1293 Professional DrMyrtle Beach, SC 29577

Property Details for 1293 Professional Dr

Year built

1996

Lot size

0.61 AC

Property size (Sq ft)

10,280 SF

Zone code

OPI

Property type

Office buildings

APN

420-11-03-0063

APU

42011030063

Description

This exceptional two-story, 10,040 square foot Class B office building presents a compelling owner-user opportunity in Myrtle Beach, South Carolina's thriving Oleander Drive Office District. Situated on a 0.61-acre lot, this property boasts 32 parking spaces and is conveniently located near major roadways, including Highway 17 Bypass and Grissom Parkway, ensuring easy access for employees and clients. The building, constructed in 1996, features two units, currently at 73% occupancy with a modified lease structure. One unit, Suite C (2,400 square feet), is currently vacant and offers traditional office space including reception, multiple offices, a conference room, kitchenette, storage, and restrooms. The other unit is comprised of executive office suites under short-term leases. The property is zoned OPI and is located outside Myrtle Beach city limits in Horry County. With a strong permanent population within a five-mile radius (68,122), this location offers excellent visibility and proximity to medical, professional, retail, and residential areas. The asking price is $3,450,000. Square footage is approximate

• CAP approach

  CAP return

  Valuation

  6%

  $1,805,802

  6.5%

  $1,666,895

  7%

  $1,547,831

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,079,256

  Geo Method

  $2,359,671

• Alternative Use

  Use

  Valuation

  Residential

  $2,066,949

  Hospitality

  $1,893,314

  Educational

  $1,575,215

  Medical

  $1,629,390

  Retail

  $2,450,335

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.7317

Longitude

-78.8612

CBSA code

34820

CBSA name

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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