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    Property profile & analytics

    10517 Ocean Hwy Pawleys Island, SC 29585-7920

    • Super regional malls
    • 5,984 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Jun 05, 2023
    $14,588,000
    Value Estimations
    $14,165,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1173591
    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

    • Super regional malls

    Property Details for 10517 Ocean Hwy

    Year built
    1977
    Lot size
    1.00 lot acres
    Property size
    5,984 SF
    Property type
    Super regional malls
    APN
    04-0158-042-01-00
    APU
    401580420100

    Description

    This exceptional 982-square-foot retail space, located at 10517 Ocean Highway in Georgetown County, presents a fantastic opportunity for a single-tenant business. The property is a "warm vanilla shell," offering a blank canvas for customization. Its prime location boasts exceptional visibility and high traffic volume, benefiting from 38,500 vehicles passing daily according to 2023 SCDOT data. A traffic light at the intersection of Ocean Highway and North Causeway ensures easy access. The space is part of a thriving commercial area, sharing proximity with established businesses such as Pawleys Bakery, The UPS Store, and Pawleys Island Seafood. The property includes a convenient storage room and restroom. A tenant improvement allowance is available, and a minimum five-year lease is required. Please note that tobacco-related businesses are not permitted. This location offers unparalleled exposure and accessibility, making it ideal for a variety of retail ventures. The property is classified as Retail, Office, and Restaurant, but this listing specifically targets the traditional office subtype.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $13,325,000
      ML approach
      $9,630,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pawleys Island
    County
    Georgetown
    State
    South Carolina
    Longitude
    -79.127
    Latitude
    33.4397
    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
    $33,184
    $52,500
    $81,780
    $134,280
    -
    $875,000
    $1,363,100
    $2,238,100

    Comparable in this City

    • Value Estimation
      $1,140,000
      10,561 SF

      10185 Ocean Hwy

      REGIONAL SHOPPING CENTER, MALL • 10,561 SF
      10185 Ocean Hwy, Pawleys Island, SC 29585-8812
      View Details
    • Value Estimation
      $1,470,000
      13,960 SF

      113 Willbrook Blvd

      REGIONAL SHOPPING CENTER, MALL • 13,960 SF
      113 Willbrook Blvd, Pawleys Island, SC 29585-8245
      View Details
    • Value Estimation
      $1,515,000
      14,560 SF

      139 Willbrook Blvd

      REGIONAL SHOPPING CENTER, MALL • 14,560 SF
      139 Willbrook Blvd, Pawleys Island, SC 29585-8410
      View Details
    • Value Estimation
      $550,000
      5,315 SF

      9243 Ocean Hwy

      REGIONAL SHOPPING CENTER, MALL • 5,315 SF
      9243 Ocean Hwy, Pawleys Island, SC 29585-7417
      View Details
    • Value Estimation by Request
      4,000 SF

      237 Willbrook Blvd

      REGIONAL SHOPPING CENTER, MALL • 4,000 SF
      237 Willbrook Blvd, Pawleys Island, SC 29585-7748
      View Details
    • Value Estimation
      $14,165,000
      22,145 SF

      10659 Ocean Hwy

      REGIONAL SHOPPING CENTER, MALL • 22,145 SF
      10659 Ocean Hwy, Pawleys Island, SC 29585-8530
      View Details

    Similar Nearby for Sale

    • $399,000
      8,058 SF

      Established Restaurant on High-Traffic Corridor

      Turn-key restaurant opportunity in Pawleys Island, South Carolina.
      14361 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $2,400,000
      4,075 SF

      Pawleys Island Retail Opportunity

      Retail building with drive-thru and patio in Pawleys Island.
      11359 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $950,000

      Pawleys Island Outparcels For Sale

      Outparcels of Lowes Foods anchored Pawleys Market retail center.
      9180 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $350,000

      Land For Sale Pawleys Island

      Land available for sale in Pawleys Island, South Carolina.
      Wall St, Pawleys Island, SC 29585
      View Details
    • $430,000
      1.50 Acres

      Pawleys Island Commercial Lot For Sale

      1.5 acre commercial lot on Ocean Highway in Pawleys Island.
      000 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $420,000
      0.52 Acres

      Prime Commercial Lot on Wall Street

      Commercial real estate near Highway 17 and Litchfield By The Sea.
      Portion Wall St, Pawleys Island, SC 29585
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      4,200 SF

      Retail Space in Pawleys Island

      Retail space for lease in Lowes Foods anchored center.
      9140 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $6,082 /Mo
      2,500 SF

      New Retail and Office Spaces

      New retail and office spaces available in Pawleys Island, SC.
      9601 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $2,870 /Mo
      1,722 SF

      Charming Retail Space in Pawleys

      1,722 SF retail space in picturesque Pawleys Island shopping destination.
      10659 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $3,329 /Mo
      1,598 SF

      Prime Retail/Office Space Available

      Highly desirable Pawleys Island mixed-use location. Adaptable space.
      71 Dagullah Way, Pawleys Island, SC 29585
      View Details
    • $18 SF/Yr
      1,240 SF

      Pawleys Island Retail Opportunity

      Prime Ocean Highway Retail Space
      14427 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • Contact for pricing
      4,000 SF

      Development-Ready Retail Pad Site

      Pad site at Coastal Federal Town Center, up to 4,000 SF.
      11405 Sf, Pawleys Island, SC 29585
      View Details
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    Pawleys Island, SC 29585-7920
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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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