Oceanfront Hotel in North Myrtle
For Sale
$4,720,000
1415 S Ocean Blvd., North Myrtle Beach, SC 29582
50-unit oceanfront hotel with direct beach access.
Property Size21,693 SF
Price / SF$217.58
Days on Market95
Property Features for 1415 S Ocean Blvd.
General Information
Standard status
Active
Size
21,693 SF
Property subtype
Commercial
Listing Agency:
RE/MAX Southern Shores
(888) 874-2121
Listed By:
Richard Singleton (Cell · License #26622
Source:
C21theharrelsongroup
Added: May 27
Changed: Aug 26
Last Checked: Aug 29 at 10:13AM
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 RE/MAX Southern Shores
Investment Insights
Based on property information with market context.
The Oasis Hotel, located at 1415 S Ocean Blvd in North Myrtle Beach, presents an oceanfront investment opportunity. This five-story property features 50 units, each offering ocean views. The units are efficiency style with adjoining rooms. The property provides direct beach access, an oceanfront event space, a pool, and a deck. Its location on South Ocean Boulevard places it near retail, dining, and entertainment venues. The hotel is situated minutes from major roadways and area attractions. The property size is 21693 square feet.
Key Highlights
- Direct oceanfront location on South Ocean Boulevard with stunning ocean views from every room
- 50‑unit hotel with efficiency units and all adjoining rooms
- Expansive oceanfront event space, pool, and deck with direct beach access**
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
$139,106
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
2.95%
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%
$2,782,120
$2.8M
Cap Rate 7%
$1,987,229
$2.0M
Cap Rate 9%
$1,545,622
$1.5M
Market Conditions
NOI Build-Up for 21,693 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
$325.4K $15.00/SF
− Vacancy
−$32.5K −$1.50/SF
EGI
$292.9K $13.50/SF
− OpEx
−$153.7K −$7.09/SF
NOI
$139.1K $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%
$2,782,120
Cap Rate 7%
$1,987,229
Cap Rate 9%
$1,545,622
Alternative Uses
Best Use
Hotel Hospitality
$1.99M
$1.74M – $2.32M
NOI $139,106 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.50M
$4.81M – $6.41M
NOI $384,851 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - 50-unit oceanfront hotel with direct beach access.
Where is this hotel located?
The property is located at 1415 S Ocean Blvd. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $4,720,000.
What are key features of this property?
This property features: Direct oceanfront location on South Ocean Boulevard with **stunning ocean views from every room**; 50‑unit hotel with efficiency units and all adjoining rooms; Expansive oceanfront event space, pool, and deck with direct beach access**
