Office Unit with Rear
New
For Sale
$355,000
893 Gator Ln., Murrells Inlet, SC 29576
COMMERCIAL/INDUSTRIAL, Murrells Inlet, SC
Property Size850 SF
Lot Size0.30 Acres
Price / SF$417.65
Days on Market2
Property Features for 893 Gator Ln.
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Subdivision
40A Murrells Inlet - Georgetown County
Standard status
Active
Size
850 SF
Lot size
0.30 Acres
Building Details
Floors in Building
1
Number of units
1
Listing Agency:
Keller Williams Innovate South · Keller Williams Realty
(843) 443-9400
Listed By:
Randy Wallace · License #30014
(843) 455-7200
Added: Sep 23
Last Checked: Sep 24 at 1:06AM
MLS# 2623535
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 850-square-foot office unit is configured for immediate commercial use, with a reception area, conference room, two offices, two bathrooms, and a kitchen area. The rear garage provides additional workspace or storage, while a floored storage area extends above the entire heated and cooled office section and is accessed by stairs from the garage.
The property occupies 0.3 acres at 893 Gator Ln. in Murrells Inlet, with access to Hwy 17 Bypass and a Commercial zoning designation. The existing layout supports office operations that also require enclosed rear storage or garage space. The interior may be used in its current configuration or updated with new carpet and paint.
The property occupies 0.3 acres at 893 Gator Ln. in Murrells Inlet, with access to Hwy 17 Bypass and a Commercial zoning designation. The existing layout supports office operations that also require enclosed rear storage or garage space. The interior may be used in its current configuration or updated with new carpet and paint.
Key Highlights
- 850 SF office unit on 0.3 acres
- Built‑out layout with reception area, conference room, two offices, two bathrooms, and kitchen area
- Rear garage with floored storage above the entire heated and cooled office area
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
$10,907
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
3.07%
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%
$218,140
$218.1K
Cap Rate 7%
$155,814
$155.8K
Cap Rate 9%
$121,189
$121.2K
Market Conditions
NOI Build-Up for 850 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
$16.5K $19.44/SF
− Vacancy
−$942 −$1.11/SF
EGI
$15.6K $18.33/SF
− OpEx
−$4.7K −$5.50/SF
NOI
$10.9K $12.83/SF
Area
Horry County, SC
Vacancy
5.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
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%
$218,140
Cap Rate 7%
$155,814
Cap Rate 9%
$121,189
Alternative Uses
Best Use
Industrial
$155.8K
$136.3K – $181.8K
NOI $10,907 @ 7.0% cap · market cap 3.07%
Second Best
Office B
$148.6K
$130.1K – $173.4K
NOI $10,404 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$215.4K
$188.5K – $251.3K
NOI $15,080 @ 7.0% cap · market cap 4.25%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Explore this area
Business Placement
Demographics for 29576, SC
32,476
Population
22,097
Households
1.5
Avg Household Size
61
Median Age
32%
College-Educated
96%
High-School Grad
30.5 sq mi
ZIP Area
1,065
Density / Sq Mi
$70,343
Median Household Income
$36,352
Median Earnings
$1,467
Median Rent
$315,700
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 - Commercially zoned space combines a built-out office layout with rear storage capacity.
Where is this office units located?
The property is located at 893 Gator Ln. Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 850 SF office unit on 0.3 acres; Built‑out layout with reception area, conference room, two offices, two bathrooms, and kitchen area; Rear garage with floored storage above the entire heated and cooled office area
