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

    101 Strand Pkwy Myrtle Beach, SC 29588-7701

    • Turn key restaurants
    • 4,983 SF
    • 1.33 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2023
    $4,442,850
    Value Estimations
    $5,535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1909828
    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

    • Walk-On's Sports Bistreaux - Myrtle Beach, SC (Surfside) / Restaurant / Sports Bar

    Property Details for 101 Strand Pkwy

    Year built
    2001
    Construction
    STEEL FRAME
    Lot size
    1.33 lot acres
    Property size
    4,983 SF
    Zone code
    HC
    Property type
    Turn key restaurants
    APN
    447-09-04-0011
    APU
    44709040011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,535,000
      ML approach
      $5,410,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9846
    Latitude
    33.6512
    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
    $27,485
    $57,688
    $36,090
    $93,778
    -
    $961,470
    $601,500
    $1,562,970

    Comparable in this City

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      8671 Hwy 17th S Byp

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    • Value Estimation
      $450,000
      3,000 SF

      9408 Hwy 707

      RESTAURANT • 3,000 SF
      9408 Hwy 707, Myrtle Beach, SC 29588-7345
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    • Value Estimation
      $265,000
      1,778 SF

      3803 Socastee Blvd

      RESTAURANT • 1,778 SF
      3803 Socastee Blvd, Myrtle Beach, SC 29588-6152
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    • Value Estimation
      $725,000
      4,702 SF

      124 Loyola Dr

      RESTAURANT • 4,702 SF
      124 Loyola Dr, Myrtle Beach, SC 29588-7736
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    • Value Estimation
      $420,000
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      175 Brookton Cir

      RESTAURANT • 5,662 SF
      175 Brookton Cir, Myrtle Beach, SC 29588-6856
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    • Value Estimation
      $855,000
      3,246 SF

      Northgate Blvd

      RESTAURANT • 3,246 SF
      Northgate Blvd, Myrtle Beach, SC 29588
      View Details

    Similar Nearby for Sale

    • $1,744,000
      2,714 SF

      Black Rifle Coffee Company For Sale

      Drive-thru coffee shop with a long-term net lease.
      118 Loyola Dr, Myrtle Beach, SC 29588
      View Details
    • $9,094,000

      Retail Property For Sale

      Retail property available for purchase in Myrtle Beach, South Carolina.
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    • $795,000
      2,670 SF

      Established Car Wash on High-Traffic Road

      Operating car wash with equipment on a high-traffic commercial corner.
      4710 Socastee Blvd, Myrtle Beach, SC 29588
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    • $319,800
      1.31 Acres

      Queens Harbour Commercial Land

      1.31 Acres, Prime Myrtle Beach Location
      3005 Newcastle Loop Myrtle Bch, Myrtle Beach, SC 29588
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    • $4,500,000
      15.00 Acres

      Highway 707 Commercial Land

      15 Acres, Myrtle Beach, SC - $4.5M
      0 Tbd Hwy 707, Myrtle Beach, SC 29588
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    • $1,400,000

      Land For Sale

      Land available for sale in Myrtle Beach, South Carolina.
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    Similar Nearby for Lease

    • $18 SF/Yr
      20,000 SF

      Socastee Blvd Retail Center

      Prime Myrtle Beach retail space.
      4300 Socastee Blvd, Myrtle Beach, SC 29588
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      Socastee Blvd Retail Opportunity

      Prime Myrtle Beach retail land, two spaces available.
      0 Socastee Blvd & Dick Pond Rd, Myrtle Beach, SC 29588
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    • $8,000 /Mo
      6,000 SF

      Retail and Warehouse Space Available

      Retail/warehouse space with showroom facing HWY 707, high visibility.
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      View Details
    • Contact for pricing

      Retail Pad Sites For Lease

      Multiple retail pad sites available for lease in Myrtle Beach.
      Myrtle Beach, SC 29588
      View Details
    • $2,250 /Mo
      1,350 SF

      Prime Retail Space in Myrtle Beach

      High-visibility commercial unit in Northgate Plaza, Myrtle Beach.
      3566 Northgate Blvd, Myrtle Beach, SC 29588
      View Details
    • $5,500 /Mo
      3,120 SF

      Highway 17 Bypass Commercial Space

      Versatile commercial property on high-traffic Highway 17 Bypass in Myrtle Beach.
      4807 S Highway 17 Byp, Myrtle Beach, SC 29588
      View Details
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    101 Strand Pkwy
    Myrtle Beach, SC 29588-7701
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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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