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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Garden apartment buildings
506 Ocean Blvd North Myrtle Beach, SC 29582-3208
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US77-1656401
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1956
Total area
1,902 SF
Lot
0.06 ac (2,750 SF)
Zoning code
R-4
APN
356-08-03-0498
UPID
US77-1656401
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$735k
Owner & transaction history
Ashbaugh LLC · 6 yrs held
Ashbaugh LLC
since 2020
Last sale
$650,000
6 recorded transactions
Zoning & alternative use
R-4 · North Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 North Myrtle Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$785,000
Current use
COMMERCIAL (GENERAL)
$735,000
Change: -6% · Conversion: Moderate
RETAIL STORES
$700,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±10% · vs last sale $650k (Mar 10 2020)
Last sale anchor
$650k
Mar 10 2020
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
$386 / 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
$8,457
Tax year 2023
Assessed value
$36,876
Assessed 2023
Effective rate
22.93%
On assessed value
Assessed land
$27,000
Assessed improvement
$9,876
Land market value
$450,000
Improvement market value
$164,600
Total market value
$614,600
Applied tax rate
550.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1956
Heating
HOT WATER
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
5
Bathrooms
2
Total area
1,902 SF
Lot
0.06 ac (2,750 SF)
Zoning code
R-4
APN
356-08-03-0498
UPID
US77-1656401
Jurisdiction
HORRY
Zoning & alternative use
R-4 · North Myrtle Beach, SC
Zoning R-4 · permitted uses
R-4 · North Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Myrtle Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$785,000
COMMERCIAL (GENERAL)
Est. value
$735,000
RETAIL STORES
Est. value
$700,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1956
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
2
Rooms
5
Bathrooms
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Ashbaugh LLC
Entity
Mailing address
655 9TH CT, FOX ISLAND, WA 98333-9669
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2020
$650,000
Ashbaugh LLC
Chan T Leeper
Warranty Deed
$453,600 · Chan Leeper
Apr 18, 2007
—
Leeper,thomas E Trust
Thomas E Leeper
Quit Claim Deed
related
—
Oct 23, 2000
$117,550
Thomas E Leeper
—
Grant Deed
related
—
Aug 23, 2000
$1,000
Ottaco Acceptance INC
—
Grant Deed
related
—
Mar 1, 2000
$70,000
Ottaco Acceptance INC
—
Grant Deed
related
—
—
—
Leeper,thomas E Living Trust
—
Deed Of Trust
related
$86,500 · Branch Bk&tr
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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