Marshfront Restaurant with
For Sale
$2,550,000
806 Sea Mountain Hwy, North Myrtle Beach, SC 29582
Multi-floor restaurant with elevator, multiple kitchens, and outdoor deck space, set on marshfront with highway frontage.
Property Size7,261 SF
Lot Size0.80 Acres
Price / SF$351.19
Days on Market382
Property Features for 806 Sea Mountain Hwy
General Information
Standard status
Active
Size
7,261 SF
Lot size
0.80 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
Yes
Cap Rate
9%
Sprinkler System
Yes
Amenities
elevator
3 bars
2 kitchens
2 stone ovens
outdoor signage with digital board
fully automated
entertainment floor
Building Details
Stories
2
Listing Agency:
Revenue Avenue
Listed By:
Terry Walden
(843) 504-4192
Source:
Exprealty
Added: Aug 21, 2025
Changed: Aug 21
Last Checked: Sep 5 at 12:55PM
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 Revenue Avenue
Investment Insights
Based on property information with market context.
This restaurant property is set up across two floors and includes an elevator for guest and staff access. Interior amenities feature three bars, two kitchens, and two stone ovens. An entertainment floor with a stage supports on-site events, and the building is equipped with a fire/sprinkler system. Outdoor signage includes a digital board described as fully automated, and the property also offers substantial deck areas.
The offering includes approximately 0.8 acres with approximately 154 +/- feet of highway frontage. The site is described as marshfront and located close to beach and tourism.
The restaurant space is listed as 7,260 +/- square feet, with an additional 3,000 square feet of deck areas, providing indoor and outdoor capacity for dining and entertainment use.
The offering includes approximately 0.8 acres with approximately 154 +/- feet of highway frontage. The site is described as marshfront and located close to beach and tourism.
The restaurant space is listed as 7,260 +/- square feet, with an additional 3,000 square feet of deck areas, providing indoor and outdoor capacity for dining and entertainment use.
Key Highlights
- 0.8‑acre restaurant property with 154 +/- SF highway frontage in Cherry Grove
- 7,260 +/- SF restaurant space plus about 3,000 SF of additional outdoor deck areas
- Marshfront setting near beach and tourism
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
$119,785
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
4.70%
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%
$2,395,700
$2.4M
Cap Rate 7%
$1,711,214
$1.7M
Cap Rate 9%
$1,330,944
$1.3M
Market Conditions
NOI Build-Up for 7,261 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
$163.8K $22.56/SF
− Vacancy
−$4.1K −$0.56/SF
EGI
$159.7K $22.00/SF
− OpEx
−$39.9K −$5.50/SF
NOI
$119.8K $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%
$2,395,700
Cap Rate 7%
$1,711,214
Cap Rate 9%
$1,330,944
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,785 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,816 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
9,366 visits/mo
0.4 miles
Circle K
Shops & Services
5,531 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multi-floor restaurant with elevator, multiple kitchens, and outdoor deck space, set on marshfront with highway frontage.
Where is this conventional restaurant located?
The property is located at 806 Sea Mountain Hwy North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 0.8‑acre restaurant property with 154 +/- SF highway frontage in Cherry Grove; 7,260 +/- SF restaurant space plus about 3,000 SF of additional outdoor deck areas; Marshfront setting near beach and tourism
