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Property profile & analytics
FOR SALE
Garden apartment buildings
818 Bay St Myrtle Beach, SC 29577
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US77-1718575
For Sale
1 / 39
$1,398,000
818 Bay St, Myrtle Beach, SC 29577
View Listing →
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1970
Total area
3,944 SF
Lot
0.26 ac (11,326 SF)
Zoning code
MR7
APN
420-13-04-0120
UPID
US77-1718575
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
$875k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$682k
Blend (final)
Blend
$770k
Owner & transaction history
Bay Street 25 LLC · 1 yrs held
Bay Street 25 LLC
since 2025
Last sale
$875,000
5 recorded transactions
Zoning & alternative use
MR7 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+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
$745,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
$605,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,120,000
Current use
MEDICAL BUILDING
$1,190,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$965,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$770k
Range $693k – $847k · ±10% · vs last sale $875k (Mar 13 2025)
Last sale anchor
$875k
Mar 13 2025
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
$195 / 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
$2,463
Tax year 2023
Assessed value
$9,305
Assessed 2023
Effective rate
26.47%
On assessed value
Assessed land
$5,400
Assessed improvement
$3,905
Land market value
$90,000
Improvement market value
$94,500
Total market value
$184,500
Applied tax rate
800.0000
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
1970
Heating
HEAT PUMP
Total area
3,944 SF
Lot
0.26 ac (11,326 SF)
Zoning code
MR7
APN
420-13-04-0120
UPID
US77-1718575
Jurisdiction
HORRY
Zoning & alternative use
MR7 · Myrtle Beach, SC
Zoning MR7 · permitted uses
MR7 · 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
$1.1M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$965,000
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
1970
Heating
HEAT PUMP
Lot
0.26 ac
Current owner
From public records · entity-resolved
Bay Street 25 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
816 BAY ST, MYRTLE BEACH, SC 29577-0803
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2025
$875,000
Bay Street 25 LLC
Cypress Ave Equities LLC
Warranty Deed
—
Jan 3, 2025
$630,000
Chaffin Enterprises LLC
Claude Leon Todd
Warranty Deed
—
May 15, 2008
—
Todd,darrell & Annie L W
Darrell Todd
Quit Claim Deed
related
—
Apr 5, 2001
—
Claude L Todd
—
Deed Of Trust
related
—
Mar 14, 2001
—
Darrell Todd
—
Deed Of Trust
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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