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    Property profile & analytics

    2939 Hwy 17bus Murrells Inlet, SC 29576-7624

    • Grocery and convenience stores
    • 57,021 SF
    • 7.99 lot acres
    OFF-MARKET
    Last Sale
    May 31, 2024
    Value Estimations
    $9,780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1889645
    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

    • Grocery and convenience stores

    Property Details for 2939 Hwy 17bus

    Year built
    1996
    Construction
    CONCRETE
    Lot size
    7.99 lot acres
    Property size
    57,021 SF
    Zone code
    HC
    Property type
    Grocery and convenience stores
    APN
    470-01-03-0003
    APU
    47001030003

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,855,000
      6.5%
      $12,790,000
      7%
      $11,875,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,325,000
      Market price range: $5.56M - $16.6M
      AI Estimate
      $7,226,000
      Market price range: $3.57M - $14.1M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $10,580,000
      Current use
      OFFICE BUILDING
      $12,790,000
      Change: +21% Conversion: Easy
      WAREHOUSE, STORAGE
      $10,435,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Murrells Inlet
    County
    Horry
    State
    South Carolina
    Longitude
    -79.0128
    Latitude
    33.584
    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
    $76,285
    $94,448
    $238,755
    $333,203
    -
    $1,574,130
    $6,780,000
    $8,354,130

    Comparable in this City

    • Value Estimation
      $635,000
      5,688 SF

      4326 Hwy 17

      CONVENIENCE STORE • 5,688 SF
      4326 Hwy 17, Murrells Inlet, SC 29576-5022
      View Details
    • Value Estimation
      $515,000
      2,400 SF

      2005 Hwy 17bus

      CONVENIENCE STORE • 2,400 SF
      2005 Hwy 17bus, Murrells Inlet, SC 29576-7605
      View Details
    • Value Estimation
      $555,000
      4,700 SF

      680 Wachesaw Rd

      CONVENIENCE STORE • 4,700 SF
      680 Wachesaw Rd, Murrells Inlet, SC 29576
      View Details
    • Value Estimation
      $520,000
      2,580 SF

      2863 Hwy 17bus

      CONVENIENCE STORE • 2,580 SF
      2863 Hwy 17bus, Murrells Inlet, SC 29576-7622
      View Details
    • Value Estimation by Request
      2,640 SF

      3730 Hwy 17

      CONVENIENCE STORE • 2,640 SF
      3730 Hwy 17, Murrells Inlet, SC 29576
      View Details
    • Value Estimation
      $1,075,000
      10,484 SF

      4584 Hwy 17

      CONVENIENCE STORE • 10,484 SF
      4584 Hwy 17, Murrells Inlet, SC 29576-5030
      View Details

    Similar Nearby for Sale

    • $750,000

      Retail Opportunity in Murrells Inlet

      Commercial site suitable for restaurant, medical, or retail use.
      4540 Highway 17 S, Murrells Inlet, SC 29576
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    • $2,990,000
      16,000 SF

      Prime Murrells Inlet Retail Opportunity

      2.9-acre commercial property with redevelopment potential near Marsh Walk.
      3986 Highway 17 Business, Garden City, SC 29576
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    • $2,990,000

      Murrells Inlet Redevelopment Opportunity

      2.9-acre commercial property with redevelopment potential near Marsh Walk.
      3986 Highway 17 Business, Murrells Inlet, SC 29576
      View Details
    • Contact for pricing
      9,563 SF

      Murrells Inlet Cracker Barrel Investment

      NNN leased Cracker Barrel with long term passive income.
      1303 Tadlock Dr, Murrells Inlet, SC 29576
      View Details
    • $105,000
      980 SF

      Highway 17 Retail Opportunity

      Murrells Inlet, SC CBD Business
      4450 Highway 17, Murrells Inlet, SC 29576
      View Details
    • $2,650,000
      1,050 SF

      High-Visibility Car Wash Opportunity

      Car wash on 1.05 acres with highway frontage.
      4920 Highway 17 Byp, Murrells Inlet, SC 29576
      View Details

    Similar Nearby for Lease

    • $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
      View Details
    • $1,650 /Mo
      900 SF

      Highway 17 Retail/Office Space

      900 SF retail or office space on Highway 17.
      3940 Highway 17 South, Murrells Inlet, SC 29576
      View Details
    • $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
    • $2,400 /Mo
      1,250 SF

      Murrells Inlet Office Space

      Multi-tenant office/retail/medical building with easy highway access. Available 4/1/26.
      637 Bellamy Ave, Murrells Inlet, SC 29576
      View Details
    • $1,665 /Mo
      1,250 SF

      Murrells Inlet Office Space

      Multi-tenant office/retail/medical building with 1,250 SF available 4/1/26.
      637 Bellamy Ave, Murrells Inlet, SC 29576
      View Details
    • Contact for pricing

      Retail Pad in Murrells Inlet

      Retail pad for lease in a fast-growing Myrtle Beach MSA.
      11500 Highway 17 Byp, Murrells Inlet, SC 29576
      View Details
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    Murrells Inlet, SC 29576-7624
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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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