Four-Story Motel with Ocean Boulevard
For Sale
$1,100,000
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
Price / SF$224.67
Days on Market10
Property Features for 401 N Ocean Blvd
General Information
Standard status
Active
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: Sep 8
Last Checked: Sep 8 at 2:36PM
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
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 = 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
$31,396
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
2.85%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
