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    606 N Ocean Blvd. Myrtle Beach, SC 29577

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    For Sale
    $7,500,000

    Hospitality - Myrtle Beach, SC

    Property size:
    23,336 SF
    Lot size:
    0.80 Acres
    Price / SF:
    $321/SF
    Added:
    Apr 29, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 30 at 5:06 pm

    Property Features for 606 N Ocean Blvd.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    MU-H Mixed
    Exterior features
    Elevator-Passenger, Fixtures/Furniture, Reception Area, Kitchen Facility, Restrooms - Public, Restrooms - Private, Display Windows, Sign, 220-Volt Power, 440-Volt Power, Inside Storage
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    Size
    23,336 SF
    Lot size
    0.80 Acres

    Building Details

    Floors in Building
    3
    Number of units
    54
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Liat Edri
    Liat Edri

    Listing agent Liat Edri

    Listing office Realty ONE Group Dockside 2305 N. Oak St, Myrtle Beach, SC

    Listing date Apr 29, 2026

    MLS# 2611121 Listing URL

    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.

    Overview

    Oceanfront Hospitality Property with Restaurant

    Located on Ocean Boulevard in Myrtle Beach, this oceanfront property features a 54-unit building and a commercial restaurant space that was renovated in 2025. The property includes an additional parcel used for parking. Situated in Myrtle Beach’s entertainment district, the location benefits from strong walk-in traffic along the Grand Strand’s tourism corridor. The property is zoned MU-H (Mixed Use High Density) for the main parcel and Downtown Redevelopment. It is also located in the DRC, Downtown Redevelopment Corridor, and is zoned TA-80 (Transient Accommodations) within a floating zoning area and an Opportunity Zone updated in 2018. The property has potential for operational optimization or redevelopment. The new Hwy 501 East Connector will end at the Diplomat Motel Oceanfront. Exterior amenities include a pool. The Boardwalk, opened in the summer of 2010, provides 200' of hotel frontage directly in front of the hotel for its guests, along with two beach accesses. A pizzeria with a diverse cuisine is located on the property. Nearby attractions include Ripley's Believe It Or Not, Myrtle Beach Sky-wheel and Sling Shot, The Gay Dolphin gift shop, The Bowery, and I LOVE SUGAR candy store.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Similar Places Nearby

    • Myrtle Beach Weather & Hotels — 350 8th ave s, myrtle beach, sc 29577
    • Bob — 860 S Ocean Blvd, Myrtle Beach, SC 29577
    • Dayton house — 407 9th ave s, myrtle beach, sc 29577
    • Blue Marlin — 904 Yaupon Dr, Myrtle Beach, SC 29577
    • Myrtle Beach Vacation Rentals - Surfside & North Condos, Resorts, & Houses — 350 8th Ave S, Myrtle Beach, SC 29577

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8822115
    Latitude
    33.6891779

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    FAQs

    What type of property is this?
    Motel - Oceanfront 54-unit building with commercial restaurant space and parking.
    Where is this motel located?
    The property is located at 606 N Ocean Blvd. Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $7,500,000.
    (843) 222-6357
    We can help!
    Listing Contact
    Liat Edri
    Liat Edri
    Real Estate License ID: 59354
    Learn More
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    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
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