Oceanfront Motel with
606 N Ocean Blvd. Unit 301 7th Ave N Myrtle Beach, SC 29577
New
606 N Ocean Blvd. Unit 301 7th Ave N, Myrtle Beach, SC, 29577
$7,500,000
For Sale
$7,500,000
Oceanfront 54-unit motel with street-level restaurant space, plus a separate 301 7th Ave N parking parcel.
Property Size24,000 SF
Lot Size0.80 Acres
Price / SF$312.50
Days on Market7
Property Features for 606 N Ocean Blvd. Unit 301 7th Ave N
General Information
- Standard status
- Active
- Size
- 24,000 SF
- Lot size
- 0.80 Acres
- Property subtype
- Commercial
Listing agency
Realty ONE Group Dockside
(888) 874-2121
Listed by
Liat Edri () · License #59354
Source
C21theharrelsongroup
Added: Jul 16 Updated: Jul 21 at 10:31PM Checked: Jul 21 at 10:31PM
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
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
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $541.4k | $22.56 |
| − Vacancy | −$13.5k | −$0.56 |
| EGI | $527.9k | $22.00 |
| − OpEx | −$132.0k | −$5.50 |
| NOI | $395.9k | $16.50 |
24,000 SF · lease $22.56/SF/yr · vacancy 2.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$5.66M
$4.95M – $6.60M
NOI $395,928 @ 7.0% cap · market cap 5.28%
Second Best
Hotel Hospitality
$2.20M
$1.92M – $2.57M
NOI $153,900 @ 7.0% cap · market cap 2.05%
Theoretical Best
Office A
$6.08M
$5.32M – $7.10M
NOI $425,779 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Motels
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Similar Off Market Nearby
- Surfside Beach Oceanfront Hotel — 15 Ocean Blvd S, Surfside Beach, SC 29575
- Sealoft — 10 N Oak Dr, Myrtle Beach, SC 29575
- Country club villas — Surfside Beach, SC 29575
- Summer Sands Hotel — 15 ocean blvd s, surfside beach, sc 29575
- Kingston Plantation, Myrtle Beach, SC — 621 3rd Ave S, Surfside Beach, SC 29575, United States
FAQs
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
