Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    489 Myrtle Ridge Dr Conway, SC 29526

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    4000 SF flex space with easy highway access.

    Type:Industrial
    Property size:
    4,000 SF
    Added:
    Nov 15, 2024
    Days on Market:
    519
    Last Refresh:
    Mar 17 at 1:23 pm

    Property Features for 489 Myrtle Ridge Dr

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2025

    Spaces For Lease

    at 489 Myrtle Ridge Dr Contact us

    2000 SF $14 /Mo

    Size
    2,000 SF
    Type
    Industrial
    2000 SF Unit now available! Won't Last long. nGreat location just off of 501 and...
    show more
    Contact us

    We can help!

    Listing Contact
    Michael Shank

    Listing agent Michael Shank License #SC 26073

    Listing office Tideland Commercial

    Listing date Nov 15, 2024

    Source Crexi

    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 Tideland Commercial

    Overview

    Available Flex Space Unit

    A 4000 square foot flex space unit is currently available. The property benefits from its location, offering convenient access to highways 501 and 544.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vines Restoration Plumbing ... Plumbing Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9946013
    Latitude
    33.7696526

    Nearby Similar for Lease

    • Contact for pricing

      Medical/Professional Office Near Conway Hospital

      Medical/professional office building near Conway Medical Center with customizable space.
      8028 Myrtle Trace Dr., Conway, SC 29526
      View Details
    • Contact for pricing

      Downtown Conway Office/Retail Opportunity

      Prime commercial space in Conway's Historic Downtown District.
      1203 Main St., Conway, SC 29526
      View Details
    • $120,000/mo

      Versatile Commercial Property in Conway

      Commercial property suitable for entertainment, event space, fitness, or retail.
      2961 Highway 501 W, Conway, SC 29526
      View Details
    • $18/mo

      Downtown Conway Professional Office Space

      Professional office space in Downtown Conway, available in 2025.
      1312 2nd Avenue, Conway, SC 29577
      View Details
    • $16/mo

      Downtown Conway Office Space

      Turn-key office space near government offices and downtown amenities.
      205 Beaty Street, Conway, SC 29526
      View Details
    • Contact for pricing

      Highway 501 Retail Space

      Retail space for lease on high-traffic Highway 501.
      1203 Highway 501, Conway, SC 29526
      View Details
    • $7/mo

      Versatile Commercial Space with Kitchen

      5000 SF commercial space with kitchen facility for rent.
      7297 Highway 905, Conway, SC 29526
      View Details
    • Contact for pricing

      Warehouse Under Construction, Conway, SC

      Warehouse under construction, delivery expected Q3 2026, Heavy Industrial zoning.
      155 East Cox Ferry Dr., Conway, SC 29526
      View Details
    • $12/mo

      Office-Warehouse Flex Park

      Office-warehouse flex units available for lease in early 2026.
      5321 Highway 90, Conway, SC 29526
      View Details
    • Contact for pricing

      Office/Retail Space on Mill Pond

      Highly visible office/retail space with flexible layout and ample parking.
      1706 Mill Pond Rd, Conway, SC, 29527-4745
      View Details
    • $8/mo

      Industrial Space in Atlantic Center

      Industrial space for lease in established business park.
      370 Allied Drive, Conway, SC 29526
      View Details
    • Contact for pricing

      Warehouse Unit For Rent

      Warehouse unit available off Hwy 501 in Conway.
      489 Myrtle Ridge Drive, Conway, SC 29526
      View Details

    FAQs

    What type of property is this?
    Flex space - 4000 SF flex space with easy highway access.
    Where is this flex space located?
    The property is located at 489 Myrtle Ridge Dr Conway, SC.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 4000 sf Unit Available; Great Location; Easy Access to 501
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Shank
    Real Estate License ID: SC 26073
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!