Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    5601 N Ocean Blvd, Unit C-214 Myrtle Beach, SC 29577

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $330,000

    Updated 2BR/2BA condo with ocean view in Myrtle Beach.

    Property Features for 5601 N Ocean Blvd

    General Information

    Exterior features
    exterior_features, : ["Deck", "Pool", "High Speed Internet Available", "Trash Collection"]
    Interior features
    Interior Feature 1, : "Security System", "Interior Feature 2": "Central Air", "Interior Feature 3": "Central", "Interior Feature 4": "Dishwasher", "Interior Feature 5": "Microwave", "Interior Feature 6": "Refrigerator"

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    ERA Real Estate Modo
    Source: Kw

    Listing Agent: ERA Real Estate Modo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Updated Condo with Ocean View

    Located in the Cabana Section of Myrtle Beach, this updated condo at Ocean Forest Villas features two bedrooms and two bathrooms. The unit is fully furnished and equipped with central HVAC. The modern kitchen includes stainless steel appliances, granite countertops, upgraded cabinets, and a breakfast bar. Residents can enjoy ocean views from the balcony and master bedroom. The property is located near one of the two community pools, situated between the C and D buildings, with a hot tub located behind the C building. This condo is suitable for use as a primary residence, second home, or investment property.
    Location Intelligence

    Current Use by Public Records

    Ocean Forest Villas Hotel Myrtle Beach Vacation ... Vacation Home Rental Agency Sands Resorts Corporate Corporate Campus BeachConnection Realty Real Estate Agency Amanda Upright Realtor Real Estate Agents

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8348085
    Latitude
    33.7290593

    Nearby Similar for Sale

    • New
      $2,797,000

      Golden Mile Triplex Investment Opportunity

      Spacious triplex in Myrtle Beach's Golden Mile, steps from the beach.
      213 76Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $4,360,000

      Oceanfront Investment Opportunity in Myrtle Beach

      Premier oceanfront property with direct beach access and modern amenities.
      2711 S Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $1,625,000

      Myrtle Beach Apartments Near Ocean

      High-density rental property near the ocean in Myrtle Beach.
      203 76Th Ave N, Myrtle Beach, SC 29572
      View Details
    • $3,990,000
      17,372 SF

      Myrtle Beach Hospitality Opportunity

      Turnkey hospitality property near the ocean and Sky Wheel.
      300 10Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $795,000
      2,670 SF

      Established Car Wash on High-Traffic Road

      Operating car wash with equipment on a high-traffic commercial corner.
      4710 Socastee Blvd, Myrtle Beach, SC 29588
      View Details
    • $3,990,000

      Myrtle Beach Renovated Corner Property

      Prime location near the ocean with fully renovated units.
      300 10Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $520,000
      2,574 SF

      Broadway Street Commercial Building

      Fully equipped commercial kitchen and modern bar in Myrtle Beach.
      403 Broadway St, Myrtle Beach, SC 29577
      View Details
    • $807,000
      Pending

      Myrtle Beach Multifamily Investment

      10-unit apartment building, two blocks from the ocean.
      311 3Rd Ave N, Myrtle Beach, SC 29577
      View Details
    • New
      $649,900

      Myrtle Beach Triplex Near Ocean

      Income-producing triplex, 1000 feet from the beach!
      404 13Th Ave S, Myrtle Beach, SC 29577
      View Details
    • $299,000

      Myrtle Beach Triplex Investment Opportunity

      Triplex with three rental units near Myrtle Beach.
      4300 Summitt Trl, Myrtle Beach, SC 29579
      View Details
    • $1,499,000

      Myrtle Beach Income Property Portfolio

      Two income-producing properties in Myrtle Beach with strong rental history.
      818 Bay St, Myrtle Beach, SC 29577
      View Details
    • $730,000
      Pending

      Myrtle Beach Multifamily Investment Opportunity

      Income-producing 6-unit apartment building near the beach.
      610 63Rd Ave N, Myrtle Beach, SC 29572
      View Details

    FAQs

    What type of property is this?
    Short term rental property - Updated 2BR/2BA condo with ocean view in Myrtle Beach.
    Where is this short term rental property located?
    The property is located at 5601 N Ocean Blvd, Unit C-214 Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: - Ocean view from balcony and master bedroom; - Fully furnished, updated 2 bedroom, 2 bathroom condo; - Modern kitchen with stainless steel appliances, granite countertops, and upgraded cabinets
    Request Owner's contact information
    5601 N Ocean Blvd, Unit C-214 Myrtle Beach, SC 29577
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5601 N Ocean Blvd, Unit C-214
    Myrtle Beach, SC 29577
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5601 N Ocean Blvd, Unit C-214 Myrtle Beach, SC 29577
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    ERA Real Estate Modo
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.