Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1228 Prt Dr Myrtle Beach, SC 29577-6346

    • Warehouses
    • 6,170 SF
    • 1.63 lot acres
    OFF-MARKET
    Last Sale
    Aug 12, 2024
    $1,300,000
    Value Estimations
    $1,300,000
    Show details
    Cap Rate Potential
    7.4%
    Warehouses
    Location Intelligence
    Property ID
    US77-2755932
    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

    • Autohaus Inc / Auto Repair Shop

    Property Details for 1228 Prt Dr

    Year built
    1997
    Construction
    CONCRETE
    Lot size
    1.63 lot acres
    Property size
    6,170 SF
    Zone code
    R-4
    Property type
    Warehouses
    APN
    441-04-03-0024
    APU
    44104030024

    Description

    This exceptional 2,000-square-foot flex space in Myrtle Beach, South Carolina, presents a fantastic opportunity for a variety of businesses. Located at 1228 Port Dr, this single-tenant property sits on a 1.7-acre lot and offers a unique blend of indoor and outdoor space. The building, classified as Class B, is a two-story structure with 111 feet of frontage. The interior boasts a showroom complete with a reception area, two bathrooms, and three private offices. A convenient roll-up garage door in the rear provides easy access for vehicles and equipment. Upstairs, an additional office provides extra workspace. The property is fully fenced, ideal for secure outdoor storage of vehicles or equipment. The zoning is GC. The property's APN is 44104030024. Currently, the entire 2,000 square feet is vacant and ready for immediate occupancy. Annual property taxes are $1.51 per square foot. This property is ideally suited for a trade shop or similar business, and its proximity to Autohaus provides excellent visibility and potential synergy. Don't miss this chance to secure this versatile and well-appointed commercial space in a prime Myrtle Beach location. The zip code is 29577.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,300,000
      ML approach
      $1,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,600,000
      6.5%
      $1,480,000
      7%
      $1,375,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,420,000
      Market price range: $702k - $1.42M
      AI Estimate
      $894,000
      Market price range: $270k - $895k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $930,000
      Current use
      MEDICAL BUILDING
      $1,860,000
      Change: +100% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,750,000
      Change: +89% Conversion: Difficult
      OFFICE BUILDING
      $1,505,000
      Change: +62% Conversion: Difficult
      RESTAURANT
      $1,430,000
      Change: +54% Conversion: Difficult
      RETAIL STORES
      $1,105,000
      Change: +19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9522
    Latitude
    33.691
    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
    $9,334
    $24,450
    $16,374
    $40,824
    -
    $407,500
    $272,900
    $680,400

    Comparable in this City

    • Value Estimation by Request

      1512 Executive Ave

      Distribution properties
      1512 Executive Ave, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $1,460,000
      8,500 SF

      741 Commerce Pl

      WAREHOUSE, STORAGE • 8,500 SF
      741 Commerce Pl, Myrtle Beach, SC 29577-6595
      View Details
    • Value Estimation
      $3,075,000
      15,000 SF

      908 Jackson St

      WAREHOUSE, STORAGE • 15,000 SF
      908 Jackson St, Myrtle Beach, SC 29577-3569
      View Details
    • Value Estimation
      $885,000
      5,020 SF

      1654 Dividend Loop

      WAREHOUSE, STORAGE • 5,020 SF
      1654 Dividend Loop, Myrtle Beach, SC 29577-1876
      View Details
    • Value Estimation
      $1,235,000
      7,200 SF

      1317 Enterprise Ave

      WAREHOUSE, STORAGE • 7,200 SF
      1317 Enterprise Ave, Myrtle Beach, SC 29577-6545
      View Details
    • Value Estimation
      $1,350,000
      12,100 SF

      Seaboard St

      WAREHOUSE, STORAGE • 12,100 SF
      Seaboard St, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Sale

    • $3,750,000
      24,000 SF

      Highway Frontage Office/Warehouse Space

      24,000 SF office/warehouse on 1.92 acres with highway frontage.
      3005 N Highway 17 Byp, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      2,550 SF

      Highway Commercial Property with Warehouse

      One-acre mixed-use property with office and warehouse space for sale.
      3013 Church St, Myrtle Beach, SC 29577
      View Details
    • $4,900,000
      0.50 Acres

      1901 Ocean Blvd

      Hotels • 0.50 Acres
      1901 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $2,200,000
      Pending

      Commercial Land in Myrtle Beach

      Commercial land with potential in the heart of Myrtle Beach.
      406 28Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $2,797,000

      Golden Mile Triplex Investment Opportunity

      Spacious triplex in Myrtle Beach's Golden Mile, steps from the beach.
      213 76Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $1,250,000

      Multifamily Investment Near Myrtle Beach

      16-unit multifamily property near the ocean in Myrtle Beach, SC.
      404 14Th Ave S, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Space in Myrtle Beach

      Warehouse and office space in a prime Myrtle Beach location.
      1410 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • $16 SF/Yr

      Industrial Space in North Park

      15,000 SF industrial space with build-to-suit office options.
      1471 Dividend Loop, Myrtle Beach, SC 29577
      View Details
    • $4,750 /Mo
      4,110 SF

      Versatile Flex Space in Myrtle Beach

      Adaptable commercial space for lease in the Arts & Innovation District.
      716 8Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      21,008 SF

      Myrtle Beach Industrial/Showroom Space

      Premier industrial space with showroom, office, and warehouse areas.
      1330 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      6,970 SF

      Myrtle Beach Showroom/Warehouse Space

      Showroom and warehouse space available in Myrtle Beach, SC.
      1330 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      16,538 SF

      Myrtle Beach Warehouse/Showroom Space

      Warehouse and showroom space available for lease in Myrtle Beach.
      1310 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1228 Prt Dr
    Myrtle Beach, SC 29577-6346
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!