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    509 Ocean Blvd Myrtle Beach, SC 29577

    Sponsored
    For Sale
    $2,640,000

    Prime location, 24-unit hotel, turnkey operation.

    Property size:
    8,592 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 24-unit hotel, located at 509 Ocean Blvd. N in Myrtle Beach, South Carolina, presents a lucrative investment opportunity. Boasting 8,592 square feet on a 0.22-acre lot (APN 44408010201), this four-story property underwent a complete renovation in 2024, resulting in a brand-new, turnkey operation. All aspects of the hotel are new, including electrical rewiring, plumbing, HVAC units, roof, flooring, bathrooms, furniture, blinds, appliances, TVs, exterior and interior paint, signage, lobby, and parking. The pool and common areas were also completely redone in 2024. The hotel features a modern design and decor, custom showers, and a commercial laundry facility on-site. Multiple storage areas add to the property's functionality. Opened for business in April 2024, this hotel is conveniently situated within walking distance of the Sky Wheel and directly across from the beach, benefiting from its prime oceanfront location. The property is zoned MU-H. An adjacent property with an additional 39 units is optionally available for purchase. This turnkey operation offers immediate income potential and significant upside. The asking price is $2,640,000, translating to $528 per square foot. The estimated road frontage is 158 feet.

    Property Features for 509 Ocean Blvd

    General Information

    Property type
    Motels
    Square Feet
    8,592 SF
    Lot Size
    9,583 SF

    Building Details

    Stories
    4
    Units
    24

    HighLights

    • 158 feet of estimated road frontage.
    • Full‑service listing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    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
    -78.883251602042
    Latitude
    33.688418283195

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    FAQs

    What type of property is this?
    Motel - Prime location, 24-unit hotel, turnkey operation.
    Where is this motel located?
    The property is located at 509 Ocean Blvd Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $2,640,000.
    What are key features of this property?
    This property features: 158 feet of estimated road frontage.; Full-service listing.;
    Request Owner's contact information
    509 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
    509 Ocean Blvd Myrtle Beach, SC 29577
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