Riverfront Hotel With Updated
For Sale
$3,000,000
1004 Waccamaw Dr., Conway, SC 29526
COMMERCIAL/INDUSTRIAL, Yes, Conway, SC
Property Size21,098 SF
Lot Size3.84 Acres
Price / SF$142.19
Days on Market165
Property Features for 1004 Waccamaw Dr.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC
Subdivision
10A Conway to Myrtle Beach Area--between 90 & waterway Redhill/Grande Dunes
Standard status
Active
Size
21,098 SF
Lot size
3.84 Acres
Amenities
recently updated guest rooms
microwaves
refrigerators
flat-screen televisions
wireless internet
complimentary breakfast
on-site parking
Building Details
Floors in Building
2
Number of units
45
Architectural style
Other
Listing Agency:
KingOne Properties
(843) 497-9100
Listed By:
Christopher Manios · License #130603
(843) 340-4653
Added: Mar 25
Changed: Aug 19
Last Checked: Sep 5 at 10:06PM
MLS# 2610844
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 45-room hotel occupies a 21,098-square-foot property on 3.84 acres along the Waccamaw River. Guest rooms have been updated and include microwaves, refrigerators, flat-screen televisions, and wireless internet. The property also provides complimentary breakfast and on-site parking.
Located at 1004 Waccamaw Drive in Conway, the hotel sits just off Highway 501 and is positioned near downtown Conway, Coastal Carolina University, Myrtle Beach, and the Grand Strand tourism corridor. The property is zoned HC and combines lodging improvements with a riverfront setting and access to the surrounding regional destinations.
Located at 1004 Waccamaw Drive in Conway, the hotel sits just off Highway 501 and is positioned near downtown Conway, Coastal Carolina University, Myrtle Beach, and the Grand Strand tourism corridor. The property is zoned HC and combines lodging improvements with a riverfront setting and access to the surrounding regional destinations.
Key Highlights
- Approximately 45‑room hotel on 3.84 acres
- 21,098‑square‑foot hotel property along the Waccamaw River
- Updated guest rooms with microwaves, refrigerators, and flat‑screen televisions
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$135,291
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,705,820
$2.7M
Cap Rate 7%
$1,932,729
$1.9M
Cap Rate 9%
$1,503,233
$1.5M
Market Conditions
NOI Build-Up for 21,098 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$316.5K $15.00/SF
− Vacancy
−$31.6K −$1.50/SF
EGI
$284.8K $13.50/SF
− OpEx
−$149.5K −$7.09/SF
NOI
$135.3K $6.41/SF
Area
Horry County, SC
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,705,820
Cap Rate 7%
$1,932,729
Cap Rate 9%
$1,503,233
Alternative Uses
Best Use
Hotel Hospitality
$1.93M
$1.69M – $2.25M
NOI $135,291 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.35M
$4.68M – $6.24M
NOI $374,295 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Explore this area
Business Placement
Demographics for 29526, SC
51,403
Population
20,301
Households
2.5
Avg Household Size
40
Median Age
23%
College-Educated
89%
High-School Grad
175.0 sq mi
ZIP Area
294
Density / Sq Mi
$66,490
Median Household Income
$28,341
Median Earnings
$943
Median Rent
$232,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Hotel property with updated guest rooms, breakfast service, wireless internet, and on-site parking.
Where is this hotel located?
The property is located at 1004 Waccamaw Dr. Conway, SC.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Approximately 45‑room hotel on 3.84 acres; 21,098‑square‑foot hotel property along the Waccamaw River; Updated guest rooms with microwaves, refrigerators, and flat‑screen televisions
