Oceanfront 50-Unit
For Sale
$4,720,000
1415 S Ocean Blvd., North Myrtle Beach, SC 29582
COMMERCIAL - North Myrtle Beach, SC
Property Size21,693 SF
Lot Size0.57 Acres
Price / SF$217.58
Days on Market86
Property Features for 1415 S Ocean Blvd.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-4
Exterior features
Elevator-Passenger, Fixtures/Furniture, Office(s), Reception Area, Restrooms - Private, Sign
Accessibility
Accessible Elevator Installed
Subdivision
11C North Myrtle Beach Area--Crescent Beach
Standard status
Active
Size
21,693 SF
Lot size
0.57 Acres
Amenities
oceanfront event space
pool
deck
direct beach access
Building Details
Floors in Building
5
Number of units
50
Listing Agency:
RE/MAX Southern Shores · RE/MAX International
(843) 839-0200
Listed By:
Richard Singleton · License #26622
(843) 267-3585
Added: May 20
Changed: Aug 13
Last Checked: Aug 13 at 10:06AM
MLS# 2613023
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.
The Oasis Hotel is a five-story, 50-unit oceanfront property totaling 21,693 square feet on 0.57 acres. Guest accommodations are configured as efficiency units with adjoining rooms, and each room has ocean views. The improvements include a passenger elevator, reception area, private restrooms, office space, signage, and furnishings and fixtures. An accessible elevator is installed.
Located at 1415 S Ocean Blvd. in North Myrtle Beach, the hotel provides direct beach access along with an oceanfront event space, pool, and deck. The property is positioned near retail, dining, and entertainment venues, with major roadways and area attractions described as minutes away. Zoning is R-4.
Located at 1415 S Ocean Blvd. in North Myrtle Beach, the hotel provides direct beach access along with an oceanfront event space, pool, and deck. The property is positioned near retail, dining, and entertainment venues, with major roadways and area attractions described as minutes away. Zoning is R-4.
Key Highlights
- Oceanfront hotel with 50 units across five stories
- 21,693 square feet on 0.57 acres
- Direct beach access with oceanfront event space, pool, and deck
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 - Five-story lodging property with direct beach access, a pool, event space, and furnished efficiency units.
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: Oceanfront hotel with 50 units across five stories; 21,693 square feet on 0.57 acres; Direct beach access with oceanfront event space, pool, and deck
