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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Warehouses
1705 Madison Dr North Myrtle Beach, SC 29582-4027
Entity Owned
15-yr Hold
Absentee Owner
Free & Clear
Property ID
US77-2773509
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Construction
STEEL FRAME
Total area
2,708 SF
Lot
0.21 ac (9,148 SF)
Zoning code
NC
APN
357-10-03-0034
UPID
US77-2773509
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
-
Vereen Vacation Rental Services Vacation Rental Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$531k
Blend (final)
Blend
$565k
Owner & transaction history
Condolux INC · 15 yrs held
Condolux INC
since 2011
7 recorded transactions
Zoning & alternative use
NC · North Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$855,000
+72.8%
Medical building
$815,000
+64.7%
Office building
$610,000
+22.6%
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
by Request
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$495,000
Current use
AUTO REPAIR, GARAGE
$855,000
Change: +73% · Conversion: Easy
MEDICAL BUILDING
$815,000
Change: +65% · Conversion: Difficult
OFFICE BUILDING
$610,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
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
$209 / 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
$2,841
Tax year 2023
Assessed value
$12,385
Assessed 2023
Effective rate
22.94%
On assessed value
Assessed land
$7,452
Assessed improvement
$4,933
Land market value
$126,000
Improvement market value
$117,700
Total market value
$243,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1968
Construction
STEEL FRAME
Heating
NONE
Total area
2,708 SF
Lot
0.21 ac (9,148 SF)
Zoning code
NC
APN
357-10-03-0034
UPID
US77-2773509
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
WAREHOUSE, STORAGE Current
Est. value
$495,000
AUTO REPAIR, GARAGE
Est. value
$855,000
MEDICAL BUILDING
Est. value
$815,000
OFFICE BUILDING
Est. value
$610,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
1968
Construction
STEEL FRAME
Heating
NONE
Lot
0.21 ac
Current owner
From public records · entity-resolved
Condolux INC
Entity
Free & Clear · 15 yrs held
Mailing address
1504 MAGNOLIA DR, NORTH MYRTLE BEACH, SC 29582-6126
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2025
—
Palmetto Sweepers 843 LLC
—
Deed
related
$250,000 · First Palmetto
Sep 5, 2017
—
Palmetto Linens Of Sc INC
—
Deed
related
$180,000 · Elliott Larry
Mar 11, 2011
—
Condolux INC
Brown Investments LLC
Grant Deed
related
—
Nov 29, 2007
$290,000
Brown Investments LLC
Branch,w Price
Grant Deed
$246,500 · Crescent Bk
Oct 4, 2005
$280,000
Branch,w P
Jerry G Turner
Grant Deed
$224,000 · Beach First Nat'l Bk
Sep 6, 2005
$225,000
Turner,jerry G
Arthur E Jordan JR.
Grant Deed
$405,000 · Beach First Nat'l Bk
—
—
Palmetto Linens Of Sc INC
—
Deed Of Trust
related
$180,000 · Elliott Larry
—
—
Branch,w Price
—
Deed Of Trust
related
$477,764 · Beach First Nat'l Bk
—
—
Branch,w Price
—
Deed Of Trust
related
$30,000 · Horry Cnty St Bk
—
—
Branch,w Price
—
Deed Of Trust
related
$30,000 · Horry Cnty St Bk
—
—
Condolux INC
—
Deed Of Trust
related
$129,281 · Crescom Bk
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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