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Property profile & analytics
OFF-MARKET
Estimated value
$5,540,000
Hotels
2308 Ocean Blvd North Myrtle Beach, SC 29582-2464
Entity Owned
1-yr Hold
Free & Clear
Property ID
US77-1813927
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1966
Total area
13,596 SF
Lot
43.33 ac (1,887,455 SF)
Zoning code
RC
APN
355-02-01-0107
UPID
US77-1813927
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.32M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.80M
Blend (final)
Blend
$5.54M
Owner & transaction history
North Myrtle Beach City Of · 1 yrs held
North Myrtle Beach City Of
since 2024
Last sale
$5.4M
2 recorded transactions
Zoning & alternative use
RC · North Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.6M
+63.4%
Commercial (general)
$5.3M
+53.0%
Retail stores
$5.0M
+45.5%
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 North Myrtle Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$7,625,000
ML approach
$7,315,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$3,435,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,615,000
Change: +63% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,255,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$5,000,000
Change: +45% · Conversion: Difficult
RESTAURANT
$4,770,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,300,000
Change: +25% · Conversion: Difficult
MEDICAL BUILDING
$4,095,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$5.54M
Range $4.99M – $6.09M · ±10% · vs last sale $5.40M (Jun 16 2022)
Last sale anchor
$5.40M
Jun 16 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
$407 / 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
Tax billed
$52,934
Tax year 2023
Assessed value
$103,503
Assessed 2023
Previous assessed
$103,503
+0.0% YoY
Effective rate
51.14%
On assessed value
Assessed land
$96,179
Assessed improvement
$7,324
Land market value
$2,265,000
Improvement market value
$687,200
Total market value
$2,952,200
Applied tax rate
550.0000
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
1966
Heating
HOT WATER
Cooling
YES
Total area
13,596 SF
Lot
43.33 ac (1,887,455 SF)
Zoning code
RC
APN
355-02-01-0107
UPID
US77-1813927
Jurisdiction
HORRY
Zoning & alternative use
RC · North Myrtle Beach, SC
Zoning RC · permitted uses
RC · North Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Myrtle Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.6M
COMMERCIAL (GENERAL)
Est. value
$5.3M
RETAIL STORES
Est. value
$5.0M
RESTAURANT
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$4.1M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1966
Heating
HOT WATER
Cooling
Yes
Lot
43.33 ac
Current owner
From public records · entity-resolved
North Myrtle Beach City Of
Entity
Free & Clear · 1 yrs held
Mailing address
85 BROAD ST FL #17, NEW YORK, NY 10004-2783
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2024
—
North Myrtle Beach City Of
Pelican Apts LLC
Warranty Deed
—
Jun 16, 2022
$5,399,000
Pelican Apts LLC
Pelican Motel INC
Warranty Deed
$4,687,400 · Project Funder
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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