2209 Ocean Blvd, Myrtle Beach, SC 29577-4742
- Hotels
- 25,248 SF
- 0.52 lot acres
Current Use by Public Records
- Compass Cove - Indigo Tower / Hotel & Motel
- INDIGO / Hotel & Motel
Property Details for 2209 Ocean Blvd
- Year built
- 1974
- Construction
- CONCRETE
- Lot size
- 0.52 lot acres
- Zone code
- TA8
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 445-02-01-0198
- APU
- 44502010198
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 22, 2024 | $3,850,000 | Indigo Hotel LLC | Blue Skies Development LLC | Warranty Deed | $3.3M · Anderson Brothers Bank |
| Jan 9, 2018 | — | Blue Skies Dev LLC | — | Deed · related | $1M · Compass Cove Hldgs LLC |
| Dec 15, 2017 | — | Blue Skies Dev LLC | David E Akel | Quit Claim Deed · related | — |
| May 8, 2013 | — | Blue Skies Dev LLC | — | Deed Of Trust · related | $1.8M · Nbsc |
| Jan 3, 2005 | $658,950 | Akel,david E | Essa J Akel | Grant Deed · related | — |
| — | — | Blue Skies Dev LLC | — | Deed Of Trust · related | $1M · Compass Cove Hldgs LLC |
Description
This exceptional oceanfront motel in Myrtle Beach, South Carolina presents a lucrative investment opportunity. The property, located at 2209 S Ocean Blvd, boasts 54 oceanfront units within a 35,400 square foot building situated on a 0.65-acre lot. The nine-story structure enjoys 160 feet of direct Atlantic Ocean frontage, offering unparalleled views and beach access. Its MU-H zoning allows for a variety of hospitality uses. The asking price is $7,400,000, translating to $293.09 per square foot. Conveniently located approximately 1.5 miles from Myrtle Beach International Airport and The Market Common, and within 2 miles of major tourist attractions including Ripley's Believe It or Not, Gay Dolphin, and the Sky Wheel, this motel benefits from its proximity to the heart of Myrtle Beach's vibrant tourism scene. Myrtle Beach's renowned beaches, golf courses, and diverse attractions draw over 20 million visitors annually, ensuring consistent demand. Horry County's rapid growth further enhances the property's long-term investment potential. The property's APN is 44502010198. This is a rare chance to acquire a highly profitable, established hospitality business in one of the East Coast's premier resort destinations.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,850,000
- ML approach
- $3,850,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,700,000
- 6.5%
- $2,490,000
- 7%
- $2,315,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $4,614,000
Market price range: $1.04M - $5.09M -
Alternative Use
- Use
- Estimation
- HOTEL/MOTEL
- $5,740,000 Current use
- OFFICE BUILDING
- $6,165,000 Change: +7% Conversion: Difficult
- RESTAURANT
- $5,840,000 Change: +2% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.908
- Latitude
- 33.6671
- CBSA code
- 34820
- CBSA name
- MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA
