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    1000 Ocean Blvd Myrtle Beach, SC 29577
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    Property profile & analytics

    1000 Ocean Blvd, Myrtle Beach, SC 29577

    View on Map
    • Hotels
    • 4,243 SF
    • 0.01 lot acres
    Off-Market
    Last Sale Jun 10, 2022
    $695,888
    Property ID
    US77-2045355
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $870,000
    Show details
    Cap Rate Potential
    2.8%
    Hotels
    Location Intelligence

    Current Use by Public Records

    • Plyler Park / Park / Tourist Attraction

    Property Details for 1000 Ocean Blvd

    Year built
    1960
    Construction
    CONCRETE
    Lot size
    0.01 lot acres
    Zone code
    TA1
    Property type
    Hotels
    Property subtype
    Motels
    APN
    443-11-03-0064
    APU
    44311030064

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 10, 2022 $695,888 Polynesian Beach & Golf LLC Captains Quarters Motor Inn INC Warranty Deed —
    Feb 7, 2022 $1,150,000 Captains Quarters Motor Inn INC Brd Myrtle Beach LLC Warranty Deed —
    Mar 30, 2021 $3,021,000 Brd Myrtle Beach LLC South Seas INC Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $980,000
      ML approach
      $1,130,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $855,000
      Market price range: $175k - $855k

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $965,000
      Current use
      MEDICAL BUILDING
      $1,280,000
      Change: +33% Conversion: Difficult
      OFFICE BUILDING
      $1,035,000
      Change: +7% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8973
    Latitude
    33.6775
    CBSA code
    34820
    CBSA name
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $25,819
    $37,786
    $3,967
    $41,753
    -
    $1,310,520
    $221,100
    $1,531,620

    Comparable in this City

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      5,620 SF

      608 Chester St

      HOTEL/MOTEL
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    • Value Estimation by Request
      1,512 SF

      Chester St

      HOTEL/MOTEL
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    • Value Estimation
      $2,325,000
      27,594 SF

      16th S Ave

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    • Value Estimation by Request
      4,580 SF

      407 8th N Ave

      HOTEL/MOTEL
      407 8th N Ave, Myrtle Beach, SC 29577-3712
      View Details
    • Value Estimation
      $2,425,000
      25,011 SF

      2010 Ocean Blvd

      HOTEL/MOTEL
      2010 Ocean Blvd, Myrtle Beach, SC 29577-4638
      View Details
    • Value Estimation
      $950,000
      4,950 SF

      1702 Ocean Blvd

      HOTEL/MOTEL
      1702 Ocean Blvd, Myrtle Beach, SC 29577-4632
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,617 SF

      Newly Renovated Myrtle Beach Hotel

      63-room hotel across from the Atlantic Ocean beaches.
      507 Ocean Blvd N, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing

      Oceanfront Hotel in Myrtle Beach

      40-room hotel with renovated rooms and kitchenettes.
      2711 S Ocean Blvd, Myrtle Beach, SC 29577
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      Oceanfront Hotel in Myrtle Beach

      42-room oceanfront hotel with recent renovations and strong tourism.
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    • $88,000

      Oceanfront Condo with Rental Potential

      Updated oceanfront condo in Myrtle Beach with strong rental demand.
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    • $4,900,000
      0.50 Acres

      1901 Ocean Blvd

      Hotels
      1901 Ocean Blvd, Myrtle Beach, SC 29577
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    • Contact for pricing
      2,108 SF

      Turnkey Property in Myrtlewood Community

      Fully furnished property ideal for short-term rentals near Myrtle Beach.
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    Similar Nearby for Lease

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      Industrial Space in Myrtle Beach

      Warehouse and office space in a prime Myrtle Beach location.
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    • $7,686 /Mo
      7,686 SF

      Myrtle Beach Mezzanine Retail Space

      Second floor mezzanine with retail, event, and experiential potential.
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      4,800 SF

      Retail Space in Grande Dunes

      Retail spaces available in proposed Grande Dunes development.
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      1,250 SF

      Restaurant Space on 7th Avenue

      Restaurant space available for lease on October 1, 2025.
      206 7Th Ave N, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      4,135 SF

      Myrtle Beach Mixed-Use Office Space

      Office space in vibrant Myrtle Beach district with live-work-play lifestyle.
      1101 Johnson Ave, Myrtle Beach, SC 29577
      View Details
    • $4,360 /Mo
      1,539 SF

      Class A Office Suites Leasing

      Premium professional office suites available for lease in Myrtle Beach.
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      View Details
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    Myrtle Beach, SC 29577
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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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