Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1102 Kings Hwy Myrtle Beach, SC 29577

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1102 Kings Hwy Myrtle Beach, SC 29577

    View on Map
    • Lifestyle centers
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Papa John's Pizza / Restaurant

    Property Details for 1102 Kings Hwy

    Year built
    1986
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 10,700 square foot shopping center in Myrtle Beach, South Carolina, presents a compelling investment opportunity. Located at 1102 S Kings Hwy, this multi-tenant property boasts 100% occupancy and a strong net operating income (NOI) of $116,150, yielding a 7.25% cap rate. Built in 1986, the center features a nationally top-performing Papa John's restaurant, consistently ranking in the top 91st percentile nationally and 95th percentile statewide, ensuring stable income. The property benefits from its prime location on a major Myrtle Beach thoroughfare, less than 10 minutes from The Market Commons, and surrounded by a dense residential population including single-family homes, multifamily residences, and condos. Myrtle Beach's thriving tourism industry, attracting over 20 million visitors annually, further enhances the property's value. An added advantage is a four-bedroom, three-bathroom residential unit above the shopping center, currently leased month-to-month, offering potential for rental income growth. The tenant mix is resistant to online competition, focusing on service and restaurant businesses. This irreplaceable beach real estate presents a rare chance to acquire a high-performing, well-located shopping center with significant upside potential. The asking price is $1,600,000, translating to $149.53 per square foot.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9006
    Latitude
    33.6786

    Comparable in this City

    • Value Estimation by Request
      20,908 SF

      740-794 Oak Forest Ln

      Lifestyle centers • 20,908 SF
      740-794 Oak Forest Ln, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $8,515,000
      46,230 SF

      3650 Walton Dr

      MINI-MALL • 46,230 SF
      3650 Walton Dr, Myrtle Beach, SC 29577-6775
      View Details
    • Value Estimation
      $1,840,000
      10,939 SF

      1312 Celebrity Cir

      MINI-MALL • 10,939 SF
      1312 Celebrity Cir, Myrtle Beach, SC 29577-7451
      View Details
    • Value Estimation
      $23,385,000
      203,336 SF

      541 Seaboard St

      MINI-MALL • 203,336 SF
      541 Seaboard St, Myrtle Beach, SC 29577-9733
      View Details
    • Value Estimation
      $16,195,000
      141,117 SF

      1946 Mr Joe White Ave

      MINI-MALL • 141,117 SF
      1946 Mr Joe White Ave, Myrtle Beach, SC 29577-5624
      View Details
    • Value Estimation
      $8,475,000
      46,010 SF

      Kings Hwy

      MINI-MALL • 46,010 SF
      Kings Hwy, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,792 SF

      Office and Retail Space Available

      15,792 SqFt office and retail space for sale.
      2003 N Oak St, Myrtle Beach, SC 29577
      View Details
    • $1,800,000
      4,608 SF

      Restaurant Property in Myrtle Beach

      Freestanding restaurant with high traffic and ample parking.
      000 Not Specified, Myrtle Beach, SC 29577
      View Details
    • $1,299,000
      5,400 SF

      Retail Building on Kings Highway

      5,400 SF commercial building in Myrtle Beach for sale.
      508 North Kings Hwy, Myrtle Beach, SC 29577
      View Details
    • $1,200,000
      2,741 SF

      Former Restaurant on Kings Highway

      2,741 SF former restaurant on 0.68 acres for sale.
      1204 S Kings Hwy, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      20,908 SF

      Fully Occupied Myrtle Beach Retail

      20,908 SF retail center with development opportunity in Myrtle Beach.
      740-794 Oak Forest Ln, Myrtle Beach, SC 29577
      View Details
    • $344,000
      2,375 SF

      Retail Space on Kings Highway

      Retail space on Kings Highway in Myrtle Beach for sale.
      1609 N Kings Hwy, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Lease

    • $3,125 /Mo
      1,250 SF

      Restaurant Space on 7th Avenue

      Restaurant space available for lease on October 1, 2025.
      206 7Th Ave N, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space in Grande Dunes

      Retail spaces available in proposed Grande Dunes development.
      43 Frontage Rd, Myrtle Beach, SC 29577
      View Details
    • $35 SF/Yr
      1,400 SF

      Retail Space in Market Common

      Retail space for lease in Myrtle Beach's Market Common.
      1620 Farrow Pkwy, Myrtle Beach, SC 29577
      View Details
    • $36 SF/Yr
      5,128 SF

      Oceanfront Retail & Restaurant Space

      Prime Myrtle Beach location with ocean views and beach access.
      1410 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $22 SF/Yr
      2,000 SF

      Highly Visible Retail/Office Space

      2,000 SF in-line space in high-traffic Myrtle Beach.
      854 Jason Blvd, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing

      Retail Space in Coastal Grand

      Retail property located in Myrtle Beach's Coastal Grand Mall.
      1200 Coastal Grand Cir, Myrtle Beach, SC 29577
      View Details
    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.
    1102 Kings Hwy
    Myrtle Beach, SC 29577
    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!