Myrtle Beach, South Carolina: A Premier Destination for Commercial Real Estate

Introduction

Myrtle Beach, South Carolina, is an emerging hotspot for commercial real estate (CRE) investment, boasting a dynamic economy and strategic positioning that make it attractive to investors and developers alike. Known for its thriving tourism industry, Myrtle Beach is also expanding its commercial sectors, offering diverse opportunities in office, industrial, and retail spaces. With a population of approximately 35,000, the city is a vibrant community with significant growth potential in the CRE market.

Economic and Industry Overview

Myrtle Beach's economy is primarily driven by tourism, but it is also seeing growth in other sectors such as healthcare, retail, and education. The city's burgeoning industrial sector is attracting logistics and distribution companies, leveraging its strategic location. The Myrtle Beach Regional Economic Development Corporation is actively working to diversify the economy by promoting industries such as aerospace and manufacturing, which are key drivers of demand for commercial properties.

Strategic Location and Transportation Infrastructure

Myrtle Beach offers robust transportation infrastructure that contributes significantly to its CRE appeal. Situated along the Atlantic coast, the city provides logistical advantages with its proximity to major highways, including U.S. Route 17 and South Carolina Highway 31. The Myrtle Beach International Airport offers connectivity for business travel. Additionally, the presence of the nearby Port of Georgetown enhances the city's capabilities for freight and cargo, making it an attractive location for distribution centers. For more information, visit the South Carolina Department of Transportation.

Commercial Real Estate Inventory & Zoning

Myrtle Beach's CRE market is comprised of several submarkets, including the Central Business District (CBD), industrial corridors, and emerging innovation districts. Key asset classes in the region include industrial, retail, office, and medical spaces. The city is proactive in updating zoning regulations to attract developers, offering incentives such as tax abatements and expedited permitting. For zoning maps and parcel information, visit Myrtle Beach's zoning map.

Major Employers and Institutions

Several major employers in Myrtle Beach contribute to the demand for commercial real estate. These include healthcare institutions like Grand Strand Health, educational institutions such as Coastal Carolina University, and retail giants like Broadway at the Beach. These entities not only drive employment but also create a need for office and retail spaces. For more information, explore the Myrtle Beach Economic Development Corporation.

Notable Commercial Developments & Projects

Myrtle Beach is witnessing significant commercial developments, including mixed-use projects and innovation parks. Notable developments include the Myrtle Beach Downtown Redevelopment, which aims to transform the city's core into a vibrant economic hub. Public-private partnerships and Opportunity Zones are being leveraged to foster growth. Details on these projects can be found at the Myrtle Beach Planning Department.

Building Permits, Planning, and Development Tools

For developers and investors, accessing building permits and planning resources is crucial. The city offers a range of tools including: - Building and Safety Department - Permitting Portals - Parcel Map Viewer - Planning Commission - Development Code

Market Data & Economic Reports

Myrtle Beach's economic landscape is supported by various data sets and reports. Public data from census.gov and the city’s open data portal are available to provide insights into market trends and economic impacts. Brevitas uses AI-powered aggregation from public data and internal insights, offering a comprehensive view of the market. Explore Brevitas-powered dashboards for Myrtle Beach here.

Why Use Brevitas for Myrtle Beach, South Carolina CRE?

Brevitas provides a cutting-edge platform for CRE professionals in Myrtle Beach, offering: - AI-driven CRE discovery - Real-time market alerts - Smart property pages - Dealroom collaboration

Unique features include auto-generated listing pages, email and landing page tools, and seamless integration with brokers and developers. With exclusive listings and premium exposure, Brevitas is the go-to marketplace for Myrtle Beach's commercial real estate opportunities.

For more information, visit Brevitas.