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    Property profile & analytics

    2913 Ocean Blvd Myrtle Beach, SC 29577-4855

    • Hotels
    • 29,402 SF
    • 4.02 lot acres
    OFF-MARKET
    Last Sale
    Jul 19, 2023
    $249,270
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1959622
    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

    • Crown Reef Beach Resort and Waterpark / Hotel & Motel / Resort
    • Starbucks / Cafe & Coffee Shop
    • Loco Gecko / Restaurant

    Property Details for 2913 Ocean Blvd

    Year built
    1994
    Construction
    STEEL FRAME
    Lot size
    4.02 lot acres
    Property size
    29,402 SF
    Zone code
    TA-
    Property type
    Hotels
    Property subtype
    Motels
    APN
    445-08-01-0003
    APU
    44508010003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9156
    Latitude
    33.6607
    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
    $356,745
    $744,029
    $632,520
    $1,376,549
    -
    $13,295,450
    $58,943,900
    $72,239,350

    Comparable in this City

    • Value Estimation by Request
      8,592 SF

      509 Ocean Blvd

      Motels • 8,592 SF
      509 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $3,515,000
      23,695 SF

      1005 Ocean Blvd

      HOTEL/MOTEL • 23,695 SF
      1005 Ocean Blvd, Myrtle Beach, SC 29577-4441
      View Details
    • Value Estimation
      $3,160,000
      35,808 SF

      101 Ocean Blvd

      HOTEL/MOTEL • 35,808 SF
      101 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $1,015,000
      5,127 SF

      210 Ocean Blvd

      HOTEL/MOTEL • 5,127 SF
      210 Ocean Blvd, Myrtle Beach, SC 29577-4044
      View Details
    • Value Estimation
      $540,000
      6,240 SF

      308 7th N Ave

      HOTEL/MOTEL • 6,240 SF
      308 7th N Ave, Myrtle Beach, SC 29577-3767
      View Details
    • Value Estimation by Request
      2,403 SF

      1420 Carver St

      HOTEL/MOTEL • 2,403 SF
      1420 Carver St, Myrtle Beach, SC 29577-3309
      View Details

    Similar Nearby for Sale

    • $2,640,000
      8,592 SF

      Oceanfront Myrtle Beach Hotel

      Prime location, 24-unit hotel, turnkey operation.
      509 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • New
      $4,995,000
      22,442 SF

      Myrtle Beach Hospitality Investment Opportunity

      60-door hospitality property on 0.83-acre corner lot.
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      24,617 SF

      Oceanfront Myrtle Beach Hotel

      Luxury 63-unit hotel, turnkey operation
      507 Ocean Blvd, Myrtle Beach, SC 29577
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    • $219,900
      711 SF

      Updated Condo with Ocean Views

      Updated 1-bedroom condo with ocean views and resort amenities.
      2501 S Ocean Blvd, Myrtle Beach, SC 29577
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    • $4,290,000
      17,210 SF

      Oceanfront Hotel - Myrtle Beach

      Turnkey Hotel, 39 Units, Ocean Views
      507 Ocean Blvd, Myrtle Beach, SC 29577
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    • $5,490,000
      22,092 SF

      Renovated Hotel Near Myrtle Beach

      Newly renovated 63-room hotel near Myrtle Beach SkyWheel.
      507 Ocean Blvd N, Myrtle Beach, SC 29577
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    Similar Nearby for Lease

    • $2,870 /Mo
      2,958 SF

      For Lease. 2,958 SF, second floor Office Space in Myrtle Beach

      For Lease. 2,958 SF, second floor Office Space in Myrtle Beach
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    • $16 SF/Yr
      10,125 SF

      Industrial Space Available For Rent

      Industrial property offering 10125 square feet for rent.
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    • Contact for pricing
      1,184 SF

      Market Common Townhome Rental

      Stylish 2-bedroom townhome in vibrant Market Common district.
      2954 Yancey Way, Myrtle Beach, SC 29577
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    • $0.74 SF/Yr

      Land For Rent Myrtle Beach

      Land available for rent in Myrtle Beach, South Carolina.
      904 Todd St, Myrtle Beach, SC 29577
      View Details
    • New
      $2,218 /Mo
      2,360 SF

      Myrtle Beach Office/Retail Space

      Standalone building with high visibility, suitable for office or retail.
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      View Details
    • $33,595

      Former Golf Academy Available

      25,196 SF Myrtle Beach facility for lease.
      1900 Mr Joe White Ave, Myrtle Beach, SC 29577
      View Details
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    Myrtle Beach, SC 29577-4855
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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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