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    Property profile & analytics

    1020 2Nd Ave N North Myrtle Beach, SC 29582

    • Office buildings
    • 36,198 SF
    • 1.77 lot acres
    For Lease
    View listing
    $675 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0358652
    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

    • Office buildings

    Property Details for 1020 2Nd Ave N

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    1.77 lot acres
    Property size
    36,198 SF
    Zone code
    R-2
    Property type
    Office buildings
    APN
    350-16-03-0060
    APU
    35016030060

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,875,000
      6.5%
      $7,270,000
      7%
      $6,750,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,209,000
      Market price range: $4.92M - $12.1M
      AI Estimate
      $5,388,000
      Market price range: $3.99M - $14.7M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $8,120,000
      Current use
      WAREHOUSE, STORAGE
      $6,625,000
      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
    -78.6797
    Latitude
    33.8319
    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
    $50,905
    $54,000
    $168,000
    $222,000
    -
    $900,000
    $2,800,000
    $3,700,000

    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
    • $990,000

      Highway Frontage Retail Pad Site

      Retail pad site on Highway 17 S with high visibility.
      1304 Highway 17 S, North Myrtle Beach, SC 29582
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    • $179,900
      0.07 Acres

      Residential Lot in North Myrtle Beach

      Residential lot in a quaint community with a community pool.
      1310 Mariners Rest Dr, North Myrtle Beach, SC 29582
      View Details
    • $135,000
      0.16 Acres

      Atlantic Beach Multi-Family Lot

      Land near the ocean in Atlantic Beach, South Carolina.
      1015 30Th Ave S, Atlantic Beach, SC 29582
      View Details
    • $175,000
      0.34 Acres

      Residential Lot Near Beach

      Cleared residential lot near beach, restaurants, and shopping.
      1013 31St Ave S, North Myrtle Beach, SC 29582
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    • $119,000
      0.06 Acres

      Myrtle Beach Resort Lot for Sale

      Residential lot with amenities near Cherry Grove Beach.
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    Similar Nearby for Lease

    • $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
    • $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
    • $675 /Mo
      1,645 SF

      Class A Office Space

      Class A office space with modern interior and ample parking.
      1020 2Nd Ave N, North Myrtle Beach, SC 29582
      View Details
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    North Myrtle Beach, SC 29582
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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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