Oceanfront 50-Unit
For Sale
$4,720,000
1415 S Ocean Blvd., North Myrtle Beach, SC 29582
COMMERCIAL/INDUSTRIAL, North Myrtle Beach, SC
Property Size21,693 SF
Lot Size0.57 Acres
Price / SF$217.58
Days on Market102
Property Features for 1415 S Ocean Blvd.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-4
Exterior features
Elevator-Passenger, Fixtures/Furniture, Office(s), Reception Area, Restrooms - Private, Sign
Accessibility
Accessible Elevator Installed
Subdivision
11C North Myrtle Beach Area--Crescent Beach
Standard status
Active
Size
21,693 SF
Lot size
0.57 Acres
Amenities
oceanfront event space
sparkling pool
inviting deck
direct beach access
Building Details
Floors in Building
5
Number of units
50
Listing Agency:
RE/MAX Southern Shores · RE/MAX International
(843) 839-0200
Listed By:
Richard Singleton · License #26622
(843) 267-3585
Added: May 20
Changed: Aug 19
Last Checked: Aug 29 at 4:06PM
MLS# 2613023
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.
The property is a five-story hotel containing 50 efficiency units, with adjoining rooms and ocean views from every room. The 21,693-square-foot building includes an oceanfront event space, pool, deck, reception area, private restrooms, offices, signage, furniture, and fixtures. An accessible passenger elevator is installed.
Located at 1415 S Ocean Blvd. in North Myrtle Beach, the hotel provides direct access to the beach and sits near retail, dining, and entertainment venues. The property occupies 0.57 acres and carries R-4 zoning.
Located at 1415 S Ocean Blvd. in North Myrtle Beach, the hotel provides direct access to the beach and sits near retail, dining, and entertainment venues. The property occupies 0.57 acres and carries R-4 zoning.
Key Highlights
- 50‑unit, five‑story hotel with 21,693 square feet
- Oceanfront setting with views from every room
- Direct beach access, oceanfront event space, pool, and deck
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
$139,106
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
2.95%
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%
$2,782,120
$2.8M
Cap Rate 7%
$1,987,229
$2.0M
Cap Rate 9%
$1,545,622
$1.5M
Market Conditions
NOI Build-Up for 21,693 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
$325.4K $15.00/SF
− Vacancy
−$32.5K −$1.50/SF
EGI
$292.9K $13.50/SF
− OpEx
−$153.7K −$7.09/SF
NOI
$139.1K $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%
$2,782,120
Cap Rate 7%
$1,987,229
Cap Rate 9%
$1,545,622
Alternative Uses
Best Use
Hotel Hospitality
$1.99M
$1.74M – $2.32M
NOI $139,106 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.50M
$4.81M – $6.41M
NOI $384,851 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Five-story hospitality property with direct beach access, event space, pool, and oceanfront deck.
Where is this hotel located?
The property is located at 1415 S Ocean Blvd. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $4,720,000.
What are key features of this property?
This property features: 50‑unit, five‑story hotel with 21,693 square feet; Oceanfront setting with views from every room; Direct beach access, oceanfront event space, pool, and deck
