Oceanfront Motel with
For Sale
$7,500,000
606 N Ocean Blvd. Unit 301 7th Ave N, Myrtle Beach, SC 29577
Oceanfront 54-unit motel with street-level restaurant space, plus a separate 301 7th Ave N parking parcel.
Property Size23,336 SF
Lot Size0.80 Acres
Price / SF$321.39
Days on Market99
Property Features for 606 N Ocean Blvd. Unit 301 7th Ave N
General Information
Standard status
Active
Size
23,336 SF
Lot size
0.80 Acres
Property subtype
Commercial
Zoning
MU-H Mixed
Additional Details
Opportunity Zone
Yes
Amenities
exterior pool
boardwalk frontage
beach access
Building Details
Year Renovated
2025
Stories
3
Listing Agency:
Realty ONE Group Dockside
(803) 818-5362
Listed By:
Liat Edri () · License #6170
(843) 444-4764
Source:
Homelandrealtygroup
Added: Jul 16
Changed: Oct 13
Last Checked: Oct 20 at 8:03PM
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 Realty ONE Group Dockside
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Diplomat is an oceanfront 54-unit motel property with a street-level commercial restaurant space that was redone in 2025. The site includes exterior amenities such as a pool and direct ocean frontage with two beach access points, one on the north side and one on the south side. A separate parcel at 301 7th Ave North provides additional parking to support operations.
The main property is located at 606 N Ocean Blvd on the boardwalk, within Myrtle Beach’s entertainment district. The offering is supported by its walk-up positioning along the Grand Strand tourism corridor.
The configuration provides mixed-use income potential with residential units combined with on-property food and beverage space, along with the convenience of an additional parking lot parcel.
The main property is located at 606 N Ocean Blvd on the boardwalk, within Myrtle Beach’s entertainment district. The offering is supported by its walk-up positioning along the Grand Strand tourism corridor.
The configuration provides mixed-use income potential with residential units combined with on-property food and beverage space, along with the convenience of an additional parking lot parcel.
Key Highlights
- Oceanfront The Diplomat: 54‑unit building on 606 N Ocean Blvd, Myrtle Beach, SC 29577
- Mixed‑use income: residential 54‑unit building plus street‑level commercial restaurant space
- 2025 redo of the street‑level commercial restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$384,974
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,699,480
$7.7M
Cap Rate 7%
$5,499,629
$5.5M
Cap Rate 9%
$4,277,489
$4.3M
Market Conditions
NOI Build-Up for 23,336 SF
Gross rent
$526.5K $22.56/SF
− Vacancy
−$13.2K −$0.56/SF
EGI
$513.3K $22.00/SF
− OpEx
−$128.3K −$5.50/SF
NOI
$385.0K $16.50/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,699,480
Cap Rate 7%
$5,499,629
Cap Rate 9%
$4,277,489
Alternative Uses
Best Use
Specialty Retail
$5.50M
$4.81M – $6.42M
NOI $384,974 @ 7.0% cap · market cap 5.13%
Second Best
Hotel Hospitality
$2.14M
$1.87M – $2.49M
NOI $149,642 @ 7.0% cap · market cap 2.00%
Theoretical Best
Office A
$5.91M
$5.17M – $6.90M
NOI $413,999 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
40k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 24%
Hotels & Casinos 2%
Circle K
Shops & Services
13,036 visits/mo
0.3 miles
Waffle House
Dining
5,077 visits/mo
0.4 miles
KFC
Dining
4,404 visits/mo
0.4 miles
Bank of America
Shops & Services
3,846 visits/mo
0.4 miles
TD Bank
Shops & Services
3,189 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Country club villas — Surfside Beach, SC 29575
- Summer Sands Hotel — 15 ocean blvd s, surfside beach, sc 29575
- Surfside Beach Oceanfront Hotel — 15 Ocean Blvd S, Surfside Beach, SC 29575
- Kingston Plantation, Myrtle Beach, SC — 621 3rd Ave S, Surfside Beach, SC 29575, United States
- Sealoft — 10 N Oak Dr, Myrtle Beach, SC 29575
Frequently Asked Questions
What type of property is this?
Motel - Oceanfront 54-unit motel with street-level restaurant space, plus a separate 301 7th Ave N parking parcel.
Where is this motel located?
The property is located at 606 N Ocean Blvd. Unit 301 7th Ave N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Oceanfront The Diplomat: 54‑unit building on 606 N Ocean Blvd, Myrtle Beach, SC 29577; Mixed‑use income: residential 54‑unit building plus street‑level commercial restaurant space; 2025 redo of the street‑level commercial restaurant
