35-Unit Motel with
For Sale
$2,300,000
101 Flagg St., Myrtle Beach, SC 29577
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size23,000 SF
Lot Size0.47 Acres
Price / SF$100
Days on Market63
Property Features for 101 Flagg St.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Exterior features
Fixtures/Furniture, Kitchen Facility, Living Quarters, Office(s), Reception Area, Restrooms - Private
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
23,000 SF
Lot size
0.47 Acres
Amenities
swimming pool
Building Details
Floors in Building
2
Number of units
35
Listing Agency:
Century 21 Stopper &Associates · Century 21 Real Estate
(843) 685-2751
Listed By:
Robyn Ashleigh Davis
(727) 481-8077
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 30 at 3:06PM
MLS# 2616352
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.
This commercial motel property includes 35 furnished units within a 23,000-square-foot complex on 0.47 acres. The unit mix includes one-, two-, and three-room layouts along with efficiency units. Improvements include a swimming pool, reception area, private restrooms, kitchen facilities, fixtures and furniture, and office space. A livable office condo and apartment are also included for property operations or on-site management. The property is zoned Commercial.
The motel occupies a third-row position in Myrtle Beach, with ocean views from every building. It is across from the 2nd Ave Pier and near Family Kingdom Amusement Park and the boardwalk. The sale includes all property improvements and furnishings.
The motel occupies a third-row position in Myrtle Beach, with ocean views from every building. It is across from the 2nd Ave Pier and near Family Kingdom Amusement Park and the boardwalk. The sale includes all property improvements and furnishings.
Key Highlights
- 35‑unit motel on 0.47 acres
- 23,000 square feet of property improvements
- Furnished one-, two-, three‑room, and efficiency units
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
$147,488
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
6.41%
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%
$2,949,760
$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
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
$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 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%
$2,949,760
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.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Motel - Furnished accommodations include an on-site pool and living quarters for an owner or manager.
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 on 0.47 acres; 23,000 square feet of property improvements; Furnished one-, two-, three‑room, and efficiency units
