Second-Floor Office
For Sale
$139,900
618 Chestnut Rd. #204, Myrtle Beach, SC 29572
A reception area, three offices, and a private restroom provide a practical layout for professional use.
Property Size555 SF
Price / SF$252.07
Days on Market15
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Property Features for 618 Chestnut Rd. #204
General Information
Standard status
Active
Size
555 SF
Additional Details
Floor
2
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams The Forturro Group
Listed By:
Jeff Forman · License #111037
(843) 443-9400
Source:
Honorableservicerealty
Added: Oct 1
Changed: Oct 12
Last Checked: Oct 7 at 2:06PM
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 Keller Williams The Forturro Group
Investment Insights
Based on property information with market context.
Suite 204 is a 555-square-foot office on the building’s second floor. Its layout includes a reception area, three offices, and a private restroom. Windows bring natural light into the space, while 10-foot ceilings add vertical openness. Access to the suite is available by either of two staircases.
The property is just off Highway 17, with access to Highways 31 and 22. Other building tenants include an architect, accountant, landscaping company, home care provider, real estate firm, and property management firms.
The property is just off Highway 17, with access to Highways 31 and 22. Other building tenants include an architect, accountant, landscaping company, home care provider, real estate firm, and property management firms.
Key Highlights
- 555‑square‑foot office suite
- Second‑floor location with access by two staircases
- Reception area, three offices, and a private restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,793
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property 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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - A reception area, three offices, and a private restroom provide a practical layout for professional use.
Where is this office units located?
The property is located at 618 Chestnut Rd. #204 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 office suite; Second‑floor location with access by two staircases; Reception area, three offices, and a private restroom
