Turn-Key Medical Office
For Sale
$345,000
923 Medical Cir, Myrtle Beach, SC 29572
Built-out medical suite with multiple exam rooms and direct rear access to nearby parking at a major medical center entrance.
Property Size1,368 SF
Price / SF$252.19
Days on Market93
Property Features for 923 Medical Cir
General Information
Standard status
Active
Size
1,368 SF
Class
C
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,368 SF
Year Built
1978
Tenancy
Single
Listing Agency:
Tradd Commercial, LLC Myrtle Beach
Listed By:
Adam Cates, CCIM, SIOR · License #60056
(843) 333-4190
Source:
Traddcommercial
Added: Jun 2
Changed: Aug 21
Last Checked: Sep 1 at 4:42PM
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 Tradd Commercial, LLC Myrtle Beach
Investment Insights
Based on property information with market context.
923 Medical Circle presents a turn-key medical office suite designed for immediate occupancy. The 1,368-square-foot space is built out with a lobby and administrative reception area, a small office with a private restroom, a lab room, a public restroom, three exam rooms, and a large office. A rear exit provides convenient access into the parking lot serving Grand Strand Regional Medical Center, supporting day-to-day patient and staff flow.
The suite is positioned along 82nd Parkway within the Medical Circle Medical Mall, located at the entrance to Grand Strand Regional Medical Center, which is noted as the largest hospital in Myrtle Beach. The property is also approximately 0.17 miles from Highway 17 Bypass. The surrounding area is described as Myrtle Beach’s medical corridor, with nearby medical and diagnostic users including Quest Diagnostic, Sexton Dental Clinic, and Carolina Health Specialists.
This offering is well suited for a single practitioner or a satellite office seeking a ready-to-use layout in an established, multi-tenant medical development at a high-profile hospital entrance. The combination of reception support, multiple exam rooms, and lab functionality provides a practical foundation for a range of outpatient healthcare uses requiring dedicated patient and administrative space.
The suite is positioned along 82nd Parkway within the Medical Circle Medical Mall, located at the entrance to Grand Strand Regional Medical Center, which is noted as the largest hospital in Myrtle Beach. The property is also approximately 0.17 miles from Highway 17 Bypass. The surrounding area is described as Myrtle Beach’s medical corridor, with nearby medical and diagnostic users including Quest Diagnostic, Sexton Dental Clinic, and Carolina Health Specialists.
This offering is well suited for a single practitioner or a satellite office seeking a ready-to-use layout in an established, multi-tenant medical development at a high-profile hospital entrance. The combination of reception support, multiple exam rooms, and lab functionality provides a practical foundation for a range of outpatient healthcare uses requiring dedicated patient and administrative space.
Key Highlights
- 1,368 SF built‑out medical office suite with lobby, administrative reception, and multiple exam rooms
- Includes 3 exam rooms plus a lab room, large office, and small office with a private restroom
- Suite has a public restroom and rear exit directly into the parking lot of Grand Strand Regional Medical Center
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
$20,455
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
5.93%
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%
$409,100
$409.1K
Cap Rate 7%
$292,214
$292.2K
Cap Rate 9%
$227,278
$227.3K
Market Conditions
NOI Build-Up for 1,368 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
$35.0K $25.56/SF
− Vacancy
−$874 −$0.64/SF
EGI
$34.1K $24.92/SF
− OpEx
−$13.6K −$9.97/SF
NOI
$20.5K $14.95/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
40.00%
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%
$409,100
Cap Rate 7%
$292,214
Cap Rate 9%
$227,278
Alternative Uses
Best Use
Healthcare Medical
$292.2K
$255.7K – $340.9K
NOI $20,455 @ 7.0% cap · market cap 5.93%
Second Best
Office B
$239.2K
$209.3K – $279.1K
NOI $16,744 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$346.7K
$303.4K – $404.5K
NOI $24,269 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
Balanced
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out medical suite with multiple exam rooms and direct rear access to nearby parking at a major medical center entrance.
Where is this medical office space located?
The property is located at 923 Medical Cir Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,368 SF built‑out medical office suite with lobby, administrative reception, and multiple exam rooms; Includes 3 exam rooms plus a lab room, large office, and small office with a private restroom; Suite has a public restroom and rear exit directly into the parking lot of Grand Strand Regional Medical Center
