Ocean-View Motel With
101 Flagg St Myrtle Beach, SC 29577
101 Flagg St, Myrtle Beach, SC, 29577
$2,300,000
For Sale
$2,300,000
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 Market19
Property Features for 101 Flagg St
General Information
- Standard status
- Active
- Size
- 23,000 SF
Listing Agency
Century 21 Stopper &Associates
(727) 481-8077
Listed by
Robyn Ashleigh Davis
(727) 481-8077
Source
Exprealty
Added: Jun 29 Checked: Jul 17 at 2:49 am
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
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
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $345.0k | $15.00 |
| − Vacancy | −$34.5k | −$1.50 |
| EGI | $310.5k | $13.50 |
| − OpEx | −$163.0k | −$7.09 |
| NOI | $147.5k | $6.41 |
23,000 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 52.50%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Calypso Inn
Hotel & Motel
MR. and MRS. mobile ...
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Captain's Quarters Resort — 901 S Ocean Blvd, Myrtle Beach, SC 29577
- Polynesian Ocean Front Hotel — 1001 S Ocean Blvd, Myrtle Beach, SC 29577
- Ocean Plaza Motel — 1005 S Ocean Blvd, Myrtle Beach, SC 29577
- Water Park Hotel — 1106 S Ocean Blvd, Myrtle Beach, SC 29577
- Ocean Inn — 805 s ocean blvd, myrtle beach, sc 29582
FAQs
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
