I get a lot of skepticism when I tell people I buy commercial real estate in Myrtle Beach. They assume it’s all hotels and t-shirt shops and seasonal stuff that dries up in November. And ten years ago they would’ve been mostly right.
Not anymore.
-
Tenant Mix: Year-Round vs. Seasonal: What percentage of your tenants depend on summer tourism vs. steady local demand? More year-round = premium valuation. -
Service Economy Exposure: HVAC, plumbing, automotive, and logistics tenants are gold in Myrtle Beach. They’re not seasonal and they don’t leave. -
Growth Corridor Location: Are you in established Myrtle Beach or in the growth corridors north toward Little River or south toward Pawleys Island? Growth areas see better buyer stacks. -
Lease Stability and Duration: Year-round service tenants with 3+ year leases command multiples that seasonal retailers can’t touch. -
Property Type: Flex and light industrial are hotter than general retail. Document ceiling heights and bay sizes.
Myrtle Beach has grown up
The Myrtle Beach metro (which really means Horry and Georgetown Counties) has been one of the fastest-growing areas in South Carolina. People are moving here full-time. Retiring here. Starting businesses here. The population has grown something like 25-30% since 2010. That’s not a tourist number. That’s permanent.
What drives Myrtle Beach premium pricing
- Year-round service tenants (HVAC, plumbing, automotive, logistics)
- Small-bay flex buildings with roll-up doors
- Tenants with 3+ year lease terms
- Growth corridor locations (Highway 17 north/south expansion)
What limits Myrtle Beach valuations
- Tourism-dependent retail and restaurants
- High seasonal vacancy or short-term leases
- Off-corridor properties without growth momentum
- Seasonal tenants with summer-only patterns
And when the population grows, the service economy grows with it. Contractors, trades, healthcare, logistics. All the stuff that needs commercial space. The self-storage market in Myrtle Beach is a good example. Strong occupancy, growing rates, steady demand from people moving in and needing temporary storage while they figure out housing.
What I buy here
I’m selective in Myrtle Beach. I’m not buying hotels or oceanfront tourist retail. What I like is the service infrastructure. Small-bay flex parks along the 501 and 17 Bypass corridors. Neighborhood retail in Conway and Surfside with year-round tenants. The kind of buildings that serve the local population, not the tourists.
Had a conversation with an owner in the Carolina Forest area recently. He had a 12,000 SF strip center. Mix of a hair salon, a martial arts studio, a tax prep place, and a sandwich shop. All on 3-5 year leases. Building was maybe 15 years old, good shape. He was tired of managing it from two hours away. We worked out a deal and closed in about five weeks.
That’s the typical Myrtle Beach seller I work with. Not a distressed situation. Just someone who’s ready to move on and doesn’t want the hassle of listing it.
Things to know if you’re selling
Insurance is a factor here, same as Wilmington. Coastal premiums are high. Wind and hail deductibles on commercial policies can be 3-5% of the insured value. That’s a real cost that buyers underwrite carefully.
Seasonality still affects some asset types. If your retail tenant’s revenue drops 40% from November to February, that lease isn’t as secure as one where the business has consistent year-round sales. I look at tenant financials when I can get them.
The 501 corridor and the Market Common area are the strongest submarkets for year-round commercial. If your property is in one of those areas, you’re in a good spot.
Seller takeaway
If you own service, trade, or flex space in Myrtle Beach or Horry/Georgetown County, the market’s growth is based on year-round population, not tourism alone. Call Roth Capital at 704-600-3839 to understand your property’s value in SC’s fastest-growing metro.
Thinking about selling? I buy direct. No listing, no commission. Let’s talk. 704-600-3839.
Ready to explore your options?
Tell us about your property. We will follow up within one business day.
Recent Comments