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    The Largest CRE Database in the US with Over 1 Million Listings

    606 N Ocean Blvd Myrtle Beach, SC 29577

    Sponsored
    For Sale
    $7,600,000

    Hospitality - Myrtle Beach, SC

    Property size:
    23,336 SF
    Days on Market:
    57
    Last Refresh:
    Feb 13 at 7:06 pm

    Property Features for 606 N Ocean Blvd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MU-H Mixed
    Exterior features
    Elevator-Passenger, Fixtures/Furniture, Reception Area, Kitchen Facility, Restrooms - Public, Restrooms - Private, Display Windows, Sign, 220-Volt Power, 440-Volt Power, Inside Storage
    Accessibility
    Accessible Elevator Installed
    Size
    23,336 SF

    Building Details

    Floors in Building
    3
    Number of units
    54
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Liat Edri
    Liat Edri

    Realty ONE Group Dockside (843) 492-4030

    Listing agent Liat Edri (843) 492-4030

    Listing date Dec 19, 2025

    MLS# 2526068 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Oceanfront Hospitality Property with Restaurant

    Located on Ocean Boulevard and 7th Avenue North in Myrtle Beach, South Carolina, The Diplomat is an oceanfront property featuring a 54-unit building and a commercial restaurant space. The property includes an additional parcel at 301 7th Avenue North, which is used as a parking lot. The main parcel is 0.6 acres, with the vacant parking lot adding 0.2 acres, for a total of 0.8 acres. The building encompasses approximately 24,000 square feet. The street-level commercial restaurant was renovated in 2025. Situated in Myrtle Beach’s entertainment district, the property benefits from strong walk-in traffic along the Grand Strand’s primary tourism corridor. Exterior amenities include a pool and two beach accesses. The Boardwalk, opened in 2010, provides 200 feet of hotel frontage directly in front of the property. A pizzeria offering a diverse cuisine is located on the premises. Nearby attractions include Ripley's Believe It Or Not, the Myrtle Beach SkyWheel, Sling Shot, The Gay Dolphin gift shop, The Bowery, and I LOVE SUGAR candy store. The property is located where the new Hwy 501 East Connector will end. The zoning for the main parcel is MU-H (Mixed Use High Density) for main parcel; Downtown Redevelopment, and the area is a Floating Zoning area and an Opportunity Zone updated in 2018.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8822115
    Latitude
    33.6891779

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    FAQs

    What type of property is this?
    Hotel - Oceanfront 54-unit building with commercial restaurant space and parking lot.
    Where is this hotel located?
    The property is located at 606 N Ocean Blvd Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $7,600,000.
    What are key features of this property?
    This property features: - Prime oceanfront location on Ocean Boulevard, directly on the Boardwalk and near the Myrtle Beach SkyWheel.; - Mixed-use property with **54 residential units** and a street-level commercial restaurant space, offering diverse income streams.; - Additional 0.2-acre parking lot included, a valuable asset in a high-traffic tourism area.
    (843) 222-6357
    Request Owner's contact information
    606 N Ocean Blvd Myrtle Beach, SC 29577
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    Myrtle Beach, SC 29577
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    606 N Ocean Blvd Myrtle Beach, SC 29577
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    We can help!
    Listing Contact
    Liat Edri
    Liat Edri
    Real Estate License ID: 59354
    (843) 222-6357 (843) 492-4030 (843) 444-4764
    Learn more
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