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    Property profile & analytics

    Ocean Blvd Myrtle Beach, SC 29577

    • Retail space
    • 5,172 SF
    • 17.91 lot acres
    OFF-MARKET
    Last Sale
    Jun 02, 2023
    $1,880,000
    Value Estimations
    $1,815,000
    Show details
    Cap Rate Potential
    3.2%
    Retail space
    Location Intelligence
    Property ID
    US77-1456780
    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

    • Retail space

    Property Details for Ocean Blvd

    Year built
    2009
    Lot size
    17.91 lot acres
    Property size
    5,172 SF
    Zone code
    TA8
    Property type
    Retail space
    APN
    424-15-02-0147
    APU
    42415020147

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,340,000
      ML approach
      $2,295,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,255,000
      6.5%
      $1,160,000
      7%
      $1,075,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,330,000
      Market price range: $611k - $1.33M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,965,000
      AUTO REPAIR, GARAGE
      $1,950,000
      MEDICAL BUILDING
      $1,560,000
      APARTMENT HOUSE (5+ UNITS)
      $1,470,000
      OFFICE BUILDING
      $1,265,000
      RESTAURANT
      $1,195,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8715
    Latitude
    33.7003
    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
    $21,461
    $31,471
    $44,304
    $75,775
    -
    $524,520
    $738,400
    $1,262,920

    Comparable in this City

    • Value Estimation by Request
      1,870 SF

      914 8th N Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,870 SF
      914 8th N Ave, Myrtle Beach, SC 29577-3846
      View Details
    • Value Estimation
      $4,120,000
      20,456 SF

      1301 Coastal Grand Cir

      RETAIL STORES (PERSONAL SERVICES) • 20,456 SF
      1301 Coastal Grand Cir, Myrtle Beach, SC 29577
      View Details
    • Value Estimation by Request
      1,500 SF

      Mr Joe White Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      Mr Joe White Ave, Myrtle Beach, SC 29577
      View Details
    • Value Estimation by Request
      2,438 SF

      806 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 2,438 SF
      806 Oak St, Myrtle Beach, SC 29577-3813
      View Details
    • Value Estimation by Request
      3,455 SF

      1811 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 3,455 SF
      1811 Oak St, Myrtle Beach, SC 29577-3186
      View Details
    • Value Estimation by Request
      2,176 SF

      550 Farrow Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 2,176 SF
      550 Farrow Pkwy, Myrtle Beach, SC 29577-1899
      View Details

    Similar Nearby for Sale

    • $3,950,000
      17,372 SF

      Myrtle Beach Hospitality Opportunity

      Turnkey hospitality property near the ocean and Sky Wheel.
      300 10Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $3,775,000
      10,500 SF

      Retail Property in Myrtle Beach

      Retail property for sale in Myrtle Beach, South Carolina.
      1080 Oak Forest Ln, Myrtle Beach, SC 29577
      View Details
    • $344,000
      2,375 SF

      Retail Space on Kings Highway

      Retail space for sale on Kings Highway in Myrtle Beach.
      1609 N Kings Hwy, Myrtle Beach, SC 29577
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    • $225,000
      1,200 SF

      Turnkey Tea Bar Business

      Established tea and coffee bar in Myrtle Beach for sale.
      3091 Deville St, Myrtle Beach, SC 29577
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    • $3,950,000
      20,000 SF

      Myrtle Beach Renovated Corner Property

      Prime location near the ocean with fully renovated units.
      300 10Th Ave N, Myrtle Beach, SC 29577
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    • $1,299,000
      5,400 SF

      Commercial Building on Kings Highway

      5,400 SF commercial building divided into two rental units.
      508 N Kings Hwy, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      5,128 SF

      Oceanfront Retail & Restaurant Space

      Prime Myrtle Beach location with ocean views and beach access.
      1410 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $35 SF/Yr
      1,400 SF

      Retail Space in Market Common

      Retail space for lease in Myrtle Beach's Market Common.
      1620 Farrow Pkwy, Myrtle Beach, SC 29577
      View Details
    • $2,218 /Mo
      2,360 SF

      Myrtle Beach Office/Retail Space

      Standalone building with high visibility, suitable for office or retail.
      720 Main St, Myrtle Beach, SC 29577
      View Details
    • $4,750 /Mo
      4,110 SF

      Versatile Flex Space in Myrtle Beach

      Adaptable commercial space for lease in the Arts & Innovation District.
      716 8Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $6,000 /Mo
      2,000 SF

      Prime Retail Space For Lease

      High-visibility retail space in a bustling Myrtle Beach location.
      3405 N Kings Hwy, Myrtle Beach, SC 29577
      View Details
    • $13 SF/Yr
      5,000 SF

      Retail Space For Rent

      Retail space available for lease in Myrtle Beach, SC.
      9Th Ave N, Myrtle Beach, SC 29577
      View Details
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    Myrtle Beach, SC 29577
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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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