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Property profile & analytics
FOR SALE
Garden apartment buildings
706 Mitchell Dr Myrtle Beach, SC 29577
Entity Owned
2-yr Hold
Free & Clear
Property ID
US77-3044429
For Sale
1 / 7
$824,000
706 Mitchell Dr, Myrtle Beach, SC 29577
View Listing →
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1998
Construction
CONCRETE
Total area
2,912 SF
Lot
0.17 ac (7,405 SF)
Zoning code
TA8
APN
443-11-02-0129
UPID
US77-3044429
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
$415k
Comparable Approach
Comparable
$538k
Blend (final)
Blend
$535k
Owner & transaction history
Ice Cream Bear LLC · 2 yrs held
Ice Cream Bear LLC
since 2024
7 recorded transactions
Zoning & alternative use
TA8 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$875,000
+6.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$450,000
6.5%
$415,000
7%
$385,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$825,000
Current use
MEDICAL BUILDING
$875,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$710,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$184 / 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
Assessed value
$16,698
Assessed 2023
Previous assessed
$16,698
+0.0% YoY
Assessed land
$5,274
Assessed improvement
$11,424
Land market value
$87,900
Improvement market value
$190,400
Total market value
$278,300
Applied tax rate
899.0000
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
For Sale
Year built
1998
Construction
CONCRETE
Heating
SOLAR
Cooling
CENTRAL
Stories
1
Rooms
3
Bathrooms
1
Total area
2,912 SF
Lot
0.17 ac (7,405 SF)
Zoning code
TA8
APN
443-11-02-0129
UPID
US77-3044429
Jurisdiction
HORRY
Zoning & alternative use
TA8 · Myrtle Beach, SC
Zoning TA8 · permitted uses
TA8 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$825,000
MEDICAL BUILDING
Est. value
$875,000
OFFICE BUILDING
Est. value
$710,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
1998
Construction
CONCRETE
Heating
SOLAR
Cooling
Yes
Stories
1
Rooms
3
Bathrooms
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Ice Cream Bear LLC
Entity
Free & Clear · 2 yrs held
Mailing address
MITCHELL DR, MYRTLE BEACH, SC 29577
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2024
—
Ice Cream Bear LLC
Saara Maherali
Warranty Deed
—
Jun 28, 2023
$770,000
Saara Maherali
506 Mitchell LLC
Warranty Deed
$577,500 · Tomo Mortgage
Feb 3, 2022
$600,000
506 Mitchell LLC
Ocean 7 INC
Warranty Deed
$464,000 · Conventus
Sep 3, 2020
$815,000
Ocean 7 INC
Dps INC Of Myrtle Bk
Warranty Deed
$710,000 · Brandt Earl J
Apr 10, 2006
$300,000
Dps INC Of South Carolina
Zeb G Davis
Warranty Deed
$240,000 · Coastal Fed'l Bk
Mar 30, 2005
$220,000
Davis,zeb G & Lisa P
Jack Ward Construction
Warranty Deed
$198,000 · Wachovia Mtg
Aug 27, 2003
$87,500
Jack C Ward
—
Grant Deed
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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