60-Door Concrete-and-Steel
For Sale
$4,550,000
806 S Ocean Blvd., Myrtle Beach, SC 29577
COMMERCIAL - Myrtle Beach, SC
Property Size22,442 SF
Lot Size0.83 Acres
Price / SF$202.74
Days on Market54
Property Features for 806 S Ocean Blvd.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
comm
Exterior features
Fixtures/Furniture, Inside Storage, Living Quarters, Machinery Included, Office(s), Reception Area, Sign
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
22,442 SF
Lot size
0.83 Acres
Amenities
outdoor in-ground pool
lobby
commercial laundry facility
storage areas
Building Details
Floors in Building
3
Number of units
60
Additional Structures
Storage
Listing Agency:
Realty ONE Group Dockside
(843) 492-4030
Listed By:
Liat Edri · License #59354
(843) 222-6357
Added: Jun 21
Changed: Aug 13
Last Checked: Aug 13 at 8:06AM
MLS# 2615752
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 60-door hotel occupies a 22,442-square-foot concrete-and-steel building on a 0.83-acre corner parcel. The property includes a lobby, outdoor in-ground pool, commercial laundry facility, storage areas, offices, reception space, living quarters, furniture, fixtures, machinery, and signage. A new roof was installed in 2026, and the sale includes the listed furniture, fixtures, and equipment. Current licenses and permits are in effect.
The hotel is positioned at the intersection of South Ocean Boulevard and 9th Avenue South in Myrtle Beach, directly across from beach access. The property offers ocean views and on-site parking, with the Myrtle Beach Boardwalk, Myrtle Beach SkyWheel, Second Avenue Pier, and Family Kingdom Amusement Park within walking distance. Shopping, dining, and entertainment options are also identified nearby.
The hotel is positioned at the intersection of South Ocean Boulevard and 9th Avenue South in Myrtle Beach, directly across from beach access. The property offers ocean views and on-site parking, with the Myrtle Beach Boardwalk, Myrtle Beach SkyWheel, Second Avenue Pier, and Family Kingdom Amusement Park within walking distance. Shopping, dining, and entertainment options are also identified nearby.
Key Highlights
- 60‑door hotel on a 0.83‑acre corner lot
- 22,442‑square‑foot concrete‑and‑steel building
- New roof installed in 2026
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
$143,909
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
3.16%
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%
$2,878,180
$2.9M
Cap Rate 7%
$2,055,843
$2.1M
Cap Rate 9%
$1,598,989
$1.6M
Market Conditions
NOI Build-Up for 22,442 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
$336.6K $15.00/SF
− Vacancy
−$33.7K −$1.50/SF
EGI
$303.0K $13.50/SF
− OpEx
−$159.1K −$7.09/SF
NOI
$143.9K $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%
$2,878,180
Cap Rate 7%
$2,055,843
Cap Rate 9%
$1,598,989
Alternative Uses
Best Use
Hotel Hospitality
$2.06M
$1.80M – $2.40M
NOI $143,909 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.69M
$4.98M – $6.64M
NOI $398,139 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - Hospitality property with an outdoor pool, commercial laundry, on-site parking, and beach access directly across the boulevard.
Where is this hotel located?
The property is located at 806 S Ocean Blvd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $4,550,000.
What are key features of this property?
This property features: 60‑door hotel on a 0.83‑acre corner lot; 22,442‑square‑foot concrete‑and‑steel building; New roof installed in 2026
