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    Property profile & analytics

    328 Tiller Dr Pawleys Island, SC 29585

    • Warehouses
    • 14,236 SF
    • 1.00 lot acres
    For Lease
    View listing
    $16,044 /Mo
    Last Sale
    May 01, 2024
    $1,423,600
    Value Estimations
    $1,425,000
    Cap Rate Potential
    7.8%
    Warehouses
    Location Intelligence
    Property ID
    US77-2232458
    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 328 Tiller Dr

    Year built
    1970
    Construction
    METAL FRAME
    Lot size
    1.00 lot acres
    Property size
    14,236 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    04-0154-015-00-00
    APU
    401540150000

    Description

    This exceptional Pawleys Island industrial property offers 14,810 square feet of versatile warehouse and flex space, ideally situated for businesses serving the Georgetown to Myrtle Beach corridor. The property features three individual suites, with a minimum divisible space of 4,009 square feet and a maximum contiguous space of 14,810 square feet. Three convenient drive-in doors provide easy access for loading and unloading. Recent improvements include fresh exterior paint and landscaping, a renovated storefront and office area, and a new monument sign with updated branding and wayfinding signage. The warehouse boasts 12-foot roll-up doors and high ceilings (12' at the eaves, 17.5' at the sides, and a center height of 17.5'). Electrical service is robust, featuring one 120/240V single-phase 225 AMP panel and one 460/480V three-phase 200 AMP panel. Landlord improvements are available for offices, bathrooms, and break areas, allowing for customization to meet specific tenant needs. The property's prime location offers easy access to Highway 17, placing it within close proximity to major retail and residential areas. This makes it an excellent opportunity for businesses seeking a strategic location with modern amenities and flexible space options. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,425,000
      ML approach
      $1,425,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,855,000
      6.5%
      $1,710,000
      7%
      $1,590,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,330,000
      COMMERCIAL (GENERAL)
      $2,290,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pawleys Island
    County
    Georgetown
    State
    South Carolina
    Longitude
    -79.1264
    Latitude
    33.4485
    CBSA code
    23860
    CBSA name
    GEORGETOWN, SC MICROPOLITAN 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
    $7,605
    $9,000
    $19,730
    $28,730
    -
    $150,000
    $328,800
    $478,800

    Comparable in this City

    • Value Estimation
      $945,000
      12,810 SF

      205 Tiller Dr

      MINI-WAREHOUSE, STORAGE • 12,810 SF
      205 Tiller Dr, Pawleys Island, SC 29585
      View Details
    • Value Estimation
      $1,085,000
      17,432 SF

      954 Petigru Dr

      MINI-WAREHOUSE, STORAGE • 17,432 SF
      954 Petigru Dr, Pawleys Island, SC 29585-7749
      View Details
    • Value Estimation
      $1,525,000
      22,200 SF

      11871 Ocean Hwy

      MINI-WAREHOUSE, STORAGE • 22,200 SF
      11871 Ocean Hwy, Pawleys Island, SC 29585-5448
      View Details
    • Value Estimation by Request
      20,000 SF

      54 Geney Ln

      MINI-WAREHOUSE, STORAGE • 20,000 SF
      54 Geney Ln, Pawleys Island, SC 29585
      View Details
    • Value Estimation
      $725,000
      18,448 SF

      Otis Dr

      MINI-WAREHOUSE, STORAGE • 18,448 SF
      Otis Dr, Pawleys Island, SC 29585
      View Details
    • Value Estimation by Request
      2,880 SF

      124 Wilder Trl

      MINI-WAREHOUSE, STORAGE • 2,880 SF
      124 Wilder Trl, Pawleys Island, SC 29585-7599
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      500 SF

      Pawleys Island Industrial Flex Space

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      1102 - B Martin Luther King Rd, Pawleys Island, SC 29585
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      Pawleys Island Outparcels For Sale

      Outparcels of Lowes Foods anchored Pawleys Market retail center.
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      Land For Sale Pawleys Island

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    • $430,000
      1.50 Acres

      Pawleys Island Commercial Lot For Sale

      1.5 acre commercial lot on Ocean Highway in Pawleys Island.
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    • $420,000
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      Prime Commercial Lot on Wall Street

      Commercial real estate near Highway 17 and Litchfield By The Sea.
      Portion Wall St, Pawleys Island, SC 29585
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    • $120,000
      0.99 Acres

      Residential Lot in Pawleys Island

      Residential lot near shops, restaurants, and businesses in Pawleys Island.
      200 Petigru Dr, Pawleys Island, SC 29585
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      10,890 SF

      Pawleys Island Multi-Use Commercial Space

      Versatile Office, Flex & Warehouse Units
      354 Tiller Dr, Pawleys Island, SC 29585
      View Details
    • $1,500 /Mo

      Pawleys Island Warehouse Space Available

      4,000 sq ft building with warehouse space for rent.
      1102 - C Martin Luther King Rd, Pawleys Island, SC 29585
      View Details
    • $16,044 /Mo
      14,810 SF

      Pawleys Island Industrial Space Available

      Well-maintained industrial property with flexible zoning in Pawleys Island.
      328 Tiller Dr, Pawleys Island, SC 29585
      View Details
    • $6,082 /Mo
      2,500 SF

      New Retail and Office Spaces

      New retail and office spaces available in Pawleys Island, SC.
      9601 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $2,870 /Mo
      1,722 SF

      Charming Retail Space in Pawleys

      1,722 SF retail space in picturesque Pawleys Island shopping destination.
      10659 Ocean Hwy, Pawleys Island, SC 29585
      View Details
    • $3,329 /Mo
      1,598 SF

      Prime Retail/Office Space Available

      Highly desirable Pawleys Island mixed-use location. Adaptable space.
      71 Dagullah Way, Pawleys Island, SC 29585
      View Details
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    Pawleys Island, SC 29585
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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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