Four-Story Motel with Ocean Boulevard
For Sale
$1,100,000
Pending
401 N Ocean Blvd, Myrtle Beach, SC 29577
Established lodging property with guest rooms, lobby operations, and manager’s quarters in a masonry building.
Property Size4,896 SF
Days on Market61
Property Features for 401 N Ocean Blvd
General Information
Standard status
Pending
Size
4,896 SF
Property Condition
Severity
Repairs Needed
Evidence
may benefit from repair
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,660
Building Details
Buildings
1
Stories
4
Construction
masonry
Listing Agency:
Sands Realty, LLC
(843) 692-5252
Listed By:
Amit Patel
(843) 446-1212
Source:
Exprealty
Added: Aug 31
Changed: Oct 25
Last Checked: Oct 28 at 3:21PM
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 Sands Realty, LLC
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Investment Insights
Based on property information with market context.
This four-story motel contains 4,896 square feet and is constructed with masonry walls, a stucco exterior, and a flat roof. Guest accommodations are arranged along covered exterior corridors, with stairwells serving the upper levels. Room finishes include keyless entry systems, insulated fixed windows, luxury vinyl plank flooring, painted drywall, and drywall ceilings.
The first floor supports daily operations with a front desk, reception area, lobby, office, and connected manager’s quarters. The property fronts Ocean Boulevard, and guest rooms are oriented toward the boulevard. Existing improvements show wear associated with an established coastal lodging property, with certain areas identified for repair, maintenance, and capital improvements. Continued operation, renovation, or repositioning would remain subject to the purchaser’s plans and applicable governmental approvals.
The first floor supports daily operations with a front desk, reception area, lobby, office, and connected manager’s quarters. The property fronts Ocean Boulevard, and guest rooms are oriented toward the boulevard. Existing improvements show wear associated with an established coastal lodging property, with certain areas identified for repair, maintenance, and capital improvements. Continued operation, renovation, or repositioning would remain subject to the purchaser’s plans and applicable governmental approvals.
Key Highlights
- Four‑story motel with 4,896 square feet of improvements
- 15‑unit motel configuration with guest rooms oriented toward Ocean Boulevard
- Masonry construction with stucco exterior and flat roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,396
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,920
$627.9K
Cap Rate 7%
$448,514
$448.5K
Cap Rate 9%
$348,844
$348.8K
Market Conditions
NOI Build-Up for 4,896 SF
Gross rent
$73.4K $15.00/SF
− Vacancy
−$7.3K −$1.50/SF
EGI
$66.1K $13.50/SF
− OpEx
−$34.7K −$7.09/SF
NOI
$31.4K $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 Rate 5%
$627,920
Cap Rate 7%
$448,514
Cap Rate 9%
$348,844
Alternative Uses
Best Use
Hotel Hospitality
$448.5K
$392.5K – $523.3K
NOI $31,396 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,859 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,220
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Captain's Quarters Resort — 901 S Ocean Blvd, Myrtle Beach, SC 29577
- Polynesian Ocean Front Hotel — 1001 S Ocean Blvd, Myrtle Beach, SC 29577
- Ocean Plaza Motel — 1005 S Ocean Blvd, Myrtle Beach, SC 29577
- Water Park Hotel — 1106 S Ocean Blvd, Myrtle Beach, SC 29577
- Ocean Inn — 805 s ocean blvd, myrtle beach, sc 29582
Frequently Asked Questions
What type of property is this?
Motel - Established lodging property with guest rooms, lobby operations, and manager’s quarters in a masonry building.
Where is this motel located?
The property is located at 401 N Ocean Blvd Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑story motel with 4,896 square feet of improvements; 15‑unit motel configuration with guest rooms oriented toward Ocean Boulevard; Masonry construction with stucco exterior and flat roof
