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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Turn key restaurants
1106 Ocean Blvd Myrtle Beach, SC 29577-3755
Entity Owned
15-yr Hold
Free & Clear
Property ID
US77-2058653
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2011
Total area
3,466 SF
Lot
0.28 ac (12,197 SF)
Zoning code
AC3
APN
444-01-02-0002
UPID
US77-2058653
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
mbferriswheel Arcade & Gaming Center Family Recreation Center
-
Water Park Hotel Hotel & Motel
-
Public Restrooms. Public Bathroom
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$609k
Blend (final)
Blend
$640k
Owner & transaction history
City Of Myrtle Beach · 15 yrs held
City Of Myrtle Beach
since 2010
3 recorded transactions
Zoning & alternative use
AC3 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.0M
+30.2%
Office building
$845,000
+5.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Myrtle Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Myrtle Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$800,000
Current use
MEDICAL BUILDING
$1,045,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$845,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$640k
Range $576k – $704k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$185 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,762
Tax year 2023
Assessed value
$126,277
Assessed 2023
Previous assessed
$126,277
+0.0% YoY
Effective rate
28.32%
On assessed value
Assessed land
$72,450
Assessed improvement
$53,827
Land market value
$1,260,000
Improvement market value
$1,333,300
Total market value
$2,593,300
Applied tax rate
893.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2011
Heating
HOT WATER
Cooling
YES
Buildings
2
Stories
1
Total area
3,466 SF
Lot
0.28 ac (12,197 SF)
Zoning code
AC3
APN
444-01-02-0002
UPID
US77-2058653
Jurisdiction
HORRY
Zoning & alternative use
AC3 · Myrtle Beach, SC
Zoning AC3 · permitted uses
AC3 · Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Myrtle Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$800,000
MEDICAL BUILDING
Est. value
$1.0M
OFFICE BUILDING
Est. value
$845,000
RESTAURANT Current
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2011
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
City Of Myrtle Beach
Entity
Free & Clear · 15 yrs held
Mailing address
1102 CHEROKEE RD, FLORENCE, SC 29501-4544
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2010
—
City Of Myrtle Beach
Floriemom LLC
Grant Deed
related
—
Sep 28, 2010
—
Floriemom LLC
Fme LLC
Grant Deed
related
—
Sep 9, 2010
—
Fme LLC
Florence M Ervin
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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