Restaurant with Outdoor
For Sale
$2,500,000
801 Hwy 17 S, North Myrtle Beach, SC 29582
COMMERCIAL/INDUSTRIAL, North Myrtle Beach, SC
Property Size7,254 SF
Lot Size1.75 Acres
Price / SF$344.64
Days on Market104
Property Features for 801 Hwy 17 S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC
Security features
Security System
Exterior features
Display Windows, Fire Alarm, Fixtures/Furniture, Inside Storage, Kitchen Facility, Machinery Included, Office(s), Reception Area, Restrooms - Private, Restrooms - Public, Security System, Sign, Sprinkler System
Subdivision
11B North Myrtle Beach Area--Ocean Drive
Standard status
Active
Size
7,254 SF
Lot size
1.75 Acres
Building Details
Floors in Building
1
Number of units
1
Additional Structures
Storage
Listing Agency:
Realty ONE Group Dockside
(843) 492-4030
Listed By:
Eleonora Nora Rumbaugh · License #115323
(843) 267-6134
Added: May 15
Changed: Aug 19
Last Checked: Aug 26 at 8:06AM
MLS# 2612613
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 restaurant property occupies approximately 1.75 acres and includes a commercial kitchen, expansive dining room, oversized bar area, outdoor patio with fireplace, office space, storage, private and public restrooms, display windows, security, fire protection, and included fixtures and machinery. The layout provides seating for approximately 231 guests and includes 124 parking spots.
The property fronts 185 feet on 8th Ave S and Highway 17, with reported exposure to approximately 45,300 vehicles per day. It is less than half a mile from Main Street in North Myrtle Beach and under three-quarters of a mile from Ocean Boulevard and the beach. The site is identified as HC zoning and includes a sign and sprinkler system.
The property fronts 185 feet on 8th Ave S and Highway 17, with reported exposure to approximately 45,300 vehicles per day. It is less than half a mile from Main Street in North Myrtle Beach and under three-quarters of a mile from Ocean Boulevard and the beach. The site is identified as HC zoning and includes a sign and sprinkler system.
Key Highlights
- 7,254 square feet of restaurant property on approximately 1.75 acres
- Approximately 231 seats and 124 parking spots
- 185 feet of frontage on 8th Ave S and Highway 17
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
$119,669
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
4.79%
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%
$2,393,380
$2.4M
Cap Rate 7%
$1,709,557
$1.7M
Cap Rate 9%
$1,329,656
$1.3M
Market Conditions
NOI Build-Up for 7,254 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
$163.7K $22.56/SF
− Vacancy
−$4.1K −$0.56/SF
EGI
$159.6K $22.00/SF
− OpEx
−$39.9K −$5.50/SF
NOI
$119.7K $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%
$2,393,380
Cap Rate 7%
$1,709,557
Cap Rate 9%
$1,329,656
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.50M – $1.99M
NOI $119,669 @ 7.0% cap · market cap 4.79%
Second Best
Industrial
$1.33M
$1.16M – $1.55M
NOI $93,086 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,692 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
45,300 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
424k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Superstores 28%
Shops & Services 11%
Home Improvements & Furnishings 9%
Walmart
Superstores
117,860 visits/mo
0.5 miles
Chick-fil-A
Dining
39,272 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
34,519 visits/mo
0.3 miles
Food Lion Grocery Store
Groceries
26,084 visits/mo
0.2 miles
Cook Out
Dining
23,520 visits/mo
0.5 miles
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Equipped dining property with a commercial kitchen, bar area, private and public restrooms, and on-site parking.
Where is this conventional restaurant located?
The property is located at 801 Hwy 17 S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 7,254 square feet of restaurant property on approximately 1.75 acres; Approximately 231 seats and 124 parking spots; 185 feet of frontage on 8th Ave S and Highway 17
