Ocean View Condo in Myrtle
For Sale
$316,000
9580 Shore Dr. #311 Myrtle, Myrtle Beach, SC 29572
Serene 3-bedroom condo with ocean views and community amenities.
Property Size1,248 SF
Price / SF$253.21
Days on Market361
Property Features for 9580 Shore Dr. #311 Myrtle
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Condominium
Amenities
Cable Ready
Central Air
Central
Electric
Dishwasher
Microwave
Range
Refrigerator
Range Hood
Dryer
Washer
Deck, Pool, Porch, Cable Available, Electricity Available, Sewer Available, Water Available
Building Details
Building Size
1,248 SF
Year Built
1982
Listing Agency:
Realty Hub
(843) 655-4219
Listed By:
Jamie Ruocco-Daurity · License #116650
(843) 655-4219
Source:
Kw
Added: Aug 14, 2025
Changed: Aug 8
Last Checked: May 19 at 9:25PM
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 Realty Hub
Investment Insights
Based on property information with market context.
This end-unit condo, located in the Pelicans Landing community, features three bedrooms and two and a half bathrooms. Situated on the third floor and accessible by two elevators, the property offers laminated wood and tile flooring, stylish furnishings, and a window seat in the dining area with a coffee bar/wet bar. The living and dining areas combine to create a spacious area with sliding glass door access to one of two balconies. The kitchen includes white appliances, granite countertops, ample cabinet space, and a breakfast bar. The primary bedroom features a private balcony with ocean views. The condo also includes two additional bedrooms, one with an ensuite full bath, a guest powder room, and a laundry room with a washer and dryer. Pelicans Landing community amenities include an oceanfront pool with a sunning deck, an additional pool across the street, and grilling/picnic areas. The property is conveniently located near grocery stores, banks, post offices, and medical centers.
Key Highlights
- Ocean view condo with private balcony access from the primary bedroom.
- End unit with TWO SPACIOUS BALCONIES.
- Pelicans Landing community amenities include OCEANFRONT POOL and additional pool.
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
$11,521
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
3.65%
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%
$230,420
$230.4K
Cap Rate 7%
$164,586
$164.6K
Cap Rate 9%
$128,011
$128.0K
Market Conditions
NOI Build-Up for 1,248 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
$21.9K $17.52/SF
− Vacancy
−$918 −$0.74/SF
EGI
$20.9K $16.78/SF
− OpEx
−$9.4K −$7.55/SF
NOI
$11.5K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$230,420
Cap Rate 7%
$164,586
Cap Rate 9%
$128,011
Alternative Uses
Best Use
Apartment 5plus
$164.6K
$144.0K – $192.0K
NOI $11,521 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$316.3K
$276.8K – $369.0K
NOI $22,141 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
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 Multifamily 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?
Apartment building - Serene 3-bedroom condo with ocean views and community amenities.
Where is this apartment building located?
The property is located at 9580 Shore Dr. #311 Myrtle Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $316,000.
What are key features of this property?
This property features: Ocean view condo with private balcony access from the primary bedroom.; End unit with TWO SPACIOUS BALCONIES.; Pelicans Landing community amenities include OCEANFRONT POOL and additional pool.
