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Property profile & analytics
OFF-MARKET
Estimated value
$1,425,000
Medical Office Space
401 79th N Ave Myrtle Beach, SC 29572-4310
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US77-1812424
Property summary
AI-generated overview
This single-story, 6,576 square foot office building in Myrtle Beach, South Carolina, presents a compelling investment opportunity. Built in 1982 and situated on a 0.18-acre lot (APN 42201010096), this property is zoned MU-M and offers versatile space suitable for executive, medical, or traditional office uses. Currently configured as a medical suite, it features a spacious reception area, multiple private offices, and exam rooms, all designed for patient comfort and accessibility, including an ADA-compliant restroom. The property boasts a recently resurfaced parking lot providing ample parking for staff and clients. Its prime location, minutes from Grand Strand Medical Center, offers excellent visibility and proximity to other healthcare facilities. The recently updated landscaping enhances the professional appeal of the building. This turnkey property is available for lease starting January 1st and represents an exceptional opportunity for healthcare providers or other businesses seeking a well-maintained, high-visibility location within Myrtle Beach's thriving healthcare corridor. The building consists of one building with a total of 6,576 square feet.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1982
Total area
6,576 SF
Lot
0.16 ac (6,970 SF)
Zoning code
AC2
APN
422-01-01-0096
UPID
US77-1812424
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Merritt Jennifer H MD Ophthalmologist
-
Dechamplain Richard MD Ophthalmologist
-
Coastal Eye Group, PC - Myrtle Beach Medical Clinic Ophthalmologist
-
Mayo Walter OD Eye Care
-
Denny M Lyn OD Eye Care Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.35M
CAP Approach
CAP
$1.52M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.43M
Owner & transaction history
Banks Property Holdings LLC · 1 yrs held
Banks Property Holdings LLC
since 2025
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
AC2 · Myrtle Beach, SC
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Myrtle Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Myrtle Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,220,000
ML approach
$1,350,000
CAP Approach
CAP Return
Estimation
6%
$1,640,000
6.5%
$1,515,000
7%
$1,405,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,980,000
Current use
Blend value · Realmo final
$1.43M
Range $1.28M – $1.57M · ±10% · vs last sale $1.43M (Apr 23 2025)
Last sale anchor
$1.43M
Apr 23 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$217 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,281
Tax year 2023
Assessed value
$30,307
Assessed 2023
Previous assessed
$30,307
+0.0% YoY
Effective rate
27.32%
On assessed value
Assessed land
$6,182
Assessed improvement
$24,125
Land market value
$103,040
Improvement market value
$555,000
Total market value
$658,040
Applied tax rate
880.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1982
Heating
SOLAR
Cooling
CENTRAL
Total area
6,576 SF
Lot
0.16 ac (6,970 SF)
Zoning code
AC2
APN
422-01-01-0096
UPID
US77-1812424
Jurisdiction
HORRY
Zoning & alternative use
AC2 · Myrtle Beach, SCZoning AC2 · permitted uses
AC2 · Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.0M
MEDICAL BUILDING Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Heating
SOLAR
Cooling
Yes
Lot
0.16 ac
Current owner
From public records · entity-resolved
Banks Property Holdings LLC
Entity
Mailing address
112 TWINOAK CT, MYRTLE BEACH, SC 29572-4431
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2025
$1,431,204
Banks Property Holdings LLC
Twin Oak Partners Limited Ptnshp
Warranty Deed
$1,216,520 · First Citizens Bank
Dec 31, 1999
$516,000
Twin Oak LP
—
Trustees Deed
related
—
Dec 31, 1999
$258,000
Sloan,christi H
—
Trustees Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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