Myrtle Beach Commercial Real Estate Market
Myrtle Beach's commercial real estate market runs on tourism — 20 million annual visitors generating $14 billion in economic impact create demand for hospitality, restaurant, retail, and entertainment properties that is unmatched in South Carolina. The Grand Strand's 60-mile coastline from Little River to Pawleys Island provides the geographic framework, with commercial density concentrated along Ocean Boulevard, Kings Highway, US-17 Bypass, and the US-501 corridor connecting the beach to Conway and I-95. Understanding seasonal revenue patterns is essential: peak summer months generate 40-50% of annual revenue for many tourism-dependent properties.
Beyond tourism, the Grand Strand's permanent population exceeds 480,000 and is growing rapidly, driven by retirees and remote workers drawn to coastal affordability relative to Charleston or Florida. This year-round resident base supports commercial demand that extends beyond the tourist season: grocery-anchored retail, medical office, and professional services maintain occupancy regardless of tourism cycles. Conway Medical Center (now McLeod Health) and Grand Strand Medical Center anchor healthcare demand. Coastal Carolina University in Conway adds 12,000 students. The industrial market along US-501 and SC-544 serves distribution and construction supply tenants.
Myrtle Beach's buyer pool splits into two distinct segments: hospitality and tourism-focused investors who understand seasonal revenue patterns and underwrite to annual metrics, and year-round fundamentals investors who target healthcare, grocery-anchored retail, and professional office serving the permanent population. Properties that cross both segments — tourist-enhanced retail that also serves residents — attract the broadest competition. For sellers, correctly identifying which buyer segment matches your property and presenting financials in the format that segment expects is the key to competitive offers.
Top Property Types in Myrtle Beach
Retail & Entertainment
The Grand Strand's tourism economy creates demand for hospitality, entertainment, and restaurant properties that is unmatched in South Carolina. Oceanfront hotels, family entertainment centers, miniature golf courses, and beachfront restaurants operate in a market where 20 million annual visitors generate massive foot traffic during peak months. Properties along Ocean Boulevard, Kings Highway, and the Broadway at the Beach entertainment district command pricing driven by tourism metrics — revenue per available room, seasonal occupancy patterns, and entertainment spending per visitor. Sellers of hospitality properties need to present financials in a format that tourism-focused investors expect.
Hospitality & Mixed-Use
The Grand Strand's rapidly growing permanent population — now exceeding 480,000 — drives year-round retail demand that is increasingly separate from tourism. Grocery-anchored centers with Harris Teeter, Publix, or Kroger anchors along US-17 Business and in Surfside Beach, Murrells Inlet, and Carolina Forest serve the resident base regardless of tourist season. These properties attract a different buyer profile than tourism-dependent retail — fundamentals investors who value the population growth story and year-round income stability. Cap rates for resident-serving retail run tighter than tourism-dependent properties.
Industrial & Service
Grand Strand Medical Center and McLeod Health operate major hospital campuses serving both the permanent population and injured or ill tourists. The growing retiree population — Myrtle Beach consistently ranks among top retirement destinations — amplifies healthcare utilization well beyond what the working-age population would produce. Medical office along 82nd Parkway, the Robert Grissom Parkway medical corridor, and in Murrells Inlet serves physicians and specialists who treat a patient base drawn from the entire Grand Strand. Multi-tenant medical buildings with long-term leases achieve the tightest cap rates in the non-tourism Myrtle Beach market.
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Cap rates vary significantly by location and tourism exposure. Beachfront and high-traffic corridors command premiums.
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