2100 Ocean Blvd Myrtle Beach, SC 29577-4732
- Motels
- 2,080 SF
- 28.12 lot acres
Current Use by Public Records
- Mystic Sea Mini Mart / Convenience Store
- ATM / Atm
- Towers At Grove / Hotel
Property Details for 2100 Ocean Blvd
- Year built
- 1988
- Construction
- CONCRETE
- Lot size
- 28.12 lot acres
- Property size
- 2,080 SF
- Zone code
- TA1
- Property type
- Motels
- APN
- 445-02-01-0649
- APU
- 44502010649
Description
This exceptional mixed-use property, located at 2100 S Ocean Blvd in Myrtle Beach, South Carolina, presents a lucrative investment opportunity. The 12,075 sq ft lot encompasses a 5,092 sq ft free-standing commercial building currently operating as a convenience store, boasting a 2021 gross annual revenue of $1,300,000 and projected to match in 2022. The building, constructed in 1988, features two buildings and two stories, and is zoned for commercial use. In addition to the retail space, the property includes six residential rental units: four one-bedroom condos and a detached two-bedroom house. These units currently generate $62,400 in annual rental income, with potential for significantly higher returns through short-term rentals, estimated at approximately $120,000 annually. The property is offered fee simple at $2,800,000 ($549.88/sq ft), with 100% occupancy. Annual property taxes are $12,635 and insurance costs $6,000. The convenience store is also available for lease to a third party, with multiple interested entities. This property offers a unique blend of established commercial income and significant residential rental potential in a highly desirable Myrtle Beach location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,740,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,765,000
- 6.5%
- $2,840,000
- 7%
- $2,590,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,795,000
- Geo Method
- $2,295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,955,000
- Retail
- $2,500,000
- Mixed-Use
- $2,435,000
- Hospitality
- $2,390,000
- Educational
- $2,875,000
- Residential Income
- $3,000,000
- Energy
- $2,185,000
- Income-Based Land
- $2,870,000
- Food Service
- $2,615,000
Location Insight
- Map
- Local Demand
- City
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.9069
- Latitude
- 33.6692
- CBSA code
- 34820
- CBSA name
- MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA
