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    Property profile & analytics

    108 Elk Dr Murrells Inlet, SC 29576-9127

    • Retail space
    • 2,400 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $445,000
    Show details
    Cap Rate Potential
    7.9%
    Retail space
    Location Intelligence
    Property ID
    US77-1876743
    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

    • Retail space

    Property Details for 108 Elk Dr

    Year built
    2014
    Construction
    CONCRETE
    Lot size
    0.26 lot acres
    Property size
    2,400 SF
    Property type
    Retail space
    APN
    463-14-03-0017
    APU
    46314030017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $440,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $585,000
      6.5%
      $540,000
      7%
      $500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $465,000
      Market price range: $234k - $701k
      AI Estimate
      $360,000
      Market price range: $150k - $592k

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

    Location Insight

    • Map
    • Local Demand
    City
    Murrells Inlet
    County
    Horry
    State
    South Carolina
    Longitude
    -79.0278
    Latitude
    33.5894
    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
    $3,693
    $1,699
    $14,945
    $16,644
    -
    $28,310
    $323,700
    $352,010

    Comparable in this City

    • Value Estimation
      $90,000
      10,240 SF

      12052 Hwy 17th Byp

      RETAIL STORES (PERSONAL SERVICES) • 10,240 SF
      12052 Hwy 17th Byp, Murrells Inlet, SC 29576-9341
      View Details
    • Value Estimation
      $450,000
      943 SF

      211 Atlantic Ave

      RETAIL STORES (PERSONAL SERVICES) • 943 SF
      211 Atlantic Ave, Murrells Inlet, SC 29576-8105
      View Details
    • Value Estimation
      $440,000
      492 SF

      11534 Hwy 17th Byp

      RETAIL STORES (PERSONAL SERVICES) • 492 SF
      11534 Hwy 17th Byp, Murrells Inlet, SC 29576-9330
      View Details
    • Value Estimation
      $465,000
      1,440 SF

      2761 Hwy 17bus

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      2761 Hwy 17bus, Murrells Inlet, SC 29576-7620
      View Details
    • Value Estimation
      $835,000
      4,138 SF

      3418 Hwy 17bus

      RETAIL STORES (PERSONAL SERVICES) • 4,138 SF
      3418 Hwy 17bus, Murrells Inlet, SC 29576
      View Details
    • Value Estimation
      $505,000
      3,200 SF

      2021 Hwy 17bus

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      2021 Hwy 17bus, Murrells Inlet, SC 29576
      View Details

    Similar Nearby for Sale

    • $2,990,000
      16,000 SF

      Prime Murrells Inlet Retail Opportunity

      2.9-acre commercial property with redevelopment potential near Marsh Walk.
      3986 Highway 17 Business, Garden City, SC 29576
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    • $750,000

      Retail Opportunity in Murrells Inlet

      Commercial site suitable for restaurant, medical, or retail use.
      4540 Highway 17 S, Murrells Inlet, SC 29576
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    • $1,350,000
      2,537 SF

      Retail Property on Highway 17

      Prime retail location in Murrells Inlet, SC for sale.
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    • $129,900
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      Murrells Inlet Bar For Sale

      Established bar in Murrells Inlet, SC, near Garden City Pier.
      107 Atlantic Ave, Murrells Inlet, SC 29576
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    • $2,844,000
      9,563 SF

      Murrells Inlet Cracker Barrel Investment

      NNN leased Cracker Barrel with long term passive income.
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    • $105,000
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      Highway 17 Retail Opportunity

      Murrells Inlet, SC CBD Business
      4450 Highway 17, Murrells Inlet, SC 29576
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Pad in Murrells Inlet

      Retail pad for lease in a fast-growing Myrtle Beach MSA.
      Murrells Inlet, SC 29576
      View Details
    • New
      $1,950 /Mo
      1,250 SF

      High Visibility Retail Space Available

      Retail space in high-traffic area, ready for your business.
      12270 Highway 17 Byp, Murrells Inlet, SC 29576
      View Details
    • $3,038 /Mo
      1,519 SF

      Highway 17 Retail Space Available

      1519 SF retail or office space with drive-through in Murrells Inlet.
      3944 Highway 17 South, Murrells Inlet, SC 29576
      View Details
    • $1,650 /Mo
      900 SF

      Highway 17 Retail/Office Space

      900 SF retail or office space on Highway 17.
      3940 Highway 17 South, Murrells Inlet, SC 29576
      View Details
    • $13 SF/Yr
      12,045 SF

      Retail Space in Murrells Inlet

      Retail space available for lease in Murrells Inlet, SC.
      788 Inlet Square Dr, Murrells Inlet, SC 29576
      View Details
    • $24 SF/Yr
      1,519 SF

      Retail Space in Murrells Inlet

      Retail space available for lease in Murrells Inlet.
      3956 Highway 17, Murrells Inlet, SC 29576
      View Details
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    108 Elk Dr
    Murrells Inlet, SC 29576-9127
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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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