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

    Myrtle Beach, SC 29588

    • Office buildings
    • 1,170 SF
    OFF-MARKET
    Last Sale
    Dec 18, 2023
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    4.1%
    Office buildings
    Location Intelligence
    Property ID
    US77-1689949
    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

    • Office buildings

    Property Details

    Year built
    1987
    Property size
    1,170 SF
    Zone code
    HC
    Property type
    Office buildings
    APN
    448-03-03-0006
    APU
    44803030006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $255,000
      6.5%
      $235,000
      7%
      $220,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $308,000
      Market price range: $164k - $396k
      AI Estimate
      $318,000
      Market price range: $158k - $376k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $270,000
      Current use
      COMMERCIAL (GENERAL)
      $605,000
      Change: +125% Conversion: Easy
      AUTO REPAIR, GARAGE
      $440,000
      Change: +65% Conversion: Difficult
      MEDICAL BUILDING
      $355,000
      Change: +32% Conversion: Easy
      RETAIL STORES
      $240,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.997
    Latitude
    33.6654
    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
    $915
    $0.00
    $11,498
    $11,498
    -
    $0.00
    $109,500
    $109,500

    Comparable in this City

    • Value Estimation
      $475,000
      2,900 SF

      166 Co Op Rd

      OFFICE BUILDING • 2,900 SF
      166 Co Op Rd, Myrtle Beach, SC 29588-7375
      View Details
    • Value Estimation
      $460,000
      2,416 SF

      161 Mcdonald Ct

      OFFICE BUILDING • 2,416 SF
      161 Mcdonald Ct, Myrtle Beach, SC 29588-6161
      View Details
    • Value Estimation
      $375,000
      1,665 SF

      Myrtle Beach, SC 29588

      OFFICE BUILDING • 1,665 SF
      Myrtle Beach, SC 29588
      View Details
    • Value Estimation
      $345,000
      1,170 SF

      4325 Ste Hwy 544

      OFFICE BUILDING • 1,170 SF
      4325 Ste Hwy 544, Myrtle Beach, SC 29588
      View Details
    • Value Estimation
      $470,000
      2,786 SF

      101 Cimerron Dr

      OFFICE BUILDING • 2,786 SF
      101 Cimerron Dr, Myrtle Beach, SC 29588-7068
      View Details
    • Value Estimation
      $625,000
      3,556 SF

      80 Ranchette Cir

      OFFICE BUILDING • 3,556 SF
      80 Ranchette Cir, Myrtle Beach, SC 29588-6387
      View Details

    Similar Nearby for Sale

    • $599,900
      1,575 SF

      Free Standing Office Building

      Free standing office building built in 2020, ideal for professionals.
      125 Co Op Rd, Myrtle Beach, SC 29588
      View Details
    • $319,800
      1.31 Acres

      Queens Harbour Commercial Land

      1.31 Acres, Prime Myrtle Beach Location
      3005 Newcastle Loop Myrtle Bch, Myrtle Beach, SC 29588
      View Details
    • $4,500,000
      15.00 Acres

      Highway 707 Commercial Land

      15 Acres, Myrtle Beach, SC - $4.5M
      0 Tbd Hwy 707, Myrtle Beach, SC 29588
      View Details
    • $1,400,000

      Land For Sale

      Land available for sale in Myrtle Beach, South Carolina.
      424 Highland Ridge Dr, Myrtle Beach, SC 29588
      View Details
    • $240,000
      1,324 SF

      Like New Townhome in Myrtle Beach

      Two-bedroom, two-and-a-half-bath townhome in Myrtle Beach waterway community.
      516 Riverward Dr, Myrtle Beach, SC 29588
      View Details
    • $125,000
      2.03 Acres

      Myrtle Beach Acreage Near Beach

      2.03 acres near Surfside Beach, ideal for residential development.
      6374 David Ln, Myrtle Beach, SC 29588
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      20,000 SF

      Socastee Blvd Retail Center

      Prime Myrtle Beach retail space.
      4300 Socastee Blvd, Myrtle Beach, SC 29588
      View Details
    • $5,000 /Mo
      6,000 SF

      Myrtle Beach Office and Warehouse

      6,000 SF office and warehouse space with versatile layout.
      106 Lichen Ct, Myrtle Beach, SC 29588
      View Details
    • $13 SF/Yr
      1,800 SF

      Holmestown Road Office Space

      1,800 sq ft Office, Prime Location
      3260 Holmestown Rd D, Myrtle Beach, SC 29588
      View Details
    • $2,250 /Mo
      1,350 SF

      Prime Retail Space in Myrtle Beach

      High-visibility commercial unit in Northgate Plaza, Myrtle Beach.
      3566 Northgate Blvd, Myrtle Beach, SC 29588
      View Details
    • $5,500 /Mo
      3,120 SF

      Highway 17 Bypass Commercial Space

      Versatile commercial property on high-traffic Highway 17 Bypass in Myrtle Beach.
      4807 S Highway 17 Byp, Myrtle Beach, SC 29588
      View Details
    • $16 SF/Yr
      1,400 SF

      Office Space in Myrtle Beach

      1,400 SF office space in a retail center.
      2523 Forestbrook Rd, Myrtle Beach, SC 29588
      View Details
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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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