Ocean-View Motel With
For Sale
$2,300,000
101 Flagg St., Myrtle Beach, SC 29577
35-unit motel offering ocean views from every building, plus a swimming pool and furnished units.
Property Size23,000 SF
Price / SF$100
Days on Market93
Property Features for 101 Flagg St.
General Information
Standard status
Active
Size
23,000 SF
Additional Details
Business Included
Yes
Multifamily Units
35
Listing Agency:
Century 21 Stopper &Associates
(843) 685-2751
Listed By:
Robyn Ashleigh Davis
(727) 481-8077
Source:
Edgarwilson
Added: Jul 16
Changed: Oct 10
Last Checked: Oct 14 at 10:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Stopper &Associates
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Investment Insights
Based on property information with market context.
The Calypso Motel is a 35-unit motel with a mix of 1, 2, 3, and efficiency units. The property is described as being 3rd row, with ocean views from every building. Units are furnished, and the sale includes all property.
The motel is centrally located in Myrtle Beach, with the remarks noting it is across from 2nd Avenue Pier, Family Kingdom Amusement Park, and the boardwalk along the Carolina Golden Coast.
The complex also includes a swimming pool and an on-site livable office condo that is described as suitable for an owner or property manager.
The motel is centrally located in Myrtle Beach, with the remarks noting it is across from 2nd Avenue Pier, Family Kingdom Amusement Park, and the boardwalk along the Carolina Golden Coast.
The complex also includes a swimming pool and an on-site livable office condo that is described as suitable for an owner or property manager.
Key Highlights
- 35‑unit motel with ocean views from every building
- 3rd‑row location across from 2nd Ave Pier, Family Kingdom Amusement Park, and the boardwalk
- All units furnished, with all property conveying with the sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,488
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,949,760
$2.9M
Cap Rate 7%
$2,106,971
$2.1M
Cap Rate 9%
$1,638,756
$1.6M
Market Conditions
NOI Build-Up for 23,000 SF
Gross rent
$345.0K $15.00/SF
− Vacancy
−$34.5K −$1.50/SF
EGI
$310.5K $13.50/SF
− OpEx
−$163.0K −$7.09/SF
NOI
$147.5K $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 Rate 5%
$2,949,760
Cap Rate 7%
$2,106,971
Cap Rate 9%
$1,638,756
Alternative Uses
Best Use
Hotel Hospitality
$2.11M
$1.84M – $2.46M
NOI $147,488 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.83M
$5.10M – $6.80M
NOI $408,038 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
35
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
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- Sea Mist Jewel — 1202 S Ocean Blvd, Myrtle Beach, SC 29577
- The Beach Club at Montego Inn — 1307 S Ocean Blvd, Myrtle Beach, SC 29575
Frequently Asked Questions
What type of property is this?
Motel - 35-unit motel offering ocean views from every building, plus a swimming pool and furnished units.
Where is this motel located?
The property is located at 101 Flagg St. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 35‑unit motel with ocean views from every building; 3rd‑row location across from 2nd Ave Pier, Family Kingdom Amusement Park, and the boardwalk; All units furnished, with all property conveying with the sale
