Three-Building Office
For Sale
$5,600,000
9250 Highway 17 Bypass, Murrells Inlet, SC 29576
Highway Commercial property combines renovated offices, conditioned warehouse space, expansion entitlements, and substantial on-site parking.
Property Size19,186 SF
Lot Size6.76 Acres
Days on Market51
Property Features for 9250 Highway 17 Bypass
General Information
Standard status
Active
Size
19,186 SF
Total Parking Spaces
70
Lot size
6.76 Acres
Zoning
HC
Lease Term
12 Months
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Additional Details
Asking Price
$5,600,000
Amenities
conference rooms
lounge
backup generator
3770841008
Active
Office
8
no
Special Purpose
One
yes
1
19186
Central Air
Central
Drive-In Doors, Office, Private Restrooms, Reception Area
Storage
Public Sewer
Estimated
3
Block, Vinyl Siding
Building Details
Building Size
19,186 SF
Buildings
3
Listing Agency:
Saltwater Grande Realty, LLC
Listed By:
Betty Robey · License #93122
(843) 315-3444
Source:
Saltwatergrande.idxbroker
Added: Aug 2
Changed: Sep 11
Last Checked: Sep 21 at 3:46AM
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 Saltwater Grande Realty, LLC
Investment Insights
Based on property information with market context.
This Highway Commercial campus comprises three buildings totaling 19,186 SF on approximately 6.76 acres across two parcels. Two office buildings have been renovated and include private offices, efficient layouts, and enclosed conference rooms. The third building provides approximately 10,000 SF of conditioned office and warehouse space, with private offices, a conference room, lounge, multiple restrooms, warehouse area, and a whole-building backup generator.
The property fronts Highway 17 Bypass in Murrells Inlet with approximately 36,700 VPD and includes about 70 on-site parking spaces. Public water and sewer serve the site, while three-phase power is available from nearby utilities. Entitlements are in place for two additional approximately 20,000 SF buildings; the expansion area has been cleared, with water retention, utilities, and engineering completed. The campus is located near the Murrells Inlet Marsh Walk, Inlet Square redevelopment, Brookgreen Gardens, Huntington Beach State Park, and the broader Grand Strand market.
The property fronts Highway 17 Bypass in Murrells Inlet with approximately 36,700 VPD and includes about 70 on-site parking spaces. Public water and sewer serve the site, while three-phase power is available from nearby utilities. Entitlements are in place for two additional approximately 20,000 SF buildings; the expansion area has been cleared, with water retention, utilities, and engineering completed. The campus is located near the Murrells Inlet Marsh Walk, Inlet Square redevelopment, Brookgreen Gardens, Huntington Beach State Park, and the broader Grand Strand market.
Key Highlights
- Three‑building campus totaling 19,186 SF on approximately 6.76 acres
- Direct Highway 17 Bypass frontage with approximately 36,700 VPD
- Approximately 10,000 SF conditioned office/warehouse building
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
$298,959
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
5.34%
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%
$5,979,180
$6.0M
Cap Rate 7%
$4,270,843
$4.3M
Cap Rate 9%
$3,321,767
$3.3M
Market Conditions
NOI Build-Up for 19,186 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
$373.0K $19.44/SF
− Vacancy
−$21.3K −$1.11/SF
EGI
$351.7K $18.33/SF
− OpEx
−$52.8K −$2.75/SF
NOI
$299.0K $15.58/SF
Area
Horry County, SC
Vacancy
5.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
15.00%
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%
$5,979,180
Cap Rate 7%
$4,270,843
Cap Rate 9%
$3,321,767
Alternative Uses
Best Use
Warehouse
$4.27M
$3.74M – $4.98M
NOI $298,959 @ 7.0% cap · market cap 5.34%
Second Best
Healthcare Medical
$4.10M
$3.59M – $4.78M
NOI $286,881 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$4.86M
$4.25M – $5.67M
NOI $340,375 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
155
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Highway Commercial property combines renovated offices, conditioned warehouse space, expansion entitlements, and substantial on-site parking.
Where is this office building located?
The property is located at 9250 Highway 17 Bypass Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: Three‑building campus totaling 19,186 SF on approximately 6.76 acres; Direct Highway 17 Bypass frontage with approximately 36,700 VPD; Approximately 10,000 SF conditioned office/warehouse building
