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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2376 Hwy 501 Conway, SC 29526-9526

    • Hotels
    • 21,776 SF
    • 1.68 lot acres
    OFF-MARKET
    Last Sale
    Dec 06, 2024
    $6,750,000
    Value Estimations
    $6,750,000
    Show details
    Cap Rate Potential
    2.1%
    Hotels
    Location Intelligence
    Property ID
    US77-1684253
    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

    • Suburban Extended Stay Hotel At the University / Hotel

    Property Details for 2376 Hwy 501

    Year built
    1984
    Construction
    CONCRETE BLOCKS
    Lot size
    1.68 lot acres
    Property size
    21,776 SF
    Zone code
    HC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    383-11-04-0017
    APU
    38311040017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,750,000
      ML approach
      $6,750,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,505,000
      Current use
      COMMERCIAL (GENERAL)
      $10,815,000
      Change: +97% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $8,990,000
      Change: +63% Conversion: Difficult
      RESTAURANT
      $7,640,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,885,000
      Change: +25% Conversion: Difficult
      MEDICAL BUILDING
      $6,560,000
      Change: +19% Conversion: Difficult
      WAREHOUSE, STORAGE
      $4,635,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9966
    Latitude
    33.7888
    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
    $20,198
    $32,830
    $56,893
    $89,723
    -
    $731,810
    $1,723,000
    $2,454,810

    Comparable in this City

    • Value Estimation
      $1,000,000
      27,564 SF

      2480 Hwy 501

      HOTEL/MOTEL • 27,564 SF
      2480 Hwy 501, Conway, SC 29526-9527
      View Details
    • Value Estimation
      $920,000
      7,349 SF

      1240 Hwy 501st Business

      HOTEL/MOTEL • 7,349 SF
      1240 Hwy 501st Business, Conway, SC 29526-9590
      View Details
    • Value Estimation
      $6,750,000
      16,752 SF

      University Plz Dr

      HOTEL/MOTEL • 16,752 SF
      University Plz Dr, Conway, SC 29526
      View Details
    • Value Estimation by Request
      21,098 SF

      1004 Waccamaw Dr

      HOTEL/MOTEL • 21,098 SF
      1004 Waccamaw Dr, Conway, SC 29526-8519
      View Details
    • Value Estimation
      $670,000
      19,880 SF

      1240 Pne St

      HOTEL/MOTEL • 19,880 SF
      1240 Pne St, Conway, SC 29526-3402
      View Details
    • Value Estimation
      $805,000
      18,490 SF

      Hwy 501

      HOTEL/MOTEL • 18,490 SF
      Hwy 501, Conway, SC 29526
      View Details

    Similar Nearby for Sale

    • $750,000
      1,184 SF

      Turn Key Historic District Building

      Recently renovated building in historic district with foot traffic and parking.
      337 Main St, Conway, SC 29526
      View Details
    • $626,050
      4.63 Acres

      Conway Industrial Land - $626K

      4.63 Acres, Hwy 701 Frontage, LI Zoning
      701 & Industrial Park Rd, Conway, SC 29526
      View Details
    • $100,000
      1.89 Acres

      Wooded Acreage in Conway, SC

      1.89 acres of wooded land, ideal for custom home.
      Tbd Long Ave Ext, Conway, SC 29526
      View Details
    • $339,200
      8.08 Acres

      Conway Acreage Available

      Residential land for sale in Conway, South Carolina.
      Tbd Ml Berry Ln, Conway, SC 29526
      View Details
    • $149,000
      0.93 Acres

      Commercial Land on Highway 90

      CFA zoned land for sale on Highway 90 corridor.
      Tbd Hwy 90, Conway, SC 29526
      View Details
    • $75,000
      1.66 Acres

      Riverfront Acreage in Conway, SC

      1.66 acre riverfront land with dock permits in place.
      2027 Lees Landing Cir, Conway, SC 29526
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      6,000 SF

      Modern Warehouse Space Available

      New 6,000 SF Warehouse; Flexible Units
      489 Myrtle Ridge Dr, Conway, SC 29526
      View Details
    • Contact for pricing
      1 SF

      Prime Conway Commercial Land

      ±30 acres, Hwy 501 frontage, high traffic.
      2702 Us-501, Conway, SC 29526
      View Details
    • Contact for pricing
      100,490 SF

      Prime Conway Industrial Space

      100,490 SF Class A Manufacturing/Distribution Building
      422 Commerce Park Dr, Conway, SC 29526
      View Details
    • $14 SF/Yr
      20,000 SF

      Manufacturing/Storage Space for Lease

      Manufacturing and storage space available with loading dock access.
      2951 Highway 501 E, Conway, SC 29526
      View Details
    • $3,338 /Mo
      Pending

      Downtown Conway Office/Retail Opportunity

      Prime commercial space in Conway's Historic Downtown District.
      1203 Main St, Conway, SC 29526
      View Details
    • $2,500 /Mo
      900 SF

      Retail Space in High-Traffic Area

      Ready-to-use retail space suitable for various commercial purposes.
      4590 Highway 501 W, Conway, SC 29526
      View Details
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    2376 Hwy 501
    Conway, SC 29526-9526
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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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