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    10231 Kings Hwy Myrtle Beach, SC 29572-4038
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    Property profile & analytics

    10231 Kings Hwy, Myrtle Beach, SC 29572-4038

    View on Map
    • Hotels
    • 41,832 SF
    • 2.10 lot acres
    Off-Market
    Last Sale Sep 10, 2024
    $5,500,000
    Property ID
    US77-2073710
    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
    $5,375,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fairfield Inn Myrtle Beach North / Hotel & Motel

    Property Details for 10231 Kings Hwy

    Year built
    1993
    Construction
    CONCRETE
    Lot size
    2.10 lot acres
    Zone code
    HC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    390-06-03-0006
    APU
    39006030006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 17, 2024 — Mb Venture Investments LLC Mb Venture Investments LLC Warranty Deed · related —
    Dec 10, 2024 $5,500,000 Mb Venture Investments LLC Ncsc Myrtle Beach Owner LLC Warranty Deed —
    Jun 22, 2017 $6,350,000 Ncsc Myrtle Beach Owner LLC Lrp Hotels Of N Myrtle Bch LLC Grant Deed $20M · Benefit Street Ptrs Cre Fin Ll
    Mar 28, 2014 $4,225,000 Lrp Hotels Of N Myrtle Bch LLC Myrtle Beach Hotel Suites LLC Grant Deed · related $4.2M · Carter Bk&tr
    May 16, 2001 $3,635,000 Myrtle Beach Hotel Ste INC — Grant Deed —
    — — Myrtle Beach Hotel Suites LLC — Deed Of Trust · related $3M · Branch Bk&tr

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,470,000
      6.5%
      $4,125,000
      7%
      $3,830,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,378,000
      Market price range: $6.38M - $13.9M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $8,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.7615
    Latitude
    33.7925
    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
    $52,808
    $60,000
    $180,000
    $240,000
    -
    $1,000,000
    $3,000,000
    $4,000,000

    Comparable in this City

    • Value Estimation
      $4,065,000
      43,902 SF

      9551 Kings Hwy

      HOTEL/MOTEL
      9551 Kings Hwy, Myrtle Beach, SC 29572-4005
      View Details
    • Value Estimation
      $27,130,000
      314,930 SF

      8212 Ocean Blvd

      HOTEL/MOTEL
      8212 Ocean Blvd, Myrtle Beach, SC 29572
      View Details
    • Value Estimation
      $620,000
      1,275 SF

      7003 Ocean Blvd

      HOTEL/MOTEL
      7003 Ocean Blvd, Myrtle Beach, SC 29572-3643
      View Details
    • Value Estimation
      $22,055,000
      255,157 SF

      10000 Bch Clb Dr

      HOTEL/MOTEL
      10000 Bch Clb Dr, Myrtle Beach, SC 29572-5304
      View Details
    • Value Estimation
      $16,980,000
      96,695 SF

      201 74th N Ave

      HOTEL/MOTEL
      201 74th N Ave, Myrtle Beach, SC 29572-3875
      View Details
    • Value Estimation
      $565,000
      4,865 SF

      7501 Ocean Blvd

      HOTEL/MOTEL
      7501 Ocean Blvd, Myrtle Beach, SC 29572-4246
      View Details

    Similar Nearby for Sale

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      View Details
    • Contact for pricing
      1,514 SF

      Resort Residence with Lock-Out Floorplan

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      Furnished 2-bedroom condo with oceanfront views and resort amenities.
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    • $2,499,900
      13,440 SF

      Myrtle Beach Multifamily Investment

      Renovated 12-unit complex near the beach with strong rental history.
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      Oceanfront Residential Lot in Myrtle Beach

      Prestigious oceanfront lot in Myrtle Beach's 'Avenues' neighborhood.
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    Similar Nearby for Lease

    • Contact for pricing
      3,657 SF

      Retail Space in Myrtle Beach

      Retail opportunity in Kroger-anchored shopping center near popular attractions.
      9650 N Kings Hwy, Myrtle Beach, SC 29572
      View Details
    • Contact for pricing

      Freestanding Retail Building Available Now

      Freestanding retail building in Myrtle Beach with high visibility.
      7815 North Kings Highway Ext, Myrtle Beach, SC 29572
      View Details
    • Contact for pricing
      7,500 SF

      Retail Space on Restaurant Row

      7500 SF retail space with high visibility and access.
      964 Lake Arrowhead Rd, Myrtle Beach, SC 29572
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space in Grande Dunes

      Retail spaces available in proposed grocery anchored development.
      6080 Tides Way, Myrtle Beach, SC 29572
      View Details
    • Contact for pricing
      8,750 SF

      Retail Space in Myrtle Beach

      Retail space available in proposed grocery-anchored development.
      62Nd Ave N, Myrtle Beach, SC 29572
      View Details
    • Contact for pricing

      Retail Development at Hwy 17

      New retail development with anchor, outparcel, and shop space.
      Myrtle St, Myrtle Beach, SC 29572
      View Details
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    Myrtle Beach, SC 29572-4038
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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.

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