Riverfront Hotel With Updated Guest
For Sale
$3,000,000
1004 Waccamaw Dr., Conway, SC 29526
COMMERCIAL - Conway, SC
Property Size21,098 SF
Lot Size3.84 Acres
Price / SF$142.19
Days on Market146
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
microwaves
refrigerators
flat-screen televisions
wireless internet
complimentary breakfast
on-site parking
riverfront surroundings
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 13
Last Checked: Aug 17 at 3:06AM
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.
River Front Inn is an approximately 45-room hotel on a 3.84-acre property along the Waccamaw River. The 21,098-square-foot lodging facility includes recently updated guest rooms furnished with microwaves, refrigerators, flat-screen televisions, and wireless internet. Complimentary breakfast and on-site parking are also provided. The property is zoned HC.
Located at 1004 Waccamaw Dr. in Conway, South Carolina, the hotel sits just off Highway 501 and offers access to downtown Conway, Coastal Carolina University, Myrtle Beach, and the Grand Strand tourism corridor. Its riverfront setting provides a distinct physical characteristic within the lodging market, while the existing room improvements and guest amenities support continued hotel operations.
The asset combines a substantial room count with a separate outdoor setting on acreage, creating an established hospitality property with existing guest accommodations and operational features in place.
Located at 1004 Waccamaw Dr. in Conway, South Carolina, the hotel sits just off Highway 501 and offers access to downtown Conway, Coastal Carolina University, Myrtle Beach, and the Grand Strand tourism corridor. Its riverfront setting provides a distinct physical characteristic within the lodging market, while the existing room improvements and guest amenities support continued hotel operations.
The asset combines a substantial room count with a separate outdoor setting on acreage, creating an established hospitality property with existing guest accommodations and operational features in place.
Key Highlights
- Approximately 45‑room hotel along the Waccamaw River
- 21,098 square feet on 3.84 acres
- Recently updated guest rooms with microwaves, refrigerators, flat‑screen TVs, and wireless internet
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
Location Intelligence
Trade Area within ½ mile
44
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 - Approximately 45-room lodging property with river frontage, guest-room amenities, complimentary breakfast, 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 along the Waccamaw River; 21,098 square feet on 3.84 acres; Recently updated guest rooms with microwaves, refrigerators, flat‑screen TVs, and wireless internet
