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

    4608 Michigan Dr Little River, SC 29566-7461

    • Mobile home & RV parks
    • 2,992 SF
    • 62.38 lot acres
    OFF-MARKET
    Last Sale
    Jul 23, 2024
    Value Estimations
    $1,270,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1737499
    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

    • Mobile home & RV parks

    Property Details for 4608 Michigan Dr

    Year built
    1991
    Construction
    WOOD
    Lot size
    62.38 lot acres
    Property size
    2,992 SF
    Zone code
    FA
    Property type
    Mobile home & RV parks
    APN
    349-00-00-0026
    APU
    34900000026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Little River
    County
    Horry
    State
    South Carolina
    Longitude
    -78.6938
    Latitude
    33.8485
    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
    $0.00
    $102,927
    $138,576
    $241,503
    -
    $1,715,450
    $2,309,600
    $4,025,050

    Comparable in this City

    • Value Estimation
      $640,000
      768 SF

      100 Queens Rd

      MOBILE HOME PARK, TRAILER PARK • 768 SF
      100 Queens Rd, Little River, SC 29566-8104
      View Details
    • Value Estimation
      $1,335,000
      96,565 SF

      Horry Rd

      CAMPGROUND, RV PARK • 96,565 SF
      Horry Rd, Little River, SC 29566
      View Details
    • Value Estimation by Request
      3,476 SF

      1507 Hwy 57th N

      GARDEN APT, COURT APT (5+ UNITS) • 3,476 SF
      1507 Hwy 57th N, Little River, SC 29566-7102
      View Details
    • Value Estimation
      $11,550,000
      27,148 SF

      531 Dalton Way

      GARDEN APT, COURT APT (5+ UNITS) • 27,148 SF
      531 Dalton Way, Little River, SC 29566-5116
      View Details
    • Value Estimation by Request
      3,640 SF

      2600 Hwy 9th E

      GARDEN APT, COURT APT (5+ UNITS) • 3,640 SF
      2600 Hwy 9th E, Little River, SC 29566-8138
      View Details
    • Value Estimation by Request
      4.12 Acres

      4312 Woodrow Shelley Dr

      Multifamily properties • 179,467 SF
      4312 Woodrow Shelley Dr, Little River, SC 29566
      View Details

    Similar Nearby for Sale

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      3-bedroom, 2-bathroom condo in Little River, minutes from the beach.
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      Updated Condo Near Cherry Grove

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      Charming three-bedroom condo with modern updates and community amenities.
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      Coquina Harbour Condo with Boat Slip

      Coastal condo with private boat slip in desirable Coquina Harbour.
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    • $1,295,000
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      Commercial Property on Highway 17

      Over an acre commercial property with frontage on Highway 17.
      1479/1471 Highway 17, Little River, SC 29566
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    • New
      $399,000
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      Updated home with garage, apartment, and investment potential.
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    Similar Nearby for Lease

    • $2,000 /Mo
      1,622 SF

      Mariner's Pointe Gated Community Residence

      Residence in gated community with potential boat slip lease.
      50 Mariners Pt, Little River, SC 29566
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    • Contact for pricing
      49,750 SF

      Waterway Plaza Retail Space Available

      Prime Little River Retail, High Traffic
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      170,327 SF

      Little River Medical & Commercial Space

      Prime SC Location, Multiple Tenants
      9 & Water Grande Blvd, Little River, SC 29566
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    • $3,333 /Mo
      2,000 SF

      Retail Space in Little River

      Retail space available in high-traffic Little River shopping center.
      4390 Spa Dr, Little River, SC 29566
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    • $54,000
      31,363 SF

      Little River Commercial Land Lease

      High-traffic corner lot, ground lease opportunity.
      2411 Highway 9, Little River, SC 29566
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    • $9 SF/Yr
      6,000 SF

      Little River Retail Building For Sale

      Prime Hwy 17 location, 6,000 sq ft.
      1530 Highway 17, Little River, SC 29566
      View Details
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    4608 Michigan Dr
    Little River, SC 29566-7461
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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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