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    Property profile & analytics

    304 2Nd Ave N Myrtle Beach, SC 29577

    • Garden apartment buildings
    • 2,793 SF
    • 0.20 lot acres
    For Sale
    View listing
    $685,000
    Last Sale
    Mar 29, 2022
    $770,000
    Value Estimations
    Cap Rate Potential
    2.4%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US77-0635066
    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

    • Sea Bee Inn Aprtments / Apartment Building

    Property Details for 304 2Nd Ave N

    Year built
    1956
    Construction
    STEEL FRAME
    Lot size
    0.20 lot acres
    Property size
    2,793 SF
    Zone code
    TA8
    Property type
    Garden apartment buildings
    APN
    443-05-03-0051
    APU
    44305030051

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,085,000
      ML approach
      $1,065,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,138,000
      Market price range: $483k - $1.37M
      AI Estimate
      $676,000
      Market price range: $241k - $733k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $795,000
      Current use
      COMMERCIAL (GENERAL)
      $1,600,000
      Change: +102% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,055,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $840,000
      Change: +6% Conversion: Moderate
      OFFICE BUILDING
      $680,000
      Change: -14% 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
    -78.8875
    Latitude
    33.6856
    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
    $9,813
    $6,264
    $14,736
    $21,000
    -
    $104,400
    $245,600
    $350,000

    Comparable in this City

    • Value Estimation
      $645,000
      4,968 SF

      1750 Grns Blvda

      GARDEN APT, COURT APT (5+ UNITS) • 4,968 SF
      1750 Grns Blvda, Myrtle Beach, SC 29577-8094
      View Details
    • Value Estimation
      $515,000
      3,432 SF

      1100 Dunbar St

      GARDEN APT, COURT APT (5+ UNITS) • 3,432 SF
      1100 Dunbar St, Myrtle Beach, SC 29577-3368
      View Details
    • Value Estimation
      $910,000
      800 SF

      1202 Ocala St

      GARDEN APT, COURT APT (5+ UNITS) • 800 SF
      1202 Ocala St, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $915,000
      11,808 SF

      3035 Old Bryan Dr, Unit A

      GARDEN APT, COURT APT (5+ UNITS) • 11,808 SF
      3035 Old Bryan Dr, Myrtle Beach, SC 29577-5851
      View Details
    • Value Estimation
      $770,000
      2,525 SF

      1304 Dunbar St

      GARDEN APT, COURT APT (5+ UNITS) • 2,525 SF
      1304 Dunbar St, Myrtle Beach, SC 29577-3364
      View Details
    • Value Estimation
      $735,000
      4,716 SF

      1405 Dunbar St

      GARDEN APT, COURT APT (5+ UNITS) • 4,716 SF
      1405 Dunbar St, Myrtle Beach, SC 29577-3361
      View Details

    Similar Nearby for Sale

    • $265,000
      1,301 SF

      Coastal Condo in Magnolia Pointe

      Elegant, renovated condo near beaches, golf, and amenities.
      4821 Luster Leaf Cir, Myrtle Beach, SC 29577
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    • $72,400

      Landmark Resort Efficiency Condo

      Oceanfront condo with resort amenities and income potential.
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    • $676,000

      Myrtle Beach Multifamily Investment

      Six-unit property near the beach with income and appreciation potential.
      611 4Th Ave N, Myrtle Beach, SC 29577
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    • $1,330,000

      Myrtle Beach Multifamily Opportunity

      Multifamily property in Myrtle Beach with significant upside potential.
      1308 Dunbar St, Myrtle Beach, SC 29577
      View Details
    • $485,000

      Myrtle Beach Income Property

      Income-oriented property in established Myrtle Beach neighborhood.
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    • $1,849,000

      Upgraded Income Property Near Ocean

      Renovated Myrtle Beach property with six units, short-term rentals allowed.
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    Similar Nearby for Lease

    • $1,800 /Mo
      1,200 SF

      Remodeled Myrtle Beach End Unit

      Remodeled, furnished end unit near the beach available for short-term rental.
      4860 Carnation Cir, Myrtle Beach, SC 29577
      View Details
    • $1,700 /Mo
      1,097 SF

      Myrtle Beach Townhome with Pool

      Three-bedroom townhome with community pool access in Myrtle Beach.
      604 Beachwalk Pl, Myrtle Beach, SC 29577
      View Details
    • $1,795 /Mo
      1,184 SF

      Market Common Townhome Rental

      Stylish 2-bedroom townhome in vibrant Market Common district.
      2954 Yancey Way, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space in Grande Dunes

      Retail spaces available in proposed Grande Dunes development.
      43 Frontage Rd, Myrtle Beach, SC 29577
      View Details
    • $1,900 /Mo
      1,000 SF

      Retail Space on Highway 501

      Retail space for lease near downtown Myrtle Beach.
      1346 Highway 501, Myrtle Beach, SC 29577
      View Details
    • $3,125 /Mo
      1,250 SF

      Restaurant Space on 7th Avenue

      Restaurant space available for lease on October 1, 2025.
      206 7Th Ave N, Myrtle Beach, SC 29577
      View Details
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    Myrtle Beach, SC 29577
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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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