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    Property profile & analytics

    1901 Ocean Blvd Myrtle Beach, SC 29577

    • Turn key restaurants
    • 2,349 SF
    • 17.91 lot acres
    For Sale
    View listing
    $4,900,000
    Last Sale
    Dec 06, 2021
    $1,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0945308
    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

    • Anderson Park / Resort
    • SOUTHERN BREEZE OCEANFRONT / Hotel & Motel

    Property Details for 1901 Ocean Blvd

    Year built
    2011
    Construction
    CONCRETE
    Lot size
    17.91 lot acres
    Property size
    2,349 SF
    Zone code
    TA8
    Property type
    Turn key restaurants
    APN
    424-15-03-0299
    APU
    42415030299

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $958,000
      Market price range: $328k - $958k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,350,000
      AUTO REPAIR, GARAGE
      $885,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.872
    Latitude
    33.6998
    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
    $18,878
    $29,187
    $24,288
    $53,475
    -
    $524,520
    $586,500
    $1,111,020

    Comparable in this City

    • Value Estimation
      $1,160,000
      8,544 SF

      4617 Kings Hwy

      RESTAURANT • 8,544 SF
      4617 Kings Hwy, Myrtle Beach, SC 29577-2770
      View Details
    • Value Estimation
      $1,120,000
      8,328 SF

      1136 Oak Frst Ln

      RESTAURANT • 8,328 SF
      1136 Oak Frst Ln, Myrtle Beach, SC 29577-9796
      View Details
    • Value Estimation
      $640,000
      3,466 SF

      1106 Ocean Blvd

      RESTAURANT • 3,466 SF
      1106 Ocean Blvd, Myrtle Beach, SC 29577-3755
      View Details
    • Value Estimation
      $750,000
      5,333 SF

      1571 21st N Ave

      RESTAURANT • 5,333 SF
      1571 21st N Ave, Myrtle Beach, SC 29577-7441
      View Details
    • Value Estimation
      $1,455,000
      8,662 SF

      1002 29th N Ave

      RESTAURANT • 8,662 SF
      1002 29th N Ave, Myrtle Beach, SC 29577-3171
      View Details
    • Value Estimation
      $800,000
      4,458 SF

      501 Kings Hwy

      RESTAURANT • 4,458 SF
      501 Kings Hwy, Myrtle Beach, SC 29577-4408
      View Details

    Similar Nearby for Sale

    • $650,000

      Established Restaurant Business Opportunity

      Established 95-seat restaurant with loyal customer base in Myrtle Beach.
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    • $100,000

      Dominican Restaurant and Entertainment Venue

      Established bachata restaurant and grill with entertainment space for sale.
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    • $775,000
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      0.63-acre out-parcel at a signalized intersection, ideal for development.
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    • $7,600,000
      23,336 SF

      Oceanfront Hospitality Property with Restaurant

      Oceanfront 54-unit building with commercial restaurant space and parking lot.
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    • $225,000
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      Turnkey Tea Bar Business

      Established tea and coffee bar in Myrtle Beach for sale.
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    Similar Nearby for Lease

    • $14,546 /Mo

      Oceanfront Entertainment and Business Location

      Prime Myrtle Beach location with ocean views and high foot traffic.
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    • $36 SF/Yr
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      Oceanfront Retail & Restaurant Space

      Prime Myrtle Beach location with ocean views and beach access.
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    • $6,000 /Mo
      2,000 SF

      Prime Retail Space For Lease

      High-visibility retail space in a bustling Myrtle Beach location.
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    • $13 SF/Yr
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      Village Square Retail Space

      Myrtle Beach Creative Office, 22,065 SF
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    • $12,820 /Mo

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      Prime Myrtle Beach location with ocean views and high foot traffic.
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      View Details
    • $13 SF/Yr

      Myrtle Beach Retail/Office Unit

      Retail/office unit in Myrtle Beach's Arts & Innovation District.
      515 9Th Ave North, Myrtle Beach, SC 29577
      View Details
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    Myrtle Beach, SC 29577
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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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