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    5400 Ocean Blvd Myrtle Beach, SC 29577

    Sponsored
    For Sale
    $6,490,000

    Prime Location, Newly Renovated

    Property size:
    28,551 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Mermaid Inn, a newly renovated oceanfront boutique hotel in Myrtle Beach, SC, presents a rare investment opportunity. This 57-key, 28,551 square foot property sits on a prime 1-acre oceanfront lot at 5400 N Ocean Blvd, 29577. Completely renovated in 2023, the three-story building boasts 102 beds and offers elegantly designed rooms, a pool deck, vending machines, and guest laundry facilities. Its location provides tranquil surroundings while remaining close to attractions and the airport. Currently operating and generating steady cash flow under third-party management, this stabilized investment offers immediate use or redevelopment potential due to its size and prime location. The property features unobstructed ocean views and represents a chance to own a piece of Myrtle Beach's coastline. Asking price is $6,490,000 ($227.31/sq ft). Built in 1971, the property's APN is 42115030095.

    Property Features for 5400 Ocean Blvd

    General Information

    Property type
    Hotels
    Square Feet
    28,551 SF
    Lot Size
    43,560 SF

    Building Details

    Year Built/Renovated
    1971/2023
    Buildings
    1
    Stories
    3

    HighLights

    • $6,490,000 asking price for a stabilized hospitality investment.
    • Oceanfront Myrtle Beach hotel with 57 keys and 102 beds.
    • 28,551 square feet on a 1‑acre lot, recently renovated in 2023.
    • Three‑story building, offering both operational income and redevelopment potential.
    • Prime location near attractions and Myrtle Beach Airport, with amenities including a pool deck and guest laundry.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mermaid Inn Hotel Cherry Tree Inn Hotel

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.838804682098
    Latitude
    33.726062156713

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    FAQs

    What type of property is this?
    Hotel - Prime Location, Newly Renovated
    Where is this hotel located?
    The property is located at 5400 Ocean Blvd Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $6,490,000.
    What are key features of this property?
    This property features: $6,490,000 asking price for a stabilized hospitality investment.; Oceanfront Myrtle Beach hotel with 57 keys and 102 beds.; 28,551 square feet on a 1-acre lot, recently renovated in 2023.
    Request Owner's contact information
    5400 Ocean Blvd Myrtle Beach, SC 29577
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    Realmo Value Estimation

    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.

    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.

    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
    5400 Ocean Blvd Myrtle Beach, SC 29577
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