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    3802 S Ocean Blvd North Myrtle Beach, SC 29582
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    Property profile & analytics

    3802 S Ocean Blvd North Myrtle Beach, SC 29582

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    • Garden apartment buildings
    • 5,608 SF
    • 18.65 lot acres
    For Sale
    $1,685,000
    View Listing →
    North Myrtle Beach Income Property For Sale
    $1,685,000
    3,400 SF

    North Myrtle Beach Income Property

    Income-producing buildings near the beach in North Myrtle Beach, SC.

    3802 S Ocean Blvd., North Myrtle Beach, SC 29582
    View Listing
    Property ID
    US77-1716646
    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.
    Value Estimations
    Cap Rate Potential
    2.8%
    Garden apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Beachcomber Realty Vacations Rentals / Vacation Rental / Real Estate Agency

    Property Details for 3802 S Ocean Blvd

    Year built
    1954
    Construction
    CONCRETE
    Lot size
    18.65 lot acres
    Property size
    5,608 SF
    Zone code
    R4
    Property type
    Garden apartment buildings
    APN
    351-14-03-0153
    APU
    35114030153

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $865,000
      6.5%
      $795,000
      7%
      $740,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,141,000
      Market price range: $552k - $1.14M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,970,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.6309
    Latitude
    33.8314
    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
    $17,601
    $62,400
    $14,358
    $76,758
    -
    $1,040,000
    $239,300
    $1,279,300

    Comparable in this City

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      View Details
    • Value Estimation by Request
      3,024 SF

      1513 Madison Dr

      GARDEN APT, COURT APT (5+ UNITS) • 3,024 SF
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    • Value Estimation by Request
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      233 Main St

      GARDEN APT, COURT APT (5+ UNITS) • 2,560 SF
      233 Main St, North Myrtle Beach, SC 29582-3020
      View Details
    • Value Estimation
      $1,445,000
      2,024 SF

      2703 Ocean Blvd

      GARDEN APT, COURT APT (5+ UNITS) • 2,024 SF
      2703 Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $680,000
      2,592 SF

      401 17th S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 2,592 SF
      401 17th S Ave, North Myrtle Beach, SC 29582-4077
      View Details
    • Value Estimation
      $650,000
      5,814 SF

      211 1st S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 5,814 SF
      211 1st S Ave, North Myrtle Beach, SC 29582-3121
      View Details

    Similar Nearby for Sale

    • New
      $1,685,000
      3,400 SF

      North Myrtle Beach Income Property

      Income-producing buildings near the beach in North Myrtle Beach, SC.
      3802 S Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
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      Atlantic Beach Multifamily Investment Opportunity

      Multifamily property near the beach in a rapidly evolving market.
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      North Myrtle Beach Condo Complex

      Income-producing condo complex near the beach and Barefoot Landing.
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    • Contact for pricing
      22,643 SF

      Coastal Income Property: 24 Units

      Two buildings, 24 units, walking distance to the ocean.
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      Multifamily Investment Near Crescent Beach

      Multifamily property near the ocean with significant upside potential.
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    Similar Nearby for Lease

    • $48,000

      Corner Commercial Land For Rent

      Corner lot with frontage on US 17 available for rent.
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      View Details
    • $148,929
      3,348 SF

      North Myrtle Beach Retail Space

      High-end retail space in North Myrtle Beach's newest shopping center.
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      View Details
    • Sponsored
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    • Contact for pricing

      Retail Space in Coastal North

      Retail space with excellent visibility in North Myrtle Beach.
      17 N & Starwatch Rd, North Myrtle Beach, SC 29582
      View Details
    • $4,666 /Mo
      2,800 SF

      Retail Space in Surfwood Plaza

      Retail space for lease in a high-traffic shopping center.
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    • $615 /Mo

      Class A Office Space

      Class A office suites for lease in North Myrtle Beach.
      1016 2Nd Ave North, North Myrtle Beach, SC 29582
      View Details
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    North Myrtle Beach, SC 29582
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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.

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