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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Prospect Rd Loris, SC 29569-8216

    • Investment properties
    • 1,670 SF
    • 8.75 lot acres
    OFF-MARKET
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    5.1%
    Investment properties
    Location Intelligence
    Property ID
    US77-1929471
    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

    • Investment properties

    Property Details for 115 Prospect Rd

    Year built
    1921
    Lot size
    8.75 lot acres
    Property size
    1,670 SF
    Zone code
    R-Z
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    176-04-03-0001
    APU
    17604030001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $355,000
      6.5%
      $325,000
      7%
      $305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $398,000
      Market price range: $255k - $1.32M
      AI Estimate
      $296,000
      Market price range: $246k - $758k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $645,000
      Current use
      AUTO REPAIR, GARAGE
      $530,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Loris
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8765
    Latitude
    34.0756
    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
    $0.00
    $3,900
    $379
    $4,279
    -
    $137,130
    $68,500
    $205,630

    Comparable in this City

    • Value Estimation
      $405,000
      42.75 Acres

      3073 Alice Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 42.75 Acres
      3073 Alice Dr, Loris, SC 29569-6553
      View Details
    • Value Estimation
      $545,000
      6,756 SF

      915 Mariners Lndg

      OFFICE/RESIDENTIAL (MIXED USE) • 6,756 SF
      915 Mariners Lndg, Loris, SC 29569
      View Details
    • Value Estimation
      $300,000
      1,344 SF

      4177 Woodlawn Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,344 SF
      4177 Woodlawn Dr, Loris, SC 29569-6548
      View Details
    • Value Estimation
      $355,000
      384 SF

      3418 Cedar St

      OFFICE/RESIDENTIAL (MIXED USE) • 384 SF
      3418 Cedar St, Loris, SC 29569
      View Details
    • Value Estimation by Request
      16.03 Acres

      Loris, SC 29569

      OFFICE/RESIDENTIAL (MIXED USE) • 16.03 Acres
      Loris, SC 29569
      View Details
    • Value Estimation
      $420,000
      4.60 Acres

      Hunters Trl

      OFFICE/RESIDENTIAL (MIXED USE) • 4.60 Acres
      Hunters Trl, Loris, SC 29569
      View Details

    Similar Nearby for Sale

    • $389,900
      2,400 SF

      Renovated Live-Work Space on Acreage

      Remodeled live-work space on 1.5 acres, suitable for various uses.
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      View Details
    • $50,000
      1.00 Acre

      Wooded Residential Lot in Loris

      One-acre wooded lot suitable for stick-built, modular, or manufactured home.
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    • $4,444,000
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      306 Acre Farm in Loris

      306 acre farm located in Loris, South Carolina.
      199 Dove Rd, Loris, SC 29569
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    • $69,900
      0.55 Acres

      Loris, SC Acreage For Sale

      0.55-acre lot in Loris, SC with no HOA restrictions.
      Tbd Liberty Church Rd, Loris, SC 29569
      View Details
    • $399,900
      22.00 Acres

      Loris, SC Vacant Land Parcel

      22 acres of land perfect for estate, farm, or development.
      Tbd Myrtle Dr West, Loris, SC 29569
      View Details
    • $99,900
      1.14 Acres

      Residential Lot Ready for Development

      1.14 acre lot perfect for local builder or homeowner.
      1708 Heritage Rd, Loris, SC 29569
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      32,500 SF

      Loris Warehouse Space Available

      32,500 SF warehouse space for lease in Loris, SC.
      4615 Broad St, Loris, SC 29569
      View Details
    • $0.83 SF/Yr

      Land For Rent Loris

      Land available for rent in Loris, South Carolina.
      4613 Broad St, Loris, SC 29569
      View Details
    • $8 SF/Yr
      67,913 SF

      Climate-Controlled Warehouse Space Available

      Industrial building with climate-controlled warehouse and office space for lease.
      4232 Meadow St, Loris, SC 29569
      View Details
    Request Owner's contact information
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    115 Prospect Rd
    Loris, SC 29569-8216
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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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