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    3041 - Holmestown Industrial Park Myrtle Beach, SC 29588
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    3041 - Holmestown Industrial Park, Myrtle Beach, SC 29588

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    • Warehouses
    • 18,700 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 3041 - Holmestown Industrial Park

    Property type
    Warehouses
    Property subtype
    Land

    Description

    This exceptional 18,700-square-foot warehouse is situated in the rapidly expanding Socastee submarket of Myrtle Beach, South Carolina. Located at 3041 Ricks Industrial Park Dr. Units 1-4, Phase 2 - Holmestown Industrial Park, this single-tenant property offers unparalleled access to major transportation arteries. The US Highway 17 Bypass interchange is conveniently located just 0.3 miles away via Holmestown Road, while the southern access to SC-31 (Carolina Bays Parkway) is a short 3.3-mile drive via Highway 707. This prime location benefits from a robust and growing population base

    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
    -79.0106
    Latitude
    33.6228

    Comparable in this City

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      6470 Dick Pond Rd

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      3,200 SF

      2963 Forestbrook Rd

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      2963 Forestbrook Rd, Myrtle Beach, SC 29588-7939
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      $790,000
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      4630 Dick Pond Rd

      MINI-WAREHOUSE, STORAGE
      4630 Dick Pond Rd, Myrtle Beach, SC 29588-6811
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    • Value Estimation
      $870,000
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      3612 Coalition Dr

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      3612 Coalition Dr, Myrtle Beach, SC 29588-6183
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    • Value Estimation
      $1,825,000
      21,800 SF

      3949 Dick Pond Rd

      MINI-WAREHOUSE, STORAGE
      3949 Dick Pond Rd, Myrtle Beach, SC 29588-6800
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    Similar Nearby for Sale

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      5.96 Acres Land For Sale

      5.96 acres of land void of wetlands.
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      Land For Sale Myrtle Beach

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      Land For Sale

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      Commercial Property on Forestbrook Road

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    Similar Nearby for Lease

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      Highway Frontage Flex Space Available

      Flex space with highway frontage, divisible to 3,400 SqFt.
      6471 Dick Pond Rd, Myrtle Beach, SC 29588
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    • $11 SF/Yr

      Versatile Flex Warehouse Space Available

      4,800 SF flex warehouse with multiple access points.
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    • $8,000 /Mo
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      Retail and Warehouse Space Available

      Retail/warehouse space with showroom, high ceilings, and highway frontage.
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      6,000 SF

      Retail and Warehouse Space Available

      6000 sq ft retail/warehouse space with highway frontage.
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      Myrtle Beach Commercial Storage Space

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    • $13 SF/Yr
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      Holmestown Road Office Space

      1,800 sq ft Office, Prime Location
      3260 Holmestown Rd D, Myrtle Beach, SC 29588
      View Details
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    Myrtle Beach, SC 29588
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    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
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