Four-Story Motel with Manager
New
For Sale
$1,100,000
401 Ocean Blvd. N, Myrtle Beach, SC 29577
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size4,896 SF
Lot Size0.19 Acres
Price / SF$224.67
Days on Market3
Property Features for 401 Ocean Blvd. N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU- H
Security features
Security System
Exterior features
Security System
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
4,896 SF
Lot size
0.19 Acres
Building Details
Floors in Building
4
Number of units
16
Listing Agency:
Sands Realty, LLC
(843) 692-5252
Listed By:
Amit Patel
(843) 446-1212
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 1 at 5:06PM
MLS# 2621561
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-story motel comprises 4,896 square feet on a 0.1928-acre parcel along Ocean Boulevard. The masonry building has a stucco exterior and flat roof, with guest accommodations reached through covered outdoor corridors and stairwells. Guest rooms include solid entry doors with keyless access, insulated fixed windows, luxury vinyl plank flooring, painted drywall, and drywall ceilings.
The ground floor is arranged for lodging operations, with a front desk, reception area, office, and lobby. A connected manager’s quarters sits beside the front desk, supporting on-site management. The property is zoned MU- H and includes a security system. Existing conditions reflect age and coastal exposure, with repair, maintenance, and capital improvement needs identified in portions of the building.
The ground floor is arranged for lodging operations, with a front desk, reception area, office, and lobby. A connected manager’s quarters sits beside the front desk, supporting on-site management. The property is zoned MU- H and includes a security system. Existing conditions reflect age and coastal exposure, with repair, maintenance, and capital improvement needs identified in portions of the building.
Key Highlights
- 4,896‑square‑foot motel on a 0.1928‑acre parcel
- Four‑story masonry building with stucco exterior and flat roof
- First‑floor front desk, reception area, office, and lobby
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
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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 lobby operations, covered exterior corridors, and guest rooms oriented toward Ocean Boulevard.
Where is this motel located?
The property is located at 401 Ocean Blvd. N 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: 4,896‑square‑foot motel on a 0.1928‑acre parcel; Four‑story masonry building with stucco exterior and flat roof; First‑floor front desk, reception area, office, and lobby
