− Vacancy
−$1.6K −$2.88/SF
EGI
$9.1K $16.32/SF
− OpEx
−$2.3K −$4.08/SF
NOI
$6.8K $12.24/SF
Area
Horry County, SC
Vacancy
15.00%
Lease Rate
$19.20 /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%
$135,860
Cap Rate 7%
$97,043
Cap Rate 9%
$75,478
Alternative Uses
Best Use
Office B
$97.0K
$84.9K – $113.2K
NOI $6,793 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$140.7K
$123.1K – $164.1K
NOI $9,846 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 29572, SC
10,711
Population
14,313
Households
0.7
Avg Household Size
57
Median Age
43%
College-Educated
95%
High-School Grad
8.9 sq mi
ZIP Area
1,203
Density / Sq Mi
$75,388
Median Household Income
$36,121
Median Earnings
$1,148
Median Rent
$385,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - A three-office layout pairs a reception area with natural light from generous windows.
Where is this office units located?
The property is located at 618 Chestnut Rd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 555‑square‑foot second‑floor office suite with reception area and three offices; Private restroom within the suite; 10‑foot ceilings and generous windows
