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    1013 Waccamaw Dr Murrells Inlet, SC 29576-5934
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    Property profile & analytics

    1013 Waccamaw Dr, Murrells Inlet, SC 29576-5934

    View on Map
    • Hotels
    • 6,345 SF
    • 1.00 lot acres
    Off-Market
    Last Sale Feb 28, 2024
    $1,850,000
    Property ID
    US77-3060325
    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.
    Value Estimations
    $1,850,000
    Show details
    Cap Rate Potential
    2.1%
    Hotels
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 1013 Waccamaw Dr

    Year built
    2004
    Construction
    WOOD
    Lot size
    1.00 lot acres
    Property type
    Hotels
    APN
    41-0116-047-00-00
    APU
    4101160470000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 28, 2024 — Michael J Chewens Michael J Chewens Intrafamily Transfer · related —
    Feb 7, 2022 $1,850,000 Michael J Chewens Malcolm Young Deed $1.1M · Guaranteed Rate INC
    Jul 20, 2020 $950,000 Amy Young Robert A Phillips JR Deed $760k · Regions Bank
    Jan 27, 2020 — Robert A Phillips JR. Lisa D Tolbert Quit Claim Deed · related —
    Jun 18, 2010 — Seas The Day LLC Sls 1013 S Waccamaw Dr LLC Grant Deed · related —
    Jun 24, 2005 $2,100,000 Seas The Day LLC Sls 1013 S Waccamaw Dr LLC Grant Deed $1.7M · Peoples National Bank
    Nov 12, 2003 $707,500 Sls 1013 S Waccamaw Dr LLC — Grant Deed · related —
    Oct 21, 2003 $707,500 Sls 1031 S Waccamaw Dr LLC — Grant Deed · related —
    Jun 12, 2003 $700,000 Scalise Dev INC — Grant Deed · related —
    — — Lisa T Phillips — Deed Of Trust $645k · Spc Cu

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,850,000
      ML approach
      $1,850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,698,000
      Market price range: $1.11M - $1.70M

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

    Location Insight

    • Map
    • Local Demand
    City
    Murrells Inlet
    County
    Georgetown
    State
    South Carolina
    Longitude
    -79.0097
    Latitude
    33.5637
    CBSA code
    23860
    CBSA name
    GEORGETOWN, SC MICROPOLITAN 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
    $9,142
    $44,000
    $25,640
    $69,640
    -
    $1,100,000
    $641,000
    $1,741,000

    Comparable in this City

    • Value Estimation
      $925,000
      4,940 SF

      1601 Dolphin St

      HOTEL-RESORT
      1601 Dolphin St, Murrells Inlet, SC 29576-5527
      View Details
    • Value Estimation
      $1,185,000
      14,776 SF

      1120 Waccamaw Dr

      HOTEL/MOTEL
      1120 Waccamaw Dr, Murrells Inlet, SC 29576-8760
      View Details
    • Value Estimation
      $1,530,000
      8,134 SF

      1256 Waccamaw Dr

      HOTEL-RESORT
      1256 Waccamaw Dr, Murrells Inlet, SC 29576-5925
      View Details
    • Value Estimation
      $1,405,000
      7,624 SF

      1346 Waccamaw Dr

      HOTEL-RESORT
      1346 Waccamaw Dr, Murrells Inlet, SC 29576-5926
      View Details
    • Value Estimation by Request
      4,156 SF

      2228 Oyster Cv

      HOTEL-RESORT
      2228 Oyster Cv, Murrells Inlet, SC 29576-5540
      View Details
    • Value Estimation by Request
      3,506 SF

      1920 Dolphin St

      HOTEL-RESORT
      1920 Dolphin St, Murrells Inlet, SC 29576
      View Details

    Similar Nearby for Sale

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      Murrells Inlet Redevelopment Opportunity

      2.9-acre commercial property with redevelopment potential near Marsh Walk.
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      Developed Pad Site For Sale

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      Commercial Site on Highway 17

      Commercial land for sale in high-traffic Inlet Square Mall area.
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      Murrells Inlet Cracker Barrel Investment

      NNN leased Cracker Barrel with long term passive income.
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      Prime Commercial Land For Sale

      3.06 acres with high visibility and commercial zoning.
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    Similar Nearby for Lease

    • $3,000 /Mo
      2,200 SF

      Office Warehouse in Murrells Inlet

      Office warehouse building for lease with great location and visibility.
      11772 S Highway 17 Byp, Murrells Inlet, SC 29576
      View Details
    • New
      $1,000 /Mo
      863 SF

      Move-In Ready Second-Floor Office Suite

      Second-floor suite with reception area, two private offices, private restroom, and kitchenette, in a high-visibility office building.
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      View Details
    • Contact for pricing

      Retail Pad in Murrells Inlet

      Retail pad for lease in a fast-growing Myrtle Beach MSA.
      Murrells, Murrells Inlet, SC 29576
      View Details
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      1,000 SF

      Office Space in Murrells Inlet

      Office space for lease in the heart of Murrells Inlet.
      889 Inlet Square Dr, Murrells Inlet, SC 29576
      View Details
    • $2,500 /Mo
      64,904 SF

      Commercial Land in Murrells Inlet

      1.49 acres of commercial land for lease.
      Inlet Square Dr, Murrells Inlet, SC 29576
      View Details
    • $3,000 /Mo
      1,625 SF

      New Flex Development in Murrells

      New construction flex space with build-to-suit options.
      4960 Highway 17, Murrells Inlet, SC 29576
      View Details
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    Murrells Inlet, SC 29576-5934
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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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