Lake Shore Motel Redevelopment
For Sale
Contact for pricing
1443 Highway 17, Little River, SC 29566
As-is sale includes a closed Lake Shore motel and an owner-occupied single-family home on Highway 17.
Property Size7,486 SF
Lot Size1.65 Acres
Price / SF$200.37
Days on Market50
Property Features for 1443 Highway 17
General Information
Standard status
Active
Size
7,486 SF
Lot size
1.65 Acres
Property subtype
Hospitality
Zoning
HC (Highway Commercial)
Investment Type
Redevelopment
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Stories
1
Units
21
Listing Agency:
NAI | The Litchfield Company
Listed By:
Max Jones · License #SC 90439
(843) 979-6754
Source:
Crexi
Added: Jul 21
Changed: Sep 6
Last Checked: Sep 7 at 1:09PM
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 NAI | The Litchfield Company
Investment Insights
Based on property information with market context.
This property is approximately 1.65 acres and includes the Lake Shore motel, which has been closed for a couple of years, along with an existing single-family home currently occupied by the owners. The property is being sold as-is.
The site is located on Highway 17 and is zoned HC (Highway Commercial). While this zoning district is no longer used in Horry County, the property is grandfathered in, which allows for many uses and supports redevelopment planning.
The site is located on Highway 17 and is zoned HC (Highway Commercial). While this zoning district is no longer used in Horry County, the property is grandfathered in, which allows for many uses and supports redevelopment planning.
Key Highlights
- Approximately 1.65‑acre property on Hwy 17 in HC (Highway Commercial) zoning
- Includes the Lake Shore motel, which has been closed for a couple of years
- Includes an existing single‑family home currently occupied by the owners
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
$48,004
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
3.20%
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%
$960,080
$960.1K
Cap Rate 7%
$685,771
$685.8K
Cap Rate 9%
$533,378
$533.4K
Market Conditions
NOI Build-Up for 7,486 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
$112.3K $15.00/SF
− Vacancy
−$11.2K −$1.50/SF
EGI
$101.1K $13.50/SF
− OpEx
−$53.1K −$7.09/SF
NOI
$48.0K $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%
$960,080
Cap Rate 7%
$685,771
Cap Rate 9%
$533,378
Alternative Uses
Best Use
Hotel Hospitality
$685.8K
$600.1K – $800.1K
NOI $48,004 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,808 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29566, SC
21,792
Population
13,437
Households
1.6
Avg Household Size
58
Median Age
25%
College-Educated
92%
High-School Grad
32.4 sq mi
ZIP Area
673
Density / Sq Mi
$63,358
Median Household Income
$36,579
Median Earnings
$1,488
Median Rent
$275,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Motel - As-is sale includes a closed Lake Shore motel and an owner-occupied single-family home on Highway 17.
Where is this motel located?
The property is located at 1443 Highway 17 Little River, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 1.65‑acre property on Hwy 17 in HC (Highway Commercial) zoning; Includes the Lake Shore motel, which has been closed for a couple of years; Includes an existing single‑family home currently occupied by the owners
