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    Property profile & analytics

    1623 Hwy 501 Myrtle Beach, SC 29577-9749

    • Warehouses
    • 12,346 SF
    • 3.64 lot acres
    OFF-MARKET
    Value Estimations
    $2,530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1735667
    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 1623 Hwy 501

    Year built
    1991
    Construction
    CONCRETE
    Lot size
    3.64 lot acres
    Property size
    12,346 SF
    Zone code
    C3
    Property type
    Warehouses
    APN
    425-15-03-0035
    APU
    42515030035

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,205,000
      6.5%
      $2,960,000
      7%
      $2,750,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,841,000
      Market price range: $1.40M - $2.84M
      AI Estimate
      $1,790,000
      Market price range: $541k - $1.79M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,855,000
      Current use
      MEDICAL BUILDING
      $3,720,000
      Change: +100% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,505,000
      Change: +89% Conversion: Difficult
      OFFICE BUILDING
      $3,015,000
      Change: +62% Conversion: Difficult
      RESTAURANT
      $2,855,000
      Change: +54% Conversion: Difficult
      RETAIL STORES
      $2,210,000
      Change: +19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9025
    Latitude
    33.6992
    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
    $19,793
    $57,882
    $14,566
    $72,448
    -
    $1,084,640
    $2,180,800
    $3,265,440

    Comparable in this City

    • Value Estimation by Request

      1512 Executive Ave

      Distribution properties
      1512 Executive Ave, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $1,460,000
      8,500 SF

      741 Commerce Pl

      WAREHOUSE, STORAGE • 8,500 SF
      741 Commerce Pl, Myrtle Beach, SC 29577-6595
      View Details
    • Value Estimation
      $3,075,000
      15,000 SF

      908 Jackson St

      WAREHOUSE, STORAGE • 15,000 SF
      908 Jackson St, Myrtle Beach, SC 29577-3569
      View Details
    • Value Estimation
      $885,000
      5,020 SF

      1654 Dividend Loop

      WAREHOUSE, STORAGE • 5,020 SF
      1654 Dividend Loop, Myrtle Beach, SC 29577-1876
      View Details
    • Value Estimation
      $1,235,000
      7,200 SF

      1317 Enterprise Ave

      WAREHOUSE, STORAGE • 7,200 SF
      1317 Enterprise Ave, Myrtle Beach, SC 29577-6545
      View Details
    • Value Estimation
      $1,350,000
      12,100 SF

      Seaboard St

      WAREHOUSE, STORAGE • 12,100 SF
      Seaboard St, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,550 SF

      Highway Commercial Property with Warehouse

      One-acre mixed-use property with office and warehouse space for sale.
      3013 Church St, Myrtle Beach, SC 29577
      View Details
    • $3,750,000
      24,000 SF

      Highway Frontage Office/Warehouse Space

      24,000 SF office/warehouse on 1.92 acres with highway frontage.
      3005 N Highway 17 Byp, Myrtle Beach, SC 29577
      View Details
    • $4,900,000
      0.50 Acres

      1901 Ocean Blvd

      Hotels • 0.50 Acres
      1901 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $3,950,000
      17,372 SF

      Myrtle Beach Hospitality Opportunity

      Turnkey hospitality property near the ocean and Sky Wheel.
      300 10Th Ave N, Myrtle Beach, SC 29577
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    • $558,000

      Multifamily Income Property in Myrtle Beach

      Multifamily property with consistent rental demand in central Myrtle Beach.
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      Myrtle Beach Multifamily Investment

      Six-unit apartment building in Myrtle Beach's downtown rental market.
      600 17Th Ave N, Myrtle Beach, SC 29577
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    Similar Nearby for Lease

    • $12 SF/Yr
      14,038 SF

      Myrtle Beach Industrial Space Available

      Class A industrial space in Myrtle Beach's North Industrial Park.
      1330 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • $5,833 /Mo

      Office/Warehouse Space in North Industrial

      5,000 SF office/warehouse space for lease in Myrtle Beach.
      1460 Dividend Loop, Myrtle Beach, SC 29577
      View Details
    • $7,916 /Mo
      9,500 SF

      Myrtle Beach Warehouse/Distribution Space

      Warehouse/distribution space for lease near Myrtle Beach International Airport.
      2525 Vacation Dr, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      6,970 SF

      Myrtle Beach Showroom/Warehouse Space

      Showroom and warehouse space available in Myrtle Beach, SC.
      1330 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      16,538 SF

      Myrtle Beach Warehouse/Showroom Space

      Warehouse and showroom space available for lease in Myrtle Beach.
      1310 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing

      Industrial Space in Myrtle Beach

      Warehouse and office space in a prime Myrtle Beach location.
      1410 17Th Ave S, Myrtle Beach, SC 29577
      View Details
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    1623 Hwy 501
    Myrtle Beach, SC 29577-9749
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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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