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Property profile & analytics
OFF-MARKET
Estimated value
$4,805,000
Hotels
1607 Ocean Blvd Myrtle Beach, SC 29577-4629
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US77-3035546
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1974
Construction
CONCRETE
Total area
32,670 SF
Lot
58.77 ac (2,560,021 SF)
Zoning code
TA8
APN
443-14-04-0003
UPID
US77-3035546
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
-
Gazebo Inn Oceanfront Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.21M
CAP Approach
CAP
$3.23M
Comparable Approach
Comparable
$6.27M
Blend (final)
Blend
$4.81M
Owner & transaction history
Mb 1607 LLC · 4 yrs held
Mb 1607 LLC
since 2022
Last sale
$4.3M
7 recorded transactions
Zoning & alternative use
TA8 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.0M
+7.4%
Restaurant
$7.6M
+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
$6,070,000
ML approach
$6,205,000
CAP Approach
CAP Return
Estimation
6%
$3,490,000
6.5%
$3,225,000
7%
$2,995,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$7,425,000
Current use
OFFICE BUILDING
$7,975,000
Change: +7% · Conversion: Difficult
RESTAURANT
$7,560,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$4.81M
Range $4.32M – $5.29M · ±10% · vs last sale $4.30M (Feb 1 2022)
Last sale anchor
$4.30M
Feb 1 2022
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
$147 / 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
Assessed value
$155,720
Assessed 2023
Previous assessed
$155,720
+0.0% YoY
Assessed land
$96,877
Assessed improvement
$58,843
Land market value
$1,731,600
Improvement market value
$1,428,500
Total market value
$3,160,100
Applied tax rate
880.0000
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
1974
Construction
CONCRETE
Heating
HOT WATER
Cooling
YES
Buildings
2
Total area
32,670 SF
Lot
58.77 ac (2,560,021 SF)
Zoning code
TA8
APN
443-14-04-0003
UPID
US77-3035546
Jurisdiction
HORRY
Zoning & alternative use
TA8 · Myrtle Beach, SC
Zoning TA8 · permitted uses
TA8 · 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
$7.4M
OFFICE BUILDING
Est. value
$8.0M
RESTAURANT
Est. value
$7.6M
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
1974
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Buildings
2
Lot
58.77 ac
Current owner
From public records · entity-resolved
Mb 1607 LLC
Entity
Mailing address
2860 CRAVEY DR NE, ATLANTA, GA 30345-1420
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2024
—
Mb 1607 LLC
—
Deed
related
$336,000 · Small Business Administration
Apr 10, 2024
—
Mb 1607 LLC
—
Deed
related
$2,374,000 · Provident Business Financial
Apr 1, 2024
—
Mb 1607 LLC
—
Deed
related
$2,321,100 · First Port City Bank
Feb 1, 2022
$4,300,000
Mb 1607 LLC
Hurl Rock Motel INC
Warranty Deed
$4,138,750 · First Port City Bank
Jul 23, 2021
—
Hurl Rock Motel INC
—
Deed
related
$1,400,000 · United Bank
Sep 23, 2011
$1,200,000
Hurl Rock Motel INC
Master In Equity Of Horry Cnty
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
—
May 8, 2007
$4,400,000
Seashore Capital Partners LLC
Gazebo Inn INC
Warranty Deed
related
$2,897,650 · Hurl Rock Motel INC
Jul 30, 2004
$65,000
Flournoy,donald T
Wesley C Wellons
Warranty Deed
$60,052 · Wachovia Bk
Sep 17, 2001
—
Gazebo Inn INC
—
Grant Deed
related
—
—
—
Casey,thomas M & Jacqueline S
—
Deed Of Trust
related
$40,000 · Bank Of America
—
—
Hurl Rock Motel INC
—
Deed Of Trust
related
$1,000,000 · Crescom Bk
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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