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    121 Gtwy Rd Myrtle Beach, SC 29579-5400

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    121 Gtwy Rd Myrtle Beach, SC 29579-5400

    View on Map
    • Strip malls
    • 13,000 SF
    • 1.60 lot acres
    Off-Market
    Last Sale Dec 21, 2022
    Property ID
    US77-1827734
    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
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • RKM Training / Training Center / Sports School
    • Pure Life Massage / Gym & Fitness Center / Alternative Medicine Practice

    Property Details for 121 Gtwy Rd

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    1.60 lot acres
    Property size
    13,000 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    399-12-01-0099
    APU
    39912010099

    Description

    Grand Plaza offers 13,500 square feet of Class B retail space in a single, one-story building constructed in 2007. Located in the rapidly growing Carolina Forest area of Horry County, this property enjoys high visibility and accessibility due to its location just off Carolina Forest Boulevard, adjacent to Carolina Forest Elementary School, and with convenient access to Highway 501 and Interstate 31. The center features a total of seven suites, with a minimum divisible space of 1,500 square feet and a maximum contiguous space of 3,000 square feet. Currently, there is at least one suite available. Ample parking is provided with 45 spaces available for tenants and customers. This property presents a unique opportunity for businesses seeking to capitalize on the expanding population and strong residential base of the Carolina Forest area. The property's strategic location ensures high traffic volume and excellent exposure to potential customers. The building's layout is designed to accommodate a variety of retail uses, making it an ideal location for businesses of all sizes. Invest in a thriving community with this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $510,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $564,000
      Market price range: $444k - $1.24M

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9566
    Latitude
    33.7638
    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
    $20,909
    $42,170
    $63,079
    -
    $348,480
    $939,600
    $1,288,080

    Comparable in this City

    • Value Estimation
      $1,700,000
      11,220 SF

      Towne Ctr Pkwy

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      View Details
    • Value Estimation
      $1,430,000
      28,667 SF

      3432 Waccamaw Blvd

      SHOPPING CENTER, STRIP CENTER • 28,667 SF
      3432 Waccamaw Blvd, Myrtle Beach, SC 29579-9465
      View Details
    • Value Estimation
      $620,000
      10,880 SF

      309 Bush Dr

      SHOPPING CENTER, STRIP CENTER • 10,880 SF
      309 Bush Dr, Myrtle Beach, SC 29579-7315
      View Details
    • Value Estimation
      $1,745,000
      32,385 SF

      100 Legends Rd

      SHOPPING CENTER, STRIP CENTER • 32,385 SF
      100 Legends Rd, Myrtle Beach, SC 29579-7076
      View Details
    • Value Estimation
      $530,000
      9,648 SF

      4006 Postal Way

      SHOPPING CENTER, STRIP CENTER • 9,648 SF
      4006 Postal Way, Myrtle Beach, SC 29579-3527
      View Details
    • Value Estimation
      $14,790,000
      59,360 SF

      142 Towne Ctr Pkwy

      SHOPPING CENTER, STRIP CENTER • 59,360 SF
      142 Towne Ctr Pkwy, Myrtle Beach, SC 29579
      View Details

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    Similar Nearby for Lease

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      Retail Space in Kroger Anchored Center

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      Publix Anchored Shopping Center

      Fully leased shopping center in a rapidly growing community.
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      Retail Space Near Tanger Outlets

      Vanilla box retail space available in high-traffic Myrtle Beach corridor.
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      Carolina Forest Retail Outlet Space

      Retail outlet in high-traffic Carolina Forest/Myrtle Beach corridor.
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      Retail Space on Highway 501

      Highly visible retail space on the main corridor.
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      View Details
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      Retail Opportunity in Conway, SC

      New retail development with drive-thru, near Myrtle Beach.
      501 & Myrtle Rdg Dr, Conway, SC 29579
      View Details
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    Myrtle Beach, SC 29579-5400
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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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