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Property profile & analytics
FOR SALE
Drive through restaurants
404 22Nd Ave N Myrtle Beach, SC 29577
Entity Owned
20-yr Hold
Free & Clear
Property ID
US77-1988866
For Sale
1 / 31
$1,750,000
404 22Nd Ave N, Myrtle Beach, SC 29577
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2006
Construction
CONCRETE
Total area
4,064 SF
Lot
0.83 ac (36,155 SF)
Zoning code
C-2
APN
424-15-02-0012
UPID
US77-1988866
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
-
9 Palms Vacation Rental Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$714k
Blend (final)
Blend
$620k
Owner & transaction history
Mcdonalds Real Estate Co · 20 yrs held
Mcdonalds Real Estate Co
since 2005
3 recorded transactions
Zoning & alternative use
C-2 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$990,000
+5.5%
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
by Request
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$940,000
Current use
OFFICE BUILDING
$990,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$620k
Range $558k – $682k · ±10%
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
$153 / 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
$21,173
Tax year 2023
Assessed value
$77,502
Assessed 2023
Effective rate
27.32%
On assessed value
Assessed land
$37,427
Assessed improvement
$40,075
Land market value
$723,220
Improvement market value
$935,000
Total market value
$1,658,220
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Sale
Year built
2006
Construction
CONCRETE
Heating
SOLAR
Cooling
CENTRAL
Total area
4,064 SF
Lot
0.83 ac (36,155 SF)
Zoning code
C-2
APN
424-15-02-0012
UPID
US77-1988866
Jurisdiction
HORRY
Zoning & alternative use
C-2 · Myrtle Beach, SC
Zoning C-2 · permitted uses
C-2 · Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Myrtle Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$940,000
OFFICE BUILDING
Est. value
$990,000
RESTAURANT Current
OFFICE BUILDING
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
2006
Construction
CONCRETE
Heating
SOLAR
Cooling
Yes
Lot
0.83 ac
Current owner
From public records · entity-resolved
Mcdonalds Real Estate Co
Entity
Free & Clear · 20 yrs held
Mailing address
PO BOX 182571, COLUMBUS, OH 43218-2571
Ownership since
2005
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
Oct 20, 2016
—
Jlm Coastline Properties LLC
—
Deed
related
$608,000 · First Citizens Bk
Nov 29, 2005
—
Mcdonalds Real Estate Co
Mcdonalds Corp
Quit Claim Deed
related
—
—
—
Jlm Coastline Properties LLC
—
Deed Of Trust
related
$608,000 · First Citizens Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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