Retail Flex Building with Gun
For Sale
$1,250,000
9881 Ocean Hwy, Pawleys Island, SC 29585
Retail, office, and fortified flex gun range space with ADA-compliant bathrooms and dedicated climate control.
Property Size4,873 SF
Price / SF$256.52
Days on Market171
Property Features for 9881 Ocean Hwy
General Information
Standard status
Active
Size
4,873 SF
Listing Agency:
Tradd Commercial
(843) 839-9777
Listed By:
Adam Hall · License ##134696
(803) 316-5040
Source:
Exprealty
Added: Mar 19
Changed: Aug 20
Last Checked: Sep 4 at 2:15PM
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
Investment Insights
Based on property information with market context.
9881 Ocean Highway is a 4,873-square-foot retail/flex building that combines approximately 3,000 square feet of retail and office space with 2,000 square feet of flex space currently operated as a firearms retailer and shooting range. The building is configured with a 1,000-square-foot showroom, three offices, a conference room, storage closet, ADA-compliant bathrooms, and an additional full bathroom and full kitchen.
The gun range is a fortified structure within the building and includes its own climate control system. This flex space can be retrofitted to accommodate multiple users, while the overall design supports both office and retail use.
The property offers 66 feet of frontage on Highway 17 and prominent monument signage. It is located in Georgetown County under General Commercial zoning, which allows a broad range of commercial uses.
The gun range is a fortified structure within the building and includes its own climate control system. This flex space can be retrofitted to accommodate multiple users, while the overall design supports both office and retail use.
The property offers 66 feet of frontage on Highway 17 and prominent monument signage. It is located in Georgetown County under General Commercial zoning, which allows a broad range of commercial uses.
Key Highlights
- 4,873 SF retail/flex building in Pawleys Island, SC, currently operating as a firearms retailer and shooting range
- Approximately 3,000 SF includes retail and office space: 1,000 SF showroom, three offices, conference room, and storage
- Includes ADA‑compliant bathrooms plus a full bathroom and full kitchen
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
$58,330
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
4.67%
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%
$1,166,600
$1.2M
Cap Rate 7%
$833,286
$833.3K
Cap Rate 9%
$648,111
$648.1K
Market Conditions
NOI Build-Up for 4,873 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
$87.7K $18.00/SF
− Vacancy
−$4.4K −$0.90/SF
EGI
$83.3K $17.10/SF
− OpEx
−$25.0K −$5.13/SF
NOI
$58.3K $11.97/SF
Area
Georgetown County, SC
Vacancy
5.00%
Lease Rate
$18.00 /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%
$1,166,600
Cap Rate 7%
$833,286
Cap Rate 9%
$648,111
Alternative Uses
Best Use
Retail
$833.3K
$729.1K – $972.2K
NOI $58,330 @ 7.0% cap · market cap 4.67%
Second Best
Flex RnD
$665.8K
$582.6K – $776.8K
NOI $46,609 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,562 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29585, SC
16,574
Population
12,061
Households
1.4
Avg Household Size
60
Median Age
50%
College-Educated
96%
High-School Grad
61.8 sq mi
ZIP Area
268
Density / Sq Mi
$83,077
Median Household Income
$42,237
Median Earnings
$1,599
Median Rent
$423,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Debra G's Catering — 13089, 113 Willbrook Blvd A, Pawleys Island, SC 29585
Frequently Asked Questions
What type of property is this?
Flex space - Retail, office, and fortified flex gun range space with ADA-compliant bathrooms and dedicated climate control.
Where is this flex space located?
The property is located at 9881 Ocean Hwy Pawleys Island, SC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4,873 SF retail/flex building in Pawleys Island, SC, currently operating as a firearms retailer and shooting range; Approximately 3,000 SF includes retail and office space: 1,000 SF showroom, three offices, conference room, and storage; Includes ADA‑compliant bathrooms plus a full bathroom and full kitchen
