Everyone thinks Myrtle Beach retail is souvenir shops and pancake houses. And yeah, that exists. Drive down Kings Highway or Ocean Boulevard and it’s wall-to-wall tourist retail. But that’s not what I buy. And honestly, it’s not what’s interesting about the Myrtle Beach retail market.
The interesting stuff is inland. It’s the strip centers and neighborhood retail serving the 30-plus percent population growth that Horry County has experienced over the last decade. People who live here year-round need the same services people everywhere need. That’s the real retail story. Not the boardwalk.
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**Tourism vs. Local**: Is your property serving tourists or locals? The distinction directly impacts tenant type, pricing, and occupancy stability. -
**Seasonal Patterns**: If you own strip properties, model occupancy for peak and off-season. Your cap rate needs to account for variability. -
**Tenant Diversification**: Local properties benefit from diverse tenants. Strip properties are often dominated by seasonal national chains.
Where the permanent population shops
Highway 17 Bypass from Myrtle Beach through Surfside and into Murrells Inlet is the main retail corridor for permanent residents. Big national retailers are here — Walmart, Target, Lowes, Home Depot. But sandwiched between them are strip centers with local tenants. Hair salons, dentists, insurance offices, UPS stores, Chinese restaurants, urgent care clinics. The stuff people actually use every week.
What Supports Stronger Pricing
- Local neighborhood locations serving permanent residents
- Grocery, healthcare, or service anchors with year-round traffic
- Properties with steady off-season occupancy
- Locations near growing residential communities
- Mixed local and national tenant base
What Gives Buyers Leverage
- Heavy dependence on seasonal tourist traffic
- National retailers-only tenant profile
- Extreme seasonal occupancy swings
- Locations away from permanent resident population
- Difficulty attracting off-season local tenants
These strip centers perform well because the traffic counts are high and the tenants are needs-based. Nobody needs a souvenir shop in November. But they do need a dentist in November. A dry cleaner in January. An oil change in March. That distinction is everything when you’re underwriting retail property in Myrtle Beach. Service-oriented tenants with year-round demand beat tourist-dependent tenants every single time.
| Myrtle Beach Retail Corridors | Tenant Mix | Seasonality |
|---|---|---|
| Ocean Blvd / Kings Hwy | Tourist retail, restaurants | Highly seasonal |
| Highway 17 Bypass | National + local service retail | Low seasonality |
| Highway 501 | Highway commercial, services | Minimal |
| Carolina Forest Blvd | Suburban service retail | None |
| North Myrtle Beach (Hwy 17) | Medical, service retail | Low |
Carolina Forest — the retail case study
Carolina Forest might be the best example of what I’m talking about. It’s a master-planned residential community that’s grown from basically nothing to one of the most populated areas of Horry County. Tens of thousands of residents in a relatively compact area. And all those residents created demand for commercial services that didn’t exist 15 years ago.
The retail along Carolina Forest Boulevard is pure suburban service retail. Grocery stores, medical offices, banks, restaurants, salons. Zero tourist influence. None. The tenants here serve rooftops, period. And the occupancy reflects it — these centers stay full because the residential density supports them. When there are 15,000 households within a five-mile radius, a strip center with a dentist, a nail salon, and a Subway is going to stay occupied. The math just works.
What I buy
Strip centers with 5-10 units, 1,000-3,000 SF each, leased to service tenants. I want buildings along Highway 17 Bypass, Carolina Forest Boulevard, Highway 501, and the Highway 9 corridor in North Myrtle Beach. I want tenants that don’t depend on tourists — medical, personal services, food, convenience. The boring stuff that makes money year-round.
Related: Top Employers in the Myrtle Beach Metro: Beyond the Boardwalk
I’m also interested in the smaller freestanding retail buildings. A standalone building with a drive-through on Highway 17 is incredibly versatile. Banks, coffee shops, fast-casual restaurants, insurance agencies — they all want that format. If the current tenant leaves, the next one is usually easy to find because the drive-through is the asset, not just the building.
What I pass on: tourist-oriented retail on Ocean Boulevard or Kings Highway. That’s a different business with different risk factors and frankly a different buyer profile. Not my game. I buy the stuff that works whether it’s July or January.
For more on how commercial property in Myrtle Beach is evolving with the population growth, check out my broader market analysis.
Also worth reading: my piece on the diversifying economy beyond tourism.
Seller takeaway
Many Myrtle Beach retail owners treat the entire market as one. It’s not. Understanding whether you’re serving tourists or locals fundamentally changes your value. Call Roth Capital at 704-600-3839 to position your property correctly.
Own retail property away from the tourist strip? That’s exactly what I’m looking for. 704-600-3839.
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