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    Property profile & analytics

    1515 Ocean Blvd North Myrtle Beach, SC 29582-3933

    • Hotels
    • 8,133 SF
    • 18.94 lot acres
    OFF-MARKET
    Value Estimations
    $1,510,000
    Show details
    Cap Rate Potential
    8.2%
    Hotels
    Location Intelligence
    Property ID
    US77-1747841
    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

    • Hotels

    Property Details for 1515 Ocean Blvd

    Year built
    1970
    Lot size
    18.94 lot acres
    Property size
    8,133 SF
    Zone code
    CPO
    Property type
    Hotels
    Property subtype
    Motels
    APN
    357-14-02-0147
    APU
    35714020147

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,654,000
      Market price range: $430k - $2.20M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,055,000
      Current use
      MEDICAL BUILDING
      $2,450,000
      Change: +19% Conversion: Difficult
      OFFICE BUILDING
      $1,825,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.6971
    Latitude
    33.8087
    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
    $14,556
    $45,000
    $18,480
    $63,480
    -
    $750,000
    $338,300
    $1,088,300

    Comparable in this City

    • Value Estimation
      $1,060,000
      9,277 SF

      N

      HOTEL/MOTEL • 9,277 SF
      N, Myrtle Beach, SC 29582
      View Details
    • Value Estimation by Request
      4,888 SF

      206 3rd N Ave

      HOTEL/MOTEL • 4,888 SF
      206 3rd N Ave, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $645,000
      5,438 SF

      200 47th S Ave

      HOTEL/MOTEL • 5,438 SF
      200 47th S Ave, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $5,590,000
      41,861 SF

      1603 Ocean Blvd

      HOTEL/MOTEL • 41,861 SF
      1603 Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • Value Estimation
      $6,225,000
      11,532 SF

      1425 Ocean Blvd

      HOTEL/MOTEL • 11,532 SF
      1425 Ocean Blvd, North Myrtle Beach, SC 29582-3849
      View Details
    • Value Estimation
      $5,540,000
      13,596 SF

      2308 Ocean Blvd

      HOTEL/MOTEL • 13,596 SF
      2308 Ocean Blvd, North Myrtle Beach, SC 29582-2464
      View Details

    Similar Nearby for Sale

    • $1,960,000
      4,774 SF

      Versatile Coastal Property with Ocean Views

      Two homes on commercially zoned lot with income potential.
      2004/2006 S Ocean Blvd, North Myrtle Beach, SC 29582
      View Details
    • $872,000
      Pending

      Multifamily Investment Property Near Ocean

      Multifamily property in North Myrtle Beach, short or long-term rentals.
      1704 Hillside Dr S, North Myrtle Beach, SC 29582
      View Details
    • $209,850
      0.12 Acres

      Residential Lot Near Ocean

      Residential lot east of Hwy 17, blocks from the ocean.
      935 Edge Dr, North Myrtle Beach, SC 29582
      View Details
    • $3,700,000
      9,500 SF

      North Myrtle Beach Entertainment Venue

      Established entertainment venue with ocean views in North Myrtle Beach.
      205 Main St, North Myrtle Beach, SC 29582
      View Details
    • $1,875,000
      11,000 SF

      North Myrtle Beach Rental Machine

      Duplex near the beach with strong rental income potential.
      400 Hillside Dr S, North Myrtle Beach, SC 29582
      View Details
    • $950,000
      3.22 Acres

      Waterfront Residential Lot Opportunity

      3.22-acre waterfront lot on Intracoastal Waterway in North Myrtle Beach.
      4 Bay Ridge Dr, North Myrtle Beach, SC 29582
      View Details

    Similar Nearby for Lease

    • $148,929
      3,348 SF

      North Myrtle Beach Retail Space

      High-end retail space in a desirable shopping center.
      900 S Highway 17 S, North Myrtle Beach, SC 29582
      View Details
    • 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
    • Contact for pricing

      Versatile Workspace Solutions Available

      Flexible office spaces, coworking, meeting rooms, and virtual office options.
      1000 2Nd Ave S, North Myrtle Beach, SC 29582
      View Details
    • $70,000
      14,810 SF

      Prime Commercial Lot on Highway

      High-visibility commercial lot for lease in North Myrtle Beach.
      1309 Highway 17 North, North Myrtle Beach, SC 29582
      View Details
    • Contact for pricing

      Main Street Building Under Renovation

      5,000 SF building for rent in North Myrtle Beach.
      504 Main St, North Myrtle Beach, SC 29582
      View Details
    • $20 SF/Yr

      Retail Center in North Myrtle Beach

      Retail center in the heart of North Myrtle Beach retail corridor.
      200 Highway 17 North, North Myrtle Beach, SC 29582
      View Details
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    1515 Ocean Blvd
    North Myrtle Beach, SC 29582-3933
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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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