1402 Ocean Blvd Myrtle Beach, SC 29577-3761
- Turn key restaurants
- 13,281 SF
- 0.72 lot acres
Mar 10, 2023
Current Use by Public Records
- Turn key restaurants
Property Details for 1402 Ocean Blvd
- Year built
- 2018
- Lot size
- 0.72 lot acres
- Property size
- 13,281 SF
- Zone code
- TA8
- Property type
- Turn key restaurants
- APN
- 444-02-01-0427
- APU
- 44402010427
Description
This 159-suite oceanfront hotel in Myrtle Beach, South Carolina, presents a compelling value-add investment opportunity. The property boasts 115 feet of prime beachfront access on the Myrtle Beach Boardwalk, with all suites offering unobstructed ocean views and fully equipped kitchens. Built in 1973, the dual-tower hotel comprises two eleven-story buildings on a 2.33-acre lot. All 159 units were previously "condo'd," offering significant flexibility for business plan execution, including potential for individual condo sales, rental pool programs, or fractional ownership. The hotel's location in a Qualified Opportunity Zone (QOZ) provides potential tax advantages for investors. Myrtle Beach's rapid population growth and designation as a top relocation destination create a high-demand market with a high barrier to entry. The unbranded nature of the hotel allows for flexible repositioning and management strategies to maximize value. Amenities include two outdoor pools, four whirlpools, and a shuffleboard court. The property's proximity to the Myrtle Beach airport and popular attractions further enhances its appeal. This is a rare opportunity to acquire a well-positioned, high-potential asset in a thriving market.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.8749
- Latitude
- 33.6961
- CBSA code
- 34820
- CBSA name
- MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA
