Oceanfront Hotel in North Myrtle
For Sale
$4,720,000
1415 South Ocean Boulevard North Myrtle, North Myrtle Beach, SC 29582
50-unit oceanfront hotel with direct beach access.
Property Size21,693 SF
Price / SF$217.58
Days on Market157
Property Features for 1415 South Ocean Boulevard North Myrtle
General Information
Standard status
Active
Size
21,693 SF
Total Parking Spaces
36
Property subtype
Lodging and Hospitality
Zoning
R-4
Building Details
Building Size
21,693 SF
Listing Agency:
RE/MAX
Listed By:
Richard Singleton · License #26622
(843) 839-0200
Source:
Remaxcommercial
Added: May 27
Changed: Oct 25
Last Checked: Oct 30 at 10:26AM
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
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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 / Yr
$139,106
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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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 South Ocean Boulevard North Myrtle 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**
