Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1423 Ocean Blvd North Myrtle Beach, SC 29582
    Back to Search
    Property profile & analytics

    1423 Ocean Blvd, North Myrtle Beach, SC 29582

    View on Map
    • Hotels
    • 5,640 SF
    • 20.66 lot acres
    Off-Market
    Last Sale Dec 1, 2021
    $7,000,000
    Property ID
    US77-1998263
    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
    $5,805,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 1423 Ocean Blvd

    Year built
    1989
    Construction
    CONCRETE
    Lot size
    20.66 lot acres
    Zone code
    CPO
    Property type
    Hotels
    Property subtype
    Motels
    APN
    357-14-02-0153
    APU
    35714020153

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 1, 2021 $7,000,000 Crescent Beach Holdings LLC Edge Holdings LLC Warranty Deed —
    Dec 13, 1999 — Edge,holdings LLC — Deed Of Trust · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.6954
    Latitude
    33.8094
    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
    $27,883
    $45,511
    $3,882
    $49,393
    -
    $792,000
    $421,500
    $1,213,500

    Comparable in this City

    • Value Estimation by Request
      2,988 SF

      4700 Ocean Blvd

      Motels
      4700 Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $2,015,000
      9,704 SF

      4601 Ocean Blvd

      HOTEL/MOTEL
      4601 Ocean Blvd, North Myrtle Beach, SC 29582-5336
      View Details
    • Value Estimation by Request
      2,526 SF

      604 31st S Ave

      HOTEL/MOTEL
      604 31st S Ave, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation by Request
      1,920 SF

      509 30th S Ave

      HOTEL/MOTEL
      509 30th S Ave, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $745,000
      7,890 SF

      504 31st S Ave

      HOTEL/MOTEL
      504 31st S Ave, Atlantic Beach, SC 29582-4744
      View Details
    • Value Estimation
      $745,000
      2,706 SF

      801 43rd S Ave

      HOTEL/MOTEL
      801 43rd S Ave, North Myrtle Beach, SC 29582
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,693 SF

      Oceanfront Hotel in North Myrtle Beach

      50-unit oceanfront hotel with direct beach access.
      1415 S Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • Contact for pricing

      Highway Frontage Retail Pad Site

      Retail pad site on Highway 17 S with high visibility.
      1304 Highway 17 S, North Myrtle Beach, SC 29582
      View Details
    • $850,000
      3,750 SF

      Atlantic Beach Multifamily Investment Opportunity

      Multifamily property near the beach in a rapidly evolving market.
      603 30Th Ave S, Atlantic Beach, SC 29582
      View Details
    • $320,000
      0.17 Acres

      Atlantic Beach Land Opportunity

      Land in revitalizing Atlantic Beach, close to beach access.
      708 31St Ave S, Atlantic Beach, SC 29582
      View Details
    • $159,999
      0.51 Acres

      Coastal Homesite in Cherry Grove

      Spacious lot near the beach in North Myrtle Beach, SC.
      1424 Jacks Circle Rd, North Myrtle Beach, SC 29582
      View Details
    • Contact for pricing
      2,751 SF

      North Myrtle Beach Office Building

      Highway Commercial zoned office building with high traffic frontage.
      1025 Highway 17 S, North Myrtle Beach, SC 29582
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Corner Commercial Land For Rent

      Corner lot with frontage on US 17 available for rent.
      3105 Highway 17 S, North Myrtle Beach, SC 29582
      View Details
    • $148,929
      3,348 SF

      North Myrtle Beach Retail Space

      High-end retail space in North Myrtle Beach's newest shopping center.
      900 Highway 17 S, North Myrtle Beach, SC 29582
      View Details
    • $615 /Mo

      Class A Office Space

      Class A office suites for lease in North Myrtle Beach.
      1016 2Nd Ave North, North Myrtle Beach, SC 29582
      View Details
    • $1,624 /Mo
      3,733 SF

      Harbourgate Resort Office Space

      Commercial office space at Harbourgate Resort & Marina for lease.
      2100 Sea Mountain Hwy, North Myrtle Beach, SC 29582
      View Details
    • Contact for pricing
      2,275 SF

      Retail Space Available For Rent

      Retail space available for lease in North Myrtle Beach.
      3500 Highway 17 S, North Myrtle Beach, SC 29582
      View Details
    • Contact for pricing

      Class A Office Building Suites

      Three-story office building with modern interior and executive suites.
      1016 2Nd Ave N, North Myrtle Beach, SC 29582
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1423 Ocean Blvd
    North Myrtle Beach, SC 29582
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1423 Ocean Blvd, North Myrtle Beach, SC, 29582
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!