Renovated Hotel with Retail
For Sale
$3,850,000
Pending
300 10th Ave. N, Myrtle Beach, SC 29577
Fully renovated in 2022, this hotel offers 32 operational units plus an attached commercial/retail space.
Property Size17,372 SF
Lot Size0.42 Acres
Days on Market55
Property Features for 300 10th Ave. N
General Information
Standard status
Pending
Size
17,372 SF
Lot size
0.42 Acres
Zoning
Commercial
Amenities
8370801975
Pending
Hotel/Motel
Hotel/Motel, Hospitality
1
no
Two
yes
2
Furnished
17372
Central Air
Central
Office, Pole Sign, Private Restrooms, Public Restrooms, Reception Area, Sign(s)
Public Sewer
Public Records
Living Quarters
32
Brick Veneer, Block
Building Details
Building Size
17,372 SF
Year Built
1955
Year Renovated
2022
Listing Agency:
Saltwater Grande Realty, LLC
Listed By:
Betty Robey · License #93122
(843) 315-3444
Source:
Saltwatergrande.idxbroker
Added: Jul 17
Changed: Sep 5
Last Checked: Sep 8 at 3:36AM
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 Saltwater Grande Realty, LLC
Investment Insights
Based on property information with market context.
This fully renovated hotel property was updated in 2022 and includes more than 20,000 square feet of renovated space. The building contains 32 fully operational units, including efficiencies, double rooms, and one-bedroom suites, along with a range of upgrades noted in the renovations such as a new roof, plumbing, electrical, HVAC, flooring, and appliances. In addition, the property includes approximately 3,000 square feet of commercial/retail space that can provide income through leasing.
Set on a corner lot in Myrtle Beach, the property is described as just steps from the ocean and within walking distance of the Boardwalk. It is also noted to be a short stroll from the SkyWheel and close to Broadway at the Beach, waterparks, shopping, dining, and entertainment.
The offering is presented as a turnkey building with financials available upon request.
Set on a corner lot in Myrtle Beach, the property is described as just steps from the ocean and within walking distance of the Boardwalk. It is also noted to be a short stroll from the SkyWheel and close to Broadway at the Beach, waterparks, shopping, dining, and entertainment.
The offering is presented as a turnkey building with financials available upon request.
Key Highlights
- Fully renovated in 2022 with upgrades including new roof, plumbing, electrical, HVAC, flooring, and appliances
- 32 fully operational units: efficiencies, double rooms, and one‑bedroom suites
- Includes a 3,000 SF attached commercial/retail space with income potential through leasing
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
$111,398
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
2.89%
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%
$2,227,960
$2.2M
Cap Rate 7%
$1,591,400
$1.6M
Cap Rate 9%
$1,237,756
$1.2M
Market Conditions
NOI Build-Up for 17,372 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
$260.6K $15.00/SF
− Vacancy
−$26.1K −$1.50/SF
EGI
$234.5K $13.50/SF
− OpEx
−$123.1K −$7.09/SF
NOI
$111.4K $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%
$2,227,960
Cap Rate 7%
$1,591,400
Cap Rate 9%
$1,237,756
Alternative Uses
Best Use
Hotel Hospitality
$1.59M
$1.39M – $1.86M
NOI $111,398 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.40M
$3.85M – $5.14M
NOI $308,193 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,568
Businesses Nearby
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?
Hotel - Fully renovated in 2022, this hotel offers 32 operational units plus an attached commercial/retail space.
Where is this hotel located?
The property is located at 300 10th Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Fully renovated in 2022 with upgrades including new roof, plumbing, electrical, HVAC, flooring, and appliances; 32 fully operational units: efficiencies, double rooms, and one‑bedroom suites; Includes a 3,000 SF attached commercial/retail space with income potential through leasing
