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    Property profile & analytics

    1601 Kings Hwy Myrtle Beach, SC 29577-4512

    • Strip malls
    • 6,937 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Sep 11, 2024
    Value Estimations
    $445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1989486
    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

    • Hungry Howie's Pizza / Pizza Delivery / Pizza Restaurant
    • Shell / Atm / Gas Station
    • ATM (Quik Mart) / Atm

    Property Details for 1601 Kings Hwy

    Year built
    1975
    Construction
    CONCRETE
    Lot size
    0.57 lot acres
    Property size
    6,937 SF
    Zone code
    C2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    443-15-02-0042
    APU
    44315020042

    Description

    This exceptional 1,850-square-foot commercial property, located at 1601 S Kings Hwy in Myrtle Beach, South Carolina, presents a fantastic opportunity for a single-tenant retail or restaurant business. Situated on a 0.62-acre lot, this single-story building offers ample space and visibility. The property is zoned HC-2, providing flexibility for a variety of uses. The entire 1,850 square feet is currently vacant, allowing for immediate occupancy and customization to suit your specific business needs. The property's address is 1601 S Kings Hwy, Myrtle Beach, SC 29577, and its Horry County APN is 4315020042. Its convenient location in Myrtle Beach offers high foot traffic and excellent exposure to potential customers. This is an ideal space for entrepreneurs looking to establish a thriving business in a vibrant coastal community. The property's single-tenant occupancy ensures exclusive use and control, minimizing shared space concerns. The building's single-story design provides easy accessibility and efficient layout. This is a rare opportunity to secure a prime retail or restaurant location in a desirable area of Myrtle Beach. Don't miss out on this chance to establish your business in a high-traffic, high-visibility location. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $395,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $491,000
      Market price range: $271k - $779k

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9042
    Latitude
    33.6751
    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
    $20,979
    $12,347
    $33,326
    -
    $349,650
    $257,700
    $607,350

    Comparable in this City

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      9,360 SF

      811 Kings Hwy

      SHOPPING CENTER, STRIP CENTER • 9,360 SF
      811 Kings Hwy, Myrtle Beach, SC 29577-4414
      View Details
    • Value Estimation
      $950,000
      30,207 SF

      612 Kings Hwy

      SHOPPING CENTER, STRIP CENTER • 30,207 SF
      612 Kings Hwy, Myrtle Beach, SC 29577-4411
      View Details
    • Value Estimation
      $730,000
      13,888 SF

      704 Seaboard St

      SHOPPING CENTER, STRIP CENTER • 13,888 SF
      704 Seaboard St, Myrtle Beach, SC 29577-6513
      View Details
    • Value Estimation
      $390,000
      13,934 SF

      303 Hwy 15

      SHOPPING CENTER, STRIP CENTER • 13,934 SF
      303 Hwy 15, Myrtle Beach, SC 29577-4191
      View Details
    • Value Estimation
      $610,000
      11,610 SF

      408 21st N Ave

      SHOPPING CENTER, STRIP CENTER • 11,610 SF
      408 21st N Ave, Myrtle Beach, SC 29577-3151
      View Details
    • Value Estimation
      $1,425,000
      8,726 SF

      1108 Kings Hwy

      SHOPPING CENTER, STRIP CENTER • 8,726 SF
      1108 Kings Hwy, Myrtle Beach, SC 29577-4503
      View Details

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    1601 Kings Hwy
    Myrtle Beach, SC 29577-4512
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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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