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    811 Seaboard St Myrtle Beach, SC 29577

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    For Sale
    Contact for pricing

    11,250 SF Commercial Lot, $195K

    Property size:
    11,250 SF

    Property Features for 811 Seaboard St

    General Information

    Property type
    Land
    Square Feet
    11,250 SF

    We can help!

    Listing Contact
    Jacinda Wright
    Jacinda Wright

    Listing Agency: CENTURY 21 Broadhurst Listing Agent: Jacinda Wright

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 11,250 square foot commercial lot is located at 811 Seaboard St., Myrtle Beach, SC 29577, in Horry County. Currently operating as an established bachata restaurant and grill specializing in authentic Dominican cuisine, this property presents a unique investment opportunity. The restaurant boasts extended hours of operation, running from 11 AM to 8 PM Tuesday through Sunday for lunch and dinner service, with the bar remaining open until 2 AM. The vibrant bar scene and ample space for live music, including bands and DJs, create a lively atmosphere perfect for attracting a diverse clientele. Regular bachata nights and other themed entertainment events further enhance the venue's appeal. The restaurant enjoys a strategic location in a high-traffic area, ensuring excellent visibility and accessibility for both walk-in and targeted customers. This well-established business has cultivated a loyal local following and possesses significant growth potential through expanded catering services, private event hosting, and increased marketing initiatives. The property's size and existing infrastructure provide a solid foundation for continued success and future expansion within the thriving Myrtle Beach market. The asking price for this unique commercial property is $195,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bachata Caribbean Bar ... Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Nail Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9023377
    Latitude
    33.7097449

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    FAQs

    What type of property is this?
    Land - 11,250 SF Commercial Lot, $195K
    Where is this land located?
    The property is located at 811 Seaboard St Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: 11,250 SF commercial lot at 811 Seaboard St., Myrtle Beach, SC 29577.; Established bachata restaurant and grill with extended hours (11 AM - 8 PM Tue-Sun, bar until 2 AM).; High-traffic location offering excellent visibility and accessibility.
    (843) 504-6949 Call to check price and availability
    Request Owner's contact information
    811 Seaboard St Myrtle Beach, SC 29577
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    Myrtle Beach, SC 29577
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    811 Seaboard St Myrtle Beach, SC 29577
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jacinda Wright
    Jacinda Wright
    Real Estate License ID: 89742
    (843) 504-6949 (843) 448-7169
    Learn more
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