Parkway at 31
Parkway at 31 is a premier commercial and retail hub located in a strategic area, renowned for its diverse range of stores and services. Established over two decades ago, the center has evolved from a modest shopping plaza into a vibrant destination that caters to the needs of the local community. Over the years, Parkway at 31 has expanded its amenities and facilities, attracting a variety of tenants including retail shops, dining establishments, and professional offices. Its commitment to quality and customer satisfaction has made it a favored locale for shopping, dining, and business operations in the region. The center continues to adapt and grow, reflecting the dynamic nature of the local economy and community needs.
News Summary
The Parkway at 31, a new luxury apartment complex near North Myrtle Beach, has been listed for sale for $46 million after less than a year of operation. Featuring 200 rental units, the complex boasts multiple amenities including swimming pools and a fitness center. Despite its recent opening, uncertainty surrounds the reasons behind the sale. The complex offers a variety of configurations, with rents starting at $1,445, and potential for further development of additional units. The local real estate market appears to be shifting as other properties are also put on the market.
North Myrtle Beach – The Parkway at 31, a luxury apartment complex located just outside North Myrtle Beach, has been put up for sale for $46 million less than a year after it opened. The complex, situated at 10600 SC 90, began welcoming residents at the end of 2024, as stated by the complex manager.
200 Units Available
The Parkway at 31 features a total of 200 units, with various configurations including one-bedroom apartments with one bathroom, up to three-bedroom units with two bathrooms. Prices for renting these apartments start at $1,445 for a one-bedroom unit and can go up to $2,045 for a three-bedroom unit.
Notable Amenities
This complex is equipped with several attractive features for residents, including two swimming pools, a fitness center, and a dedicated dog park. Investment in these amenities suggests a focus on enhancing the living experience for potential tenants.
At the listed price of $46 million, the cost per unit amounts to approximately $230,000. In addition to the existing 200 units, there are plans for further development, with space available for the construction of an additional 130 units.
Management and Market Insights
There has been little information provided from the management team at Parkway at 31 regarding the reasons for the sale, as attempts to reach them for comment have been unsuccessful. It remains unclear what factors have led to this significant decision so soon after the complex’s opening.
In addition to Parkway at 31, another property near the Myrtle Beach oceanfront has also been listed for sale. A 19-unit apartment complex located at 505 28th Ave. North is currently for sale at $1.75 million. This building, constructed in 1966, was previously listed in November 2024 with a revised price following a drop from an earlier asking price of under $2 million in June 2024.
The 505 28th Ave. North complex has undergone several renovations, which have made it more appealing to potential buyers. According to Horry County Land Records, this property had been last sold in 2021 for approximately $1.3 million and currently holds a market value of over $1.1 million.
Market Trends
The trend of selling properties in the Myrtle Beach area is echoed by a range of other apartment complexes and hotels that are currently on the market. Realtor insights indicate a cooling market for purchasing independent hotels, suggesting a broader trend in the real estate landscape in this coastal region.
Overall, the swift listing of the Parkway at 31 for such a substantial sum raises questions in the real estate community, signaling possible shifts in demand or operational challenges faced by the management in this competitive rental market.
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Additional Resources
- MSN: North Myrtle Beach Area Apartments for Sale
- Wikipedia: Real Estate
- Myrtle Beach Online: Local News Article
- Google Search: North Myrtle Beach Real Estate
- WYFF4: Myrtle Beach Shooting News
- Google Scholar: Myrtle Beach Real Estate Trends
- Myrtle Beach Online: Additional Local News
- Encyclopedia Britannica: Real Estate
- Post and Courier: Tropical Storm Warning for Myrtle Beach
- Google News: Myrtle Beach Real Estate
Author: STAFF HERE MYRTLE BEACH
The HERE Myrtle Beach Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Myrtle Beach community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Myrtle Beach Our team includes lifelong Myrtle Beach residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent developments along the Grand Strand, Myrtle Beach’s tourism and hospitality industry, and growth in local education sectors (e.g., Coastal Carolina University programs). Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Myrtle Beach Area Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
