1320 Highway 501

Description

Property Overview Location: 1320 Highway 501, Myrtle Beach, SC 29577 Size: Approximately 1.3 acres Zoning: Commercial Property Highlights Prime Commercial Lot: This 1.3-acre parcel offers a unique opportunity for commercial development in a high-traffic area. High Visibility: Situated directly on Highway 501, the property benefits from substantial daily traffic, enhancing business exposure. Development Potential: The lot's size and zoning provide flexibility for various commercial ventures. Proximity to Surrounding Highways Highway 501: Direct frontage, serving as a primary artery into Myrtle Beach. Highway 17: Approximately 1 mile southeast, connecting the Grand Strand region. Highway 31 (Carolina Bays Parkway): About 5 miles west, offering a bypass around Myrtle Beach. Highway 544: Roughly 4 miles southwest, linking to Coastal Carolina University and Conway. New Developments and Businesses in the Area. Commercial Growth: The vicinity has seen an uptick in commercial listings, such as a 9.23-acre lot at the intersection of Highway 501 and Forestbrook Road, indicating robust development activity. Retail and Services: The area hosts a variety of retail outlets, dining establishments, and service providers, catering to both locals and tourists. Proximity to Downtown Myrtle Beach Downtown Access: The property is conveniently located approximately 2 miles northwest of downtown Myrtle Beach, providing easy access to the city's core attractions and amenities. Horry County and Myrtle Beach Growth Information Population Growth: Horry County experienced a 9% population increase between 2020 and 2022, totaling a 42% rise since 2010. Horry County, South Carolina, has experienced significant population growth in recent years. Between July 1, 2022, and July 1, 2023, the county attracted over 15,000 new residents through domestic migration, ranking it 10th in the nation for that period. This influx reflects a broader trend, as the county's population has grown by approximately 57.66% since 2010, reaching an estimated 426,140 residents in 2025. Additionally, Myrtle Beach, located within Horry County, has been recognized as the fastest-growing city in the United States for 2023. Tourism Impact: In 2023, Myrtle Beach attracted 17.6 million visitors, who spent billions during their stay. In 2024 there was a 4.7% increase in revenue from the previous year. Medical Facilities in the Area Grand Strand Medical Center: A comprehensive hospital offering emergency services, surgical care, and specialty treatments, located approximately 4 miles northeast. Conway Medical Center: A full-service hospital providing a range of healthcare services, situated about 12 miles northwest. Grand Strand Regional Medical Center is located about 5 miles from the property. This property at 1320 Highway 501 presents a prime opportunity for commercial development in a rapidly growing area, with excellent access to major highways, burgeoning local developments, and a thriving tourism industry.