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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Office buildings
1605 Madison Dr North Myrtle Beach, SC 29582-3903
Entity Owned
5-yr Hold
Free & Clear
Property ID
US77-1989404
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
CONCRETE
Total area
2,432 SF
Lot
0.36 ac (15,682 SF)
Zoning code
NC
APN
357-11-04-0015
UPID
US77-1989404
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Doggie Style Grooming Pet Grooming Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$795k
CAP Approach
CAP
$490k
Comparable Approach
Comparable
$634k
Blend (final)
Blend
$610k
Owner & transaction history
Elliott Long Term Growth LLC · 5 yrs held
Elliott Long Term Growth LLC
since 2020
Last sale
$450,000
2 recorded transactions
Zoning & alternative use
NC · North Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$940,000
+72.4%
Retail stores
$895,000
+63.9%
Auto repair, garage
$770,000
+40.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs North Myrtle Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Myrtle Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$805,000
ML approach
$795,000
CAP Approach
CAP Return
Estimation
6%
$530,000
6.5%
$490,000
7%
$455,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$545,000
Current use
COMMERCIAL (GENERAL)
$940,000
Change: +72% · Conversion: Easy
RETAIL STORES
$895,000
Change: +64% · Conversion: Moderate
AUTO REPAIR, GARAGE
$770,000
Change: +41% · Conversion: Difficult
MEDICAL BUILDING
$735,000
Change: +34% · Conversion: Easy
WAREHOUSE, STORAGE
$445,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±10% · vs last sale $450k (Dec 1 2020)
Last sale anchor
$450k
Dec 1 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$251 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,191
Tax year 2023
Assessed value
$26,996
Assessed 2023
Effective rate
22.93%
On assessed value
Assessed land
$13,154
Assessed improvement
$13,842
Land market value
$219,240
Improvement market value
$230,700
Total market value
$449,940
Applied tax rate
550.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
SOLAR
Cooling
CENTRAL
Total area
2,432 SF
Lot
0.36 ac (15,682 SF)
Zoning code
NC
APN
357-11-04-0015
UPID
US77-1989404
Jurisdiction
HORRY
Zoning & alternative use
NC · North Myrtle Beach, SC
Zoning NC · permitted uses
NC · North Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Myrtle Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$545,000
COMMERCIAL (GENERAL)
Est. value
$940,000
RETAIL STORES
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$770,000
MEDICAL BUILDING
Est. value
$735,000
WAREHOUSE, STORAGE
Est. value
$445,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
CONCRETE
Heating
SOLAR
Cooling
Yes
Lot
0.36 ac
Current owner
From public records · entity-resolved
Elliott Long Term Growth LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 3715, NORTH MYRTLE BEACH, SC 29582-0715
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2020
$450,000
Elliott Long Term Growth LLC
Terry W White SR.
Warranty Deed
—
Dec 1, 2020
$185,000
Terry W White SR.
Carolyn Hardwick
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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