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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Retail space
640 Hwy 17th Ste S E Ste, Surfside Beach, SC 29575-6091
Individually Owned
12-yr Hold
Free & Clear
Property ID
US77-2001379
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Construction
CONCRETE
Total area
2,400 SF
Lot
0.52 ac (22,651 SF)
Zoning code
C1
APN
461-01-04-0045
UPID
US77-2001379
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
$485k
CAP Approach
CAP
$540k
Comparable Approach
Comparable
$695k
Blend (final)
Blend
$525k
Owner & transaction history
Michael J Arakas · 12 yrs held
Michael J Arakas
since 2014
4 recorded transactions
Zoning & alternative use
C1 · Surfside Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$725,000
+48.3%
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 Surfside Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Surfside 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
$485,000
CAP Approach
CAP Return
Estimation
6%
$585,000
6.5%
$540,000
7%
$500,000
Alternative Use
Use
Estimation
RETAIL STORES
$490,000
Current use
MEDICAL BUILDING
$725,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$219 / 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
$5,827
Tax year 2023
Assessed value
$24,423
Assessed 2023
Previous assessed
$24,423
+0.0% YoY
Effective rate
23.86%
On assessed value
Assessed land
$11,475
Assessed improvement
$12,948
Land market value
$191,250
Improvement market value
$263,800
Total market value
$455,050
Applied tax rate
660.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2002
Construction
CONCRETE
Heating
HOT WATER
Cooling
CENTRAL
Total area
2,400 SF
Lot
0.52 ac (22,651 SF)
Zoning code
C1
APN
461-01-04-0045
UPID
US77-2001379
Jurisdiction
HORRY
Zoning & alternative use
C1 · Surfside Beach, SC
Zoning C1 · permitted uses
C1 · Surfside Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Surfside Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$490,000
MEDICAL BUILDING
Est. value
$725,000
RETAIL STORES Current
MEDICAL 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
2002
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Lot
0.52 ac
Current owner
From public records · entity-resolved
Michael J Arakas
Individual
Free & Clear · 12 yrs held
Mailing address
5804 COUNTRY CLB DR, MYRTLE BEACH, SC 29577-2214
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2014
$310,000
Michael J Arakas
R & L Gray Ltd
Warranty Deed
—
May 2, 2013
$120,000
R & L Gray Ltd
Richard O Reeder
Warranty Deed
—
Apr 23, 2013
—
Richard O Reeder
Richard O Reeder
Quit Claim Deed
related
—
Oct 16, 2001
$140,000
Richard O Reeder
—
Grant Deed
—
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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