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Property profile & analytics
OFF-MARKET
Estimated value
$3,515,000
Hotels
1005 Ocean Blvd Myrtle Beach, SC 29577-4441
Individually Owned
2-yr Hold
Free & Clear
Property ID
US77-1882462
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1980
Construction
CONCRETE
Total area
23,695 SF
Lot
0.03 ac (1,307 SF)
Zoning code
TA4
APN
443-11-03-0070
UPID
US77-1882462
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ocean Plaza Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.34M
Comparable Approach
Comparable
$3.64M
Blend (final)
Blend
$3.52M
Owner & transaction history
Williams Mary Patsy Tr · 2 yrs held
Williams Mary Patsy Tr
since 2024
7 recorded transactions
Zoning & alternative use
TA4 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.8M
+7.4%
Restaurant
$5.5M
+1.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Myrtle Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Myrtle Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,530,000
6.5%
$2,340,000
7%
$2,170,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$5,385,000
Current use
OFFICE BUILDING
$5,785,000
Change: +7% · Conversion: Difficult
RESTAURANT
$5,480,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$3.52M
Range $3.16M – $3.87M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$148 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$49,243
Tax year 2023
Assessed value
$173,879
Assessed 2023
Previous assessed
$173,879
+0.0% YoY
Effective rate
28.32%
On assessed value
Assessed land
$91,758
Assessed improvement
$82,121
Land market value
$1,638,670
Improvement market value
$2,359,200
Total market value
$3,997,870
Applied tax rate
899.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1980
Construction
CONCRETE
Heating
HOT WATER
Cooling
YES
Buildings
2
Total area
23,695 SF
Lot
0.03 ac (1,307 SF)
Zoning code
TA4
APN
443-11-03-0070
UPID
US77-1882462
Jurisdiction
HORRY
Zoning & alternative use
TA4 · Myrtle Beach, SC
Zoning TA4 · permitted uses
TA4 · Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Myrtle Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$5.4M
OFFICE BUILDING
Est. value
$5.8M
RESTAURANT
Est. value
$5.5M
HOTEL/MOTEL Current
OFFICE BUILDING
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Buildings
2
Lot
0.03 ac
Current owner
From public records · entity-resolved
Williams Mary Patsy Tr
Individual
Free & Clear · 2 yrs held
Mailing address
1005 S OCEAN BLVD, MYRTLE BEACH, SC 29577-4441
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2024
—
Williams Mary Patsy Tr
Mary Patsy Williams
Warranty Deed
—
Oct 25, 2002
$327,500
Burgess Baird JR.
—
Grant Deed
—
Oct 4, 2002
$460,000
Michael J Alekna
—
Grant Deed
—
Sep 16, 2002
—
Smith,ted L Tr
—
Grant Deed
related
—
Jun 20, 2002
$310,000
James W Bryant
—
Grant Deed
—
May 23, 2002
$522,000
Raymond C Lindsay
—
Grant Deed
—
May 13, 2002
—
High Point Bank & Trust Co
—
Grant Deed
related
—
Mar 11, 2002
$467,500
Camille Lovette
—
Grant Deed
—
—
—
Ocean Plaza Inn LLC
—
Deed Of Trust
related
$930,000 · Nbsc
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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