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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    407 4Th Ave N Myrtle Beach, SC 29577

    • Garden apartment buildings
    • 4,416 SF
    • 0.21 lot acres
    For Sale
    View listing
    $820,000
    Last Sale
    Mar 29, 2022
    $800,000
    Value Estimations
    Cap Rate Potential
    3.6%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US77-1935011
    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

    • Quality Painters of Myrtle Beach / Painter

    Property Details for 407 4Th Ave N

    Year built
    1977
    Construction
    CONCRETE
    Lot size
    0.21 lot acres
    Property size
    4,416 SF
    Zone code
    TA8
    Property type
    Garden apartment buildings
    APN
    443-05-02-0103
    APU
    44305020103

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,130,000
      ML approach
      $1,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $877,000
      Market price range: $764k - $2.17M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,255,000
      Current use
      AUTO REPAIR, GARAGE
      $1,665,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $1,330,000
      Change: +6% Conversion: Moderate
      OFFICE BUILDING
      $1,080,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8873
    Latitude
    33.6881
    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
    $10,195
    $6,480
    $9,714
    $16,194
    -
    $108,000
    $161,900
    $269,900

    Comparable in this City

    • Value Estimation
      $355,000
      2,904 SF

      302 10th S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 2,904 SF
      302 10th S Ave, Myrtle Beach, SC 29577-4454
      View Details
    • Value Estimation
      $525,000
      3,132 SF

      614 37th N Ave

      GARDEN APT, COURT APT (5+ UNITS) • 3,132 SF
      614 37th N Ave, Myrtle Beach, SC 29577-2892
      View Details
    • Value Estimation
      $900,000
      33,804 SF

      1021 Dunbar St

      GARDEN APT, COURT APT (5+ UNITS) • 33,804 SF
      1021 Dunbar St, Myrtle Beach, SC 29577-5633
      View Details
    • Value Estimation
      $570,000
      10,938 SF

      1112 Crimson St

      GARDEN APT, COURT APT (5+ UNITS) • 10,938 SF
      1112 Crimson St, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $1,950,000
      6,390 SF

      407 7th S Ave

      GARDEN APT, COURT APT (5+ UNITS) • 6,390 SF
      407 7th S Ave, Myrtle Beach, SC 29577-4450
      View Details
    • Value Estimation
      $310,000
      4,030 SF

      4805 Little Riv Rd, Unit 2

      GARDEN APT, COURT APT (5+ UNITS) • 4,030 SF
      4805 Little Riv Rd, Myrtle Beach, SC 29577-2491
      View Details

    Similar Nearby for Sale

    • $229,000

      Oceanfront Condo with Boardwalk Access

      Modern, furnished one-bedroom condo with ocean views and resort amenities.
      1604 N Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $488,000

      Myrtle Beach Multifamily Investment Property

      Income-producing six-unit apartment building in central Myrtle Beach location.
      1304 Dunbar St, Myrtle Beach, SC 29577
      View Details
    • $655,000

      Myrtle Beach Multifamily Opportunity

      Multifamily property with eight 1-bedroom units in Myrtle Beach.
      501 N Oak St, Myrtle Beach, SC 29577
      View Details
    • $1,050,000

      Turn-Key Myrtle Beach Investment Property

      Fully renovated six-unit property in prime Myrtle Beach location.
      818 Bay St, Myrtle Beach, SC 29577
      View Details
    • $807,000
      Pending

      Myrtle Beach Multifamily Investment

      10-unit apartment building, two blocks from the ocean.
      311 3Rd Ave N, Myrtle Beach, SC 29577
      View Details
    • $820,000

      Multifamily Opportunity Near Myrtle Beach

      Multifamily property near the ocean, dining, and entertainment.
      407 4Th Ave N, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      1,200 SF

      Remodeled Myrtle Beach End Unit

      Remodeled, furnished end unit near the beach available for short-term rental.
      4860 Carnation Cir, Myrtle Beach, SC 29577
      View Details
    • $1,795 /Mo
      1,184 SF

      Market Common Townhome Rental

      Stylish 2-bedroom townhome in vibrant Market Common district.
      2954 Yancey Way, Myrtle Beach, SC 29577
      View Details
    • $1,700 /Mo
      1,097 SF

      Myrtle Beach Townhome with Pool

      Three-bedroom townhome with community pool access in Myrtle Beach.
      604 Beachwalk Pl, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      100,000 SF

      Founders Centre Office Suites

      Myrtle Beach Class A Office Space
      2411 Oak St, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      16,538 SF

      Myrtle Beach Warehouse/Showroom Space

      Warehouse and showroom space available for lease in Myrtle Beach.
      1310 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing

      Retail Pad in Shadow Center

      2.2 AC retail pad in high-traffic tourist area.
      Oak Forest Ln, Myrtle Beach, SC 29577
      View Details
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    Myrtle Beach, SC 29577
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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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