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

    1229 Shine Ave Myrtle Beach, SC 29577-1508

    • Office buildings
    • 2,830 SF
    • 1.94 lot acres
    OFF-MARKET
    Last Sale
    Sep 03, 2020
    $850,000
    Value Estimations
    $1,035,000
    Show details
    Cap Rate Potential
    2.4%
    Office buildings
    Location Intelligence
    Property ID
    US77-0661133
    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

    • 1229 Shine / Restaurant

    Property Details for 1229 Shine Ave

    Year built
    1970
    Construction
    CONCRETE
    Lot size
    1.94 lot acres
    Property size
    2,830 SF
    Property type
    Office buildings
    APN
    442-15-03-0004
    APU
    44215030004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,040,000
      Market price range: $500k - $1.04M
      AI Estimate
      $1,043,000
      Market price range: $290k - $1.04M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $690,000
      Current use
      COMMERCIAL (GENERAL)
      $1,625,000
      Change: +135% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,070,000
      Change: +55% Conversion: Difficult
      MEDICAL BUILDING
      $855,000
      Change: +23% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9376
    Latitude
    33.6725
    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
    $14,174
    $43,103
    $8,778
    $51,881
    -
    $718,380
    $146,300
    $864,680

    Comparable in this City

    • Value Estimation by Request
      1,500 SF

      609 18th N Ave

      OFFICE BUILDING • 1,500 SF
      609 18th N Ave, Myrtle Beach, SC 29577-3508
      View Details
    • Value Estimation
      $1,280,000
      7,074 SF

      1131 48th N Ave

      OFFICE BUILDING • 7,074 SF
      1131 48th N Ave, Myrtle Beach, SC 29577-5439
      View Details
    • Value Estimation by Request
      1,748 SF

      606 16th N Ave

      OFFICE BUILDING • 1,748 SF
      606 16th N Ave, Myrtle Beach, SC 29577-3501
      View Details
    • Value Estimation by Request
      1,785 SF

      1390 Cannon Rd

      OFFICE BUILDING • 1,785 SF
      1390 Cannon Rd, Myrtle Beach, SC 29577-5548
      View Details
    • Value Estimation
      $840,000
      3,189 SF

      1330 Howard Ave

      OFFICE BUILDING • 3,189 SF
      1330 Howard Ave, Myrtle Beach, SC 29577-1418
      View Details
    • Value Estimation by Request
      540 SF

      1705 Oak St

      OFFICE BUILDING • 540 SF
      1705 Oak St, Myrtle Beach, SC 29577-3580
      View Details

    Similar Nearby for Sale

    • $1,799,000
      9,959 SF

      Myrtle Beach Professional Office Park

      Centrally located office park with medical/professional office space.
      710 21St Ave N, Myrtle Beach, SC 29577
      View Details
    • $2,995,000

      Myrtle Beach Office Building For Sale

      Two-story office building in Myrtle Beach's Oleander Dr office district.
      4589 Oleander Dr, Myrtle Beach, SC 29577
      View Details
    • $2,995,000
      9,834 SF

      Myrtle Beach Office Building For Sale

      Two-story office building in Myrtle Beach's Oleander Dr office district.
      4598 Oleander Dr, Myrtle Beach, SC 29577
      View Details
    • New
      $1,249,900
      4,400 SF

      Myrtle Beach Office Investment Opportunity

      Well-maintained office building with two fully leased units.
      4605 Oleander Dr, Myrtle Beach, SC 29577
      View Details
    • $895,000
      1.00 Acre

      Myrtle Beach Commercial Property

      1 Acre, 2,550 SF Office Space
      3013 Church St, Myrtle Beach, SC 29577
      View Details
    • $395,000
      2,500 SF

      Myrtle Beach Executive Office Suites

      Prime Location, Two Units, $395,000
      1551 21St Ave, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Lease

    • $324 /Mo
      4,985 SF

      611 Burroughs And Chapin Blvd

      Office Properties & Spaces • 4,985 SF
      611 Burroughs And Chapin Blvd, Myrtle Beach, SC 29577
      View Details
    • $16 SF/Yr
      25,196 SF

      Office Space in Myrtle Beach

      Available office space for rent in Myrtle Beach, SC.
      1900 Mr Joe White Ave, Myrtle Beach, SC 29577
      View Details
    • $1,000 /Mo
      780 SF

      Myrtle Beach Office Space Available

      Office space for lease in central Myrtle Beach location.
      1803 N Oak St, Myrtle Beach, SC 29577
      View Details
    • $3,250 /Mo
      2,400 SF

      Myrtle Beach Office Space Available

      Office space for rent in Myrtle Beach, South Carolina.
      1455 Commerce Pl, Myrtle Beach, SC 29577
      View Details
    • $13 SF/Yr
      36,905 SF

      Village Square Retail Space

      Myrtle Beach Creative Office, 22,065 SF
      4025 Kings Hwy, Myrtle Beach, SC 29577
      View Details
    • $3,200 /Mo
      2,000 SF

      Class A Office Space

      Second-floor office space in Myrtle Beach professional district.
      4610 Oleander Dr, Myrtle Beach, SC 29577
      View Details
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    1229 Shine Ave
    Myrtle Beach, SC 29577-1508
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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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