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    Property profile & analytics

    128 Elk Dr Murrells Inlet, SC 29576-9385

    • Warehouses
    • 9,632 SF
    • 0.82 lot acres
    OFF-MARKET
    Value Estimations
    $1,125,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2088088
    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

    • Warehouses

    Property Details for 128 Elk Dr

    Year built
    2007
    Lot size
    0.82 lot acres
    Property size
    9,632 SF
    Property type
    Warehouses
    APN
    463-13-04-0020
    APU
    46313040020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,271,000
      Market price range: $1.05M - $2.93M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,760,000
      Current use
      RETAIL STORES
      $1,785,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Murrells Inlet
    County
    Horry
    State
    South Carolina
    Longitude
    -79.0275
    Latitude
    33.591
    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
    $5,358
    $21,607
    $26,965
    -
    $89,300
    $480,800
    $570,100

    Comparable in this City

    • Value Estimation
      $1,760,000
      10,050 SF

      11544 Hwy 17th Byp

      WAREHOUSE, STORAGE • 10,050 SF
      11544 Hwy 17th Byp, Murrells Inlet, SC 29576
      View Details
    • Value Estimation by Request
      2,400 SF

      11772 Frontage Rd

      Distribution properties • 2,400 SF
      11772 Frontage Rd, Murrells Inlet, SC 29576
      View Details
    • Value Estimation
      $690,000
      4,200 SF

      897 Gator Ln

      MINI-WAREHOUSE, STORAGE • 4,200 SF
      897 Gator Ln, Murrells Inlet, SC 29576-6390
      View Details
    • Value Estimation
      $875,000
      13,000 SF

      4913 Hwy 17

      MINI-WAREHOUSE, STORAGE • 13,000 SF
      4913 Hwy 17, Murrells Inlet, SC 29576
      View Details
    • Value Estimation
      $1,165,000
      15,352 SF

      4983 Hwy 17

      MINI-WAREHOUSE, STORAGE • 15,352 SF
      4983 Hwy 17, Murrells Inlet, SC 29576-5124
      View Details
    • Value Estimation
      $590,000
      7,200 SF

      4750 Hwy 17

      MINI-WAREHOUSE, STORAGE • 7,200 SF
      4750 Hwy 17, Murrells Inlet, SC 29576-5056
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Myrtle Beach Investment Opportunity

      Campus property with office, warehouse, and surplus land in Myrtle Beach.
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    • $950,000

      Highway 17 Commercial Land

      2.10 acres with 319' frontage on Highway 17 Bypass.
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      Prime Location in Murrells Inlet

      Commercial land suitable for retail, restaurant, or medical office development.
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    • $999,900
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      Highway Frontage Commercial Lot

      Commercial land with high visibility and water views in Murrells Inlet.
      N/W Highway 17 Byp, Murrells Inlet, SC 29576
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    • $619,000
      1.49 Acres

      Commercial Land in Murrells Inlet

      1.49 acres of commercial land for sale in Murrells Inlet.
      Inlet Square Dr, Murrells Inlet, SC 29576
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    • $149,900
      0.60 Acres

      Marsh Front Residential Lot

      Residential lot suitable for single-family home, duplex, or mobile home.
      Tbd Surfwind Dr, Murrells Inlet, SC 29576
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      1,625 SF

      New Flex Development in Murrells

      New construction flex space with build-to-suit options available.
      4960 Highway 17, Murrells Inlet, SC 29576
      View Details
    • $3,000 /Mo
      2,200 SF

      Office Warehouse in Murrells Inlet

      Office warehouse space for lease with great location and visibility.
      11772 S Highway 17 Byp, Murrells Inlet, SC 29576
      View Details
    • $16 SF/Yr
      1,500 SF

      Murrells Inlet Office Space For Lease

      1,500 SF Office, Prime Location, Available Now
      11947 Grandhaven Dr, Murrells Inlet, SC 29576
      View Details
    • $3,300 /Mo
      1,800 SF

      Versatile Commercial Space in Murrells

      1,800 sq ft commercial space suitable for retail/office.
      11871 Plaza Dr, Murrells Inlet, SC 29576
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    • $525 /Mo

      Professional Office Suite in Murrells

      Executive office suite with shared amenities on Highway 17.
      3955 Highway 17, Murrells Inlet, SC 29576
      View Details
    • Contact for pricing
      2,420 SF

      Office Space in Murrells Inlet

      2,420 SF office space available for rent 8/15/24.
      600 Garden City Connector, Murrells Inlet, SC 29576
      View Details
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    Murrells Inlet, SC 29576-9385
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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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