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    Property profile & analytics

    1351 21st N Ave Myrtle Beach, SC 29577-7404

    • Hotels
    • 77,424 SF
    • 2.91 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2022
    Value Estimations
    $7,325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1657055
    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.

    Current Use by Public Records

    • Courtyard Myrtle Beach Broadway / Hotel & Motel
    • 1351 21st Avenue North Parking / Parking Lot & Garage
    • Long Bay Club (Long Bay Golf Resort) / Gym & Fitness Center / Sports Field & Court
    • Pawleys Plantation myrtle beach / Gym & Fitness Center / Sports Field & Court

    Property Details for 1351 21st N Ave

    Year built
    1998
    Construction
    CONCRETE
    Lot size
    2.91 lot acres
    Property size
    77,424 SF
    Zone code
    PUD
    Property type
    Hotels
    Property subtype
    Motels
    APN
    425-05-03-0012
    APU
    42505030012

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,275,000
      6.5%
      $7,640,000
      7%
      $7,095,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,725,000
      Market price range: $3.19M - $15.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8864
    Latitude
    33.7129
    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
    $236,045
    $76,056
    $245,313
    $321,369
    -
    $1,267,600
    $6,684,700
    $7,952,300

    Comparable in this City

    • Value Estimation
      $1,305,000
      14,299 SF

      701 Flagg St

      HOTEL/MOTEL • 14,299 SF
      701 Flagg St, Myrtle Beach, SC 29577-3708
      View Details
    • Value Estimation
      $3,810,000
      23,336 SF

      606 Ocean Blvd

      HOTEL/MOTEL • 23,336 SF
      606 Ocean Blvd, Myrtle Beach, SC 29577-3725
      View Details
    • Value Estimation
      $2,560,000
      13,860 SF

      Ocean Blvd

      HOTEL/MOTEL • 13,860 SF
      Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $2,235,000
      14,751 SF

      1200 Ocean Blvd

      HOTEL/MOTEL • 14,751 SF
      1200 Ocean Blvd, Myrtle Beach, SC 29577-3757
      View Details
    • Value Estimation
      $2,610,000
      15,705 SF

      805 Ocean Blvd

      HOTEL/MOTEL • 15,705 SF
      805 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • Value Estimation by Request
      69,814 SF

      1803 Ocean Blvd

      HOTEL/MOTEL • 69,814 SF
      1803 Ocean Blvd, Myrtle Beach, SC 29577-4633
      View Details

    Similar Nearby for Sale

    • $4,995,000
      22,442 SF

      Ocean Boulevard Hospitality Investment

      60-door hospitality property on 0.83 acres in Myrtle Beach.
      806 S Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $5,490,000
      22,092 SF

      Renovated Hotel Near Myrtle Beach

      Newly renovated 63-room hotel near Myrtle Beach SkyWheel.
      507 Ocean Blvd N, Myrtle Beach, SC 29577
      View Details
    • 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
    • $3,950,000
      20,000 SF

      Myrtle Beach Renovated Corner Property

      Prime location near the ocean with fully renovated units.
      300 10Th Ave N, Myrtle Beach, SC 29577
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    • $3,950,000
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      Myrtle Beach Hospitality Opportunity

      Turnkey hospitality property near the ocean and Sky Wheel.
      300 10Th Ave N, Myrtle Beach, SC 29577
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      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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    Similar Nearby for Lease

    • $5,000 /Mo
      2,230 SF

      Professional Office Building in Myrtle Beach

      Well-maintained office building in the heart of Myrtle Beach.
      607 19Th Ave N, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      14,038 SF

      Myrtle Beach Industrial Space Available

      Class A industrial space in Myrtle Beach's North Industrial Park.
      1330 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing

      Retail Space on Highway 501

      Retail space for rent, one mile from downtown Myrtle Beach.
      1346 Us-501, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing

      Land For Rent Myrtle Beach

      Commercial land available for rent in Myrtle Beach, SC.
      1200 Coastal Grand Cir, Myrtle Beach, SC 29577
      View Details
    • $5,833 /Mo

      Office/Warehouse Space in North Industrial

      5,000 SF office/warehouse space for lease in Myrtle Beach.
      1460 Dividend Loop, Myrtle Beach, SC 29577
      View Details
    • $1.46 SF/Yr

      Land For Rent Myrtle Beach

      Land available for rent in Myrtle Beach, South Carolina.
      912 Todd St, Myrtle Beach, SC 29577
      View Details

    Property Visit Statistics

    • Visits by month
      5.5k
    • Visitors by month
      2.5k
    • Avg Time on site
      443 min
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    Myrtle Beach, SC 29577-7404
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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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