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    Property profile & analytics

    209 1st S Ave North Myrtle Beach, SC 29582-3121

    • Garden apartment buildings
    • 3,910 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Feb 02, 2024
    $650,000
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    5.6%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US77-1361978
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 209 1st S Ave

    Year built
    1970
    Lot size
    0.17 lot acres
    Property size
    3,910 SF
    Zone code
    RC
    Property type
    Garden apartment buildings
    APN
    356-07-04-0433
    APU
    35607040433

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $650,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $600,000
      6.5%
      $555,000
      7%
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $415,000
      Market price range: $385k - $796k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.6742
    Latitude
    33.8189
    CBSA code
    34820
    CBSA name
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,917
    $10,350
    $2,367
    $12,717
    -
    $200,000
    $59,800
    $259,800

    Comparable in this City

    • Value Estimation
      $560,000
      5,628 SF

      213 1st S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 5,628 SF
      213 1st S Ave, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $590,000
      3,788 SF

      212 1st N Ave

      GARDEN APT, COURT APT (5+ UNITS) • 3,788 SF
      212 1st N Ave, North Myrtle Beach, SC 29582-3002
      View Details
    • Value Estimation
      $390,000
      2,958 SF

      206 6th S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 2,958 SF
      206 6th S Ave, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $540,000
      3,183 SF

      2206 Ocean Blvd

      GARDEN APT, COURT APT (5+ UNITS) • 3,183 SF
      2206 Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $460,000
      5,656 SF

      717 31st S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 5,656 SF
      717 31st S Ave, Atlantic Beach, SC 29582-4765
      View Details
    • Value Estimation
      $470,000
      5,656 SF

      1002 32nd S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 5,656 SF
      1002 32nd S Ave, Atlantic Beach, SC 29582-4767
      View Details

    Similar Nearby for Sale

    • $825,000

      Crescent Beach Multifamily Investment Opportunity

      Rare opportunity: three buildings, eight units, one block from the ocean.
      300 21St Ave S, North Myrtle Beach, SC 29582
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    • $325,000
      1,176 SF

      Furnished Condo Near Beach

      Furnished 3-bedroom condo with ocean views and resort-style amenities.
      207 N Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • $230,000

      Wedgewood Condo in Barefoot Resort

      Updated condo in Barefoot Resort, near beach and golf.
      5751 Oyster Catcher Dr, North Myrtle Beach, SC 29582
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    • $219,900
      762 SF

      Updated Condo Near Crescent Beach

      Updated 2-bedroom condo near the beach with community amenities.
      405 21St Ave S, North Myrtle Beach, SC 29582
      View Details
    • $169,899
      810 SF

      Furnished Condo Near Barefoot Landing

      Top-floor, 2-bedroom condo near the beach with short-term rental potential.
      1500 Cenith Dr, North Myrtle Beach, SC 29582
      View Details
    • $229,900

      Top Floor Condo with Golf Views

      Two-bedroom condo in gated community with golf course views.
      2180 Waterview Dr, North Myrtle Beach, SC 29582
      View Details

    Similar Nearby for Lease

    • $2,200 /Mo
      2,000 SF

      Oceanfront Condo with Resort Amenities

      Furnished 4BR condo with ocean views, pool, and gym.
      1625 S Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • $6 SF/Yr
      5,256 SF

      1000 2Nd Ave

      Office space
      1000 2Nd Ave, North Myrtle Beach, SC 29582
      View Details
    • $48,000
      30,492 SF

      Prime Myrtle Beach Commercial Land

      Acre+ Corner Lot, Hwy Zoning
      3105 Highway 17, North Myrtle Beach, SC 29582
      View Details
    • $142,233
      3,348 SF

      North Myrtle Beach Retail Space

      High-end retail space in a desirable shopping center.
      900 S Highway 17 S, North Myrtle Beach, SC 29582
      View Details
    • $20 SF/Yr
      442,199 SF

      Gator Hole Plaza: Retail/Office Space

      North Myrtle Beach retail/office opportunity.
      550 Highway 17, North Myrtle Beach, SC 29582
      View Details
    • $20 SF/Yr
      2,800 SF

      Retail Space in Anchored Center

      Retail space available in a well-located shopping center.
      300 Highway 17 N, North Myrtle Beach, SC 29582
      View Details
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    North Myrtle Beach, SC 29582-3121
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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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