Historic 27-Room
For Sale
$2,480,000
7501 N Ocean Blvd., Myrtle Beach, SC 29572
COMMERCIAL/INDUSTRIAL, Myrtle Beach, SC
Property Size13,310 SF
Lot Size0.57 Acres
Price / SF$186.33
Days on Market313
Property Features for 7501 N Ocean Blvd.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU-H
Exterior features
220-Volt Power, Fixtures/Furniture, Inside Storage, Living Quarters, Office(s), Reception Area, Sign, Sprinkler System
Subdivision
16D Myrtle Beach Area--48th Ave N to 79th Ave N
Standard status
Active
Size
13,310 SF
Lot size
0.57 Acres
Amenities
swimming pool
covered cabana
deck furniture
Building Details
Floors in Building
2
Number of units
25
Additional Structures
Storage
Listing Agency:
RE/MAX Southern Shores · RE/MAX International
(843) 839-0200
Listed By:
Richard Singleton · License #26622
(843) 267-3585
Added: Oct 13, 2025
Changed: Aug 19
Last Checked: Aug 21 at 10:06PM
MLS# 2524931
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 13,310-square-foot motel occupies 0.57 acres and includes 24 guest rooms, a three-bedroom cottage, and an owners suite, totaling 27 rooms. The property is listed on the National Register of Historic Places and has undergone remodeling, redecoration, and refurbishment. Interior features include living quarters, offices, a reception area, and inside storage, while included FF&E, fixtures, and furniture support continued operation.
The second-row property is located at 7501 N Ocean Blvd. in Myrtle Beach, near the beach and North Strand dining and entertainment. Outdoor amenities include a courtyard with palm trees, a large swimming pool, a covered cabana, and deck furniture. MU-H zoning applies, and the property is required to remain a motel.
The second-row property is located at 7501 N Ocean Blvd. in Myrtle Beach, near the beach and North Strand dining and entertainment. Outdoor amenities include a courtyard with palm trees, a large swimming pool, a covered cabana, and deck furniture. MU-H zoning applies, and the property is required to remain a motel.
Key Highlights
- 27 total rooms comprising 24 rooms, a 3‑bedroom cottage, and an owners suite
- 13,310 square feet on 0.57 acres
- Listed on the National Register of Historic Places
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
$85,350
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
3.44%
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%
$1,707,000
$1.7M
Cap Rate 7%
$1,219,286
$1.2M
Cap Rate 9%
$948,333
$948.3K
Market Conditions
NOI Build-Up for 13,310 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
$199.7K $15.00/SF
− Vacancy
−$20.0K −$1.50/SF
EGI
$179.7K $13.50/SF
− OpEx
−$94.3K −$7.09/SF
NOI
$85.4K $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%
$1,707,000
Cap Rate 7%
$1,219,286
Cap Rate 9%
$948,333
Alternative Uses
Best Use
Hotel Hospitality
$1.22M
$1.07M – $1.42M
NOI $85,350 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.37M
$2.95M – $3.94M
NOI $236,130 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29572, SC
10,711
Population
14,313
Households
0.7
Avg Household Size
57
Median Age
43%
College-Educated
95%
High-School Grad
8.9 sq mi
ZIP Area
1,203
Density / Sq Mi
$75,388
Median Household Income
$36,121
Median Earnings
$1,148
Median Rent
$385,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Motel - Remodeled lodging property with a pool, courtyard, and furnished cabana.
Where is this motel located?
The property is located at 7501 N Ocean Blvd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $2,480,000.
What are key features of this property?
This property features: 27 total rooms comprising 24 rooms, a 3‑bedroom cottage, and an owners suite; 13,310 square feet on 0.57 acres; Listed on the National Register of Historic Places
