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    Property profile & analytics

    Tournament Blvd Murrells Inlet, SC 29576

    • Medical Office Space
    • 6,240 SF
    • 0.87 lot acres
    OFF-MARKET
    Last Sale
    Jul 02, 2020
    Value Estimations
    $1,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2461600
    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

    • Medical Office Space

    Property Details for Tournament Blvd

    Year built
    2019
    Construction
    CONCRETE
    Lot size
    0.87 lot acres
    Property size
    6,240 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    469-01-04-0161
    APU
    46901040161

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,555,000
      6.5%
      $1,435,000
      7%
      $1,335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,294,000
      Market price range: $498k - $1.34M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,880,000
      Current use
      RESTAURANT
      $2,190,000
      Change: +16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,975,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Murrells Inlet
    County
    Horry
    State
    South Carolina
    Longitude
    -79.0515
    Latitude
    33.5851
    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
    $16,654
    $17,010
    $58,760
    $75,770
    -
    $283,540
    $979,300
    $1,262,840

    Comparable in this City

    • Value Estimation by Request
      1,836 SF

      11931 Plz Dr

      MEDICAL BUILDING • 1,836 SF
      11931 Plz Dr, Murrells Inlet, SC 29576-9356
      View Details
    • Value Estimation
      $565,000
      4,440 SF

      4405 Hwy 17

      MEDICAL BUILDING • 4,440 SF
      4405 Hwy 17, Murrells Inlet, SC 29576-5097
      View Details
    • Value Estimation
      $665,000
      5,462 SF

      140 Bandage Ct

      MEDICAL BUILDING • 5,462 SF
      140 Bandage Ct, Murrells Inlet, SC 29576-5103
      View Details
    • Value Estimation
      $885,000
      4,320 SF

      11890 Hwy 707

      MEDICAL BUILDING • 4,320 SF
      11890 Hwy 707, Murrells Inlet, SC 29576-9712
      View Details
    • Value Estimation
      $1,790,000
      10,783 SF

      2347 Hwy 17bus

      MEDICAL BUILDING • 10,783 SF
      2347 Hwy 17bus, Murrells Inlet, SC 29576-7611
      View Details
    • Value Estimation
      $615,000
      5,067 SF

      3583 Hwy 17

      MEDICAL BUILDING • 5,067 SF
      3583 Hwy 17, Murrells Inlet, SC 29576-5002
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      44,242 SF

      SC Coastal Senior Living Opportunity

      Turnkey Assisted Living Facility, 70% Occupancy
      12287 Sc-707, Murrells Inlet, SC 29576
      View Details
    • $1,450,000

      Prime Location in Murrells Inlet

      Commercial land suitable for retail, restaurant, or medical office development.
      4500 Highway 17, Murrells Inlet, SC 29576
      View Details
    • $750,000

      Retail Opportunity in Murrells Inlet

      Commercial site suitable for restaurant, medical, or retail use.
      4540 Highway 17 S, Murrells Inlet, SC 29576
      View Details
    • Contact for pricing
      863 SF

      Highway 17 Bypass Office Space

      Move-in ready office space in Murrells Inlet, South Carolina.
      4717 Highway 17 Byp, Murrells Inlet, SC 29576
      View Details
    • $950,000

      Highway 17 Commercial Land

      2.10 acres with 319' frontage on Highway 17 Bypass.
      4878 Highway 17, Murrells Inlet, SC 29576
      View Details
    • $999,900
      1.75 Acres

      Highway Frontage Commercial Lot

      Commercial land with high visibility and water views in Murrells Inlet.
      N/W Highway 17 Byp, Murrells Inlet, SC 29576
      View Details

    Similar Nearby for Lease

    • $2,400 /Mo
      1,250 SF

      Murrells Inlet Office Space

      Multi-tenant office/retail/medical building with easy highway access. Available 4/1/26.
      637 Bellamy Ave, Murrells Inlet, SC 29576
      View Details
    • $30 SF/Yr
      1,500 SF

      Medical Office Space Available

      1,500 SF medical office for lease in Murrells Inlet.
      830 Inlet Square Dr, Murrells Inlet, SC 29576
      View Details
    • $16 SF/Yr
      1,500 SF

      Murrells Inlet Office Space For Lease

      1,500 SF Office, Prime Location, Available Now
      11947 Grandhaven Dr, Murrells Inlet, SC 29576
      View Details
    • $3,300 /Mo
      1,800 SF

      Versatile Commercial Space in Murrells

      1,800 sq ft commercial space suitable for retail/office.
      11871 Plaza Dr, Murrells Inlet, SC 29576
      View Details
    • $1,650 /Mo
      900 SF

      Highway 17 Retail/Office Space

      900 SF retail or office space on Highway 17.
      3940 Highway 17 South, Murrells Inlet, SC 29576
      View Details
    • Contact for pricing
      2,420 SF

      Office Space in Murrells Inlet

      2,420 SF office space available for rent 8/15/24.
      600 Garden City Connector, Murrells Inlet, SC 29576
      View Details
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    Murrells Inlet, SC 29576
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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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