Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3480 Mccormick Rd Myrtle Beach, SC 29579-8276

    • Day care centers
    • 5,082 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Jul 22, 2022
    $845,000
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1954573
    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

    • The Learning Station-McCormick / High School / Daycare Center

    Property Details for 3480 Mccormick Rd

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    1.01 lot acres
    Property size
    5,082 SF
    Property type
    Day care centers
    APN
    427-12-01-0009
    APU
    42712010009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,195,000
      ML approach
      $1,210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $564,000
      Market price range: $235k - $1.15M

    • Alternative Use

      Use
      Estimation
      COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
      $680,000
      Current use
      COMMERCIAL (GENERAL)
      $1,405,000
      Change: +107% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $820,000
      Change: +21% Conversion: Difficult
      OFFICE BUILDING
      $795,000
      Change: +17% Conversion: Difficult
      RESTAURANT
      $575,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.959
    Latitude
    33.7086
    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
    $11,406
    $6,808
    $21,542
    $28,350
    -
    $131,550
    $516,400
    $647,950

    Comparable in this City

    • Value Estimation
      $1,050,000
      7,392 SF

      217 Physicians Ct

      DAY CARE, PRE-SCHOOL • 7,392 SF
      217 Physicians Ct, Myrtle Beach, SC 29579-5238
      View Details
    • Value Estimation
      $610,000
      6,732 SF

      3762 Claypond Rd, Unit 3762

      DAY CARE, PRE-SCHOOL • 6,732 SF
      3762 Claypond Rd, Myrtle Beach, SC 29579-7327
      View Details
    • Value Estimation by Request
      6,000 SF

      4320 Hwy 501

      DAY CARE, PRE-SCHOOL • 6,000 SF
      4320 Hwy 501, Myrtle Beach, SC 29579
      View Details
    • Value Estimation
      $1,200,000
      9,810 SF

      131 Gtwy Rd

      DAY CARE, PRE-SCHOOL • 9,810 SF
      131 Gtwy Rd, Myrtle Beach, SC 29579-3410
      View Details
    • Value Estimation
      $1,770,000
      14,994 SF

      Myrtle Beach, SC 29579

      DAY CARE, PRE-SCHOOL • 14,994 SF
      Myrtle Beach, SC 29579
      View Details
    • Value Estimation
      $1,080,000
      9,696 SF

      109 Perry Rd

      DAY CARE, PRE-SCHOOL • 9,696 SF
      109 Perry Rd, Myrtle Beach, SC 29579-6864
      View Details

    Similar Nearby for Sale

    • $3,240,208
      10,100 SF

      Myrtle Beach Childcare Investment Property

      Retail property in Myrtle Beach with long-term tenant.
      109 W Perry Rd, Myrtle Beach, SC 29579
      View Details
    • $95,000

      1.17 Acre Development Ready Outparcel

      Development-ready outparcel with frontage on U.S. Highway 501.
      1028 Glenforest Rd, Myrtle Beach, SC 29579
      View Details
    • $460,000
      Pending

      Waterway Palms Residential Lot

      Residential lot in gated community with waterway access and amenities.
      368 West Palms Dr, Myrtle Beach, SC 29579
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      1,150 SF

      New Office Complex For Lease

      Office complex in Carolina Forest retail/professional/office area.
      4225 Carolina Exchange Dr, Myrtle Beach, SC 29579
      View Details
    • $2,675 /Mo
      1,070 SF

      Carolina Forest Office Suite For Rent

      Office suite in a rapidly growing Myrtle Beach submarket.
      3888 Renee Dr, Myrtle Beach, SC 29579
      View Details
    • Contact for pricing

      Retail Space on Highway 501

      Highly visible retail space in Myrtle Beach's growing Carolina Forest.
      107 Debo Dr, Myrtle Beach, SC 29579
      View Details
    • Contact for pricing
      871,200 SF

      Conway, SC Commercial Land Opportunity

      20-Acre Highway Commercial Lot For Lease
      US-501 & Myrtle Rdg Dr, Conway, SC 29579
      View Details
    • $95,000
      50,965 SF

      Highway Frontage Commercial Lot

      1.17 acre commercial lot with high traffic count.
      1028 Glenforest Rd, Myrtle Beach, SC 29579
      View Details
    • $7 SF/Yr
      20,255 SF

      Versatile Warehouse, Distribution, Office Space

      20,255 SF warehouse, distribution, office, and showroom space.
      3856 Wesley St, Myrtle Beach, SC 29579
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3480 Mccormick Rd
    Myrtle Beach, SC 29579-8276
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!