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

    1240 Pne St Conway, SC 29526-3402

    • Hotels
    • 19,880 SF
    • 0.80 lot acres
    OFF-MARKET
    Last Sale
    Nov 19, 2024
    Value Estimations
    $2,730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1718143
    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

    • Conway Express Inn / Hotel & Motel
    • Days Inn Conway / Hotel & Motel
    • Days Inn-Myrtle Beach / Hotel & Motel

    Property Details for 1240 Pne St

    Year built
    1977
    Lot size
    0.80 lot acres
    Property size
    19,880 SF
    Zone code
    HC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    338-11-04-0026
    APU
    33811040026

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,125,000
      6.5%
      $1,960,000
      7%
      $1,820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,078,000
      Market price range: $3.08M - $7.98M
      AI Estimate
      $3,146,000
      Market price range: $1.58M - $19.0M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Horry
    State
    South Carolina
    Longitude
    -79.0617
    Latitude
    33.8453
    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
    $20,910
    $52,464
    $73,374
    -
    $348,500
    $874,400
    $1,222,900

    Comparable in this City

    • Value Estimation
      $6,750,000
      16,752 SF

      University Plz Dr

      HOTEL/MOTEL • 16,752 SF
      University Plz Dr, Conway, SC 29526
      View Details
    • Value Estimation
      $2,405,000
      21,098 SF

      1004 Waccamaw Dr

      HOTEL/MOTEL • 21,098 SF
      1004 Waccamaw Dr, Conway, SC 29526-8519
      View Details
    • Value Estimation
      $3,490,000
      27,564 SF

      2480 Hwy 501

      HOTEL/MOTEL • 27,564 SF
      2480 Hwy 501, Conway, SC 29526-9527
      View Details
    • Value Estimation
      $910,000
      7,349 SF

      1240 Hwy 501st Business

      HOTEL/MOTEL • 7,349 SF
      1240 Hwy 501st Business, Conway, SC 29526-9590
      View Details
    • Value Estimation
      $6,750,000
      21,776 SF

      2376 Hwy 501

      HOTEL/MOTEL • 21,776 SF
      2376 Hwy 501, Conway, SC 29526-9526
      View Details
    • Value Estimation
      $2,105,000
      18,490 SF

      Hwy 501

      HOTEL/MOTEL • 18,490 SF
      Hwy 501, Conway, SC 29526
      View Details

    Similar Nearby for Sale

    • $699,000
      6.46 Acres

      Conway Land Near Highway 22

      Commercial land near Highway 22, close to future event center.
      Tbd Hwy 319, Conway, SC 29526
      View Details
    • $740,000
      1,184 SF

      Turn Key Building For Sale

      Turn key building in historic district with high foot traffic.
      337 Main St, Conway, SC 29526
      View Details
    • $299,500
      1,482 SF

      Location

      Location! High visibility
      2183 Highway 544, Conway, SC 29526
      View Details
    • $45,000
      0.23 Acres

      Riverfront Residential Lot in Conway

      Residential lot in Black Water Cove, near Conway and Highway 22.
      317 Cypress Flat Ct, Conway, SC 29526
      View Details
    • $198,294
      0.39 Acres

      Lakefront Homesite in Golf Community

      0.39-acre lake lot in Wild Wing Plantation.
      1013 Clamour Ct, Conway, SC 29526
      View Details
    • $70,000
      0.50 Acres

      Wooded Residential Lot Near Conway

      Spacious homesite near Conway, SC, with mature trees and privacy.
      3 Old Reaves Ferry Rd, Conway, SC 29526
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail-Restaurant Duplex in Conway

      Retail-restaurant duplex with drive-thru, high traffic location.
      1650 Church St, Conway, SC 29526
      View Details
    • $16 SF/Yr
      3,560 SF

      Downtown Conway Office Space Available

      Two-story office space in Conway's central business district.
      205 Beaty St, Conway, SC 29526
      View Details
    • $13,696 /Mo
      1,675 SF

      Warehouse Under Construction, Conway, SC

      Warehouse under construction, heavy industrial zoning, delivery Q3 2026.
      155 East Cox Fry Dr, Conway, SC 29526
      View Details
    • Contact for pricing

      Commercial Land in Conway, SC

      1.46 acre commercial land for rent in Conway, SC.
      Church St & Blueblack Hering Way, Conway, SC 29526
      View Details
    • Contact for pricing

      Restaurant Space with Outdoor Patio

      2,528 SF restaurant space with covered outdoor patio.
      201 Graduate Rd, Conway, SC 29526
      View Details
    • $8 SF/Yr

      Industrial Space in Atlantic Center

      Industrial space for lease in established business park.
      370 Allied Dr, Conway, SC 29526
      View Details

    Property Visit Statistics

    • Visits by month
      4.0k
    • Visitors by month
      3.7k
    • Avg Time on site
      14 min
    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.
    1240 Pne St
    Conway, SC 29526-3402
    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!