Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1018 2nd S Ave North Myrtle Beach, SC 29582-3573

    • Office buildings
    • 3,168 SF
    • 22.47 lot acres
    OFF-MARKET
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    7.9%
    Office buildings
    Location Intelligence
    Property ID
    US77-1888455
    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

    • North Myrtle Beach Street Department / Paving Contractor / Public Works Department
    • North Myrtle Beach Zoning / Urban Planning Department
    • City of North Myrtle Beach City Hall / City Hall / City Government Office
    • North Myrtle Beach Public Safety / Traffic Police Station / Department Of Public Safety
    • North Myrtle Beach Water Maintenance / Water Utility Company

    Property Details for 1018 2nd S Ave

    Year built
    1977
    Lot size
    22.47 lot acres
    Property size
    3,168 SF
    Zone code
    HC
    Property type
    Office buildings
    APN
    356-00-00-0001
    APU
    35600000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,058,000
      Market price range: $431k - $1.06M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $710,000
      Current use
      COMMERCIAL (GENERAL)
      $1,225,000
      Change: +72% Conversion: Easy
      RETAIL STORES
      $1,165,000
      Change: +64% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,000,000
      Change: +41% Conversion: Difficult
      MEDICAL BUILDING
      $955,000
      Change: +34% Conversion: Easy
      WAREHOUSE, STORAGE
      $580,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.6845
    Latitude
    33.8302
    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
    $0.00
    $127,870
    $3,664
    $131,534
    -
    $2,247,000
    $87,800
    $2,334,800

    Comparable in this City

    • Value Estimation
      $1,120,000
      8,348 SF

      417 1st N Ave

      OFFICE BUILDING • 8,348 SF
      417 1st N Ave, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $1,295,000
      5,837 SF

      1512 Madison Dr

      OFFICE BUILDING • 5,837 SF
      1512 Madison Dr, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $545,000
      4,576 SF

      1820 Spinnaker Dr

      OFFICE BUILDING • 4,576 SF
      1820 Spinnaker Dr, North Myrtle Beach, SC 29582-6825
      View Details
    • Value Estimation by Request
      1,305 SF

      709 17th S Ave

      OFFICE BUILDING • 1,305 SF
      709 17th S Ave, North Myrtle Beach, SC 29582-4078
      View Details
    • Value Estimation by Request
      2,064 SF

      300 17th S Ave

      OFFICE BUILDING • 2,064 SF
      300 17th S Ave, North Myrtle Beach, SC 29582-4004
      View Details
    • Value Estimation by Request
      3,224 SF

      2408 Madison Dr

      OFFICE BUILDING • 3,224 SF
      2408 Madison Dr, North Myrtle Beach, SC 29582-4328
      View Details

    Similar Nearby for Sale

    • $1,150,000
      2,751 SF

      North Myrtle Beach Office Building

      Highway Commercial zoned office building with high traffic frontage.
      1025 Highway 17 S, North Myrtle Beach, SC 29582
      View Details
    • $530,000
      0.52 Acres

      Prime NMB Commercial Land

      0.52-acre Hwy 17 lot, high traffic
      0 Tbd Hwy 17, North Myrtle Beach, SC 29582
      View Details
    • $349,000
      1,227 SF

      Top Floor Ocean Keyes Unit

      Well-maintained end unit with community amenities near beach and attractions.
      601 N Hillside Dr, North Myrtle Beach, SC 29582
      View Details
    • $318,500
      928 SF

      Ocean View Furnished Condo

      Pristine, top-floor, end-unit condo with ocean views and elevator.
      5709 N Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • $320,000
      880 SF

      Ocean-View Condo in Cherry Grove

      Updated condo near Cherry Grove Beach, ideal for rental income.
      5600 North Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • $4,999,999
      55.00 Acres

      Waterway Frontage Land Opportunity

      55 acres of pristine land with Intracoastal Waterway frontage.
      Tbd Bourne Trl, North Myrtle Beach, SC 29582
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo

      807 Sea Mountain Hwy, Unit b

      900 sq ft storefront/office right on Sea Mountain Hwy
      807 Sea Mountain Hwy, North Myrtle Beach, SC 29582
      View Details
    • New
      $4,800 /Mo
      3,000 SF

      North Myrtle Beach Retail Space

      Commercial retail or office space in North Myrtle Beach.
      404-A Main St, 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
    • $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
    • Contact for pricing
      36,000 SF

      Second Avenue Executive Suites

      Class A Office Space, North Myrtle Beach
      1016 2Nd Ave, North Myrtle Beach, SC 29582
      View Details
    • $1,624 /Mo
      3,733 SF

      North Myrtle Beach Office Space

      Commercial office space at Harbourgate Resort & Marina.
      2100 Sea Mountain Hwy, North Myrtle Beach, SC 29582
      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.
    1018 2nd S Ave
    North Myrtle Beach, SC 29582-3573
    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.