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Property profile & analytics
OFF-MARKET
Estimated value
$2,225,000
Hotels
302 Ocean Blvd Myrtle Beach, SC 29577-4046
Entity Owned
1-yr Hold
Free & Clear
Property ID
US77-1720043
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1962
Construction
CONCRETE
Total area
8,588 SF
Lot
20.25 ac (882,090 SF)
Zoning code
TA8
APN
444-08-04-0004
UPID
US77-1720043
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
Current use
Occupant on record · Public records
-
Beach Bums Surf Shop Beach Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$2.23M
Owner & transaction history
Rainmaker Holdings LLC · 1 yrs held
Rainmaker Holdings LLC
since 2024
Last sale
$2.2M
5 recorded transactions
Zoning & alternative use
TA8 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$3.2M
+66.0%
Medical building
$2.6M
+32.6%
Apartment house (5+ units)
$2.4M
+25.0%
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 Myrtle Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$2,225,000
ML approach
$2,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,950,000
Current use
AUTO REPAIR, GARAGE
$3,240,000
Change: +66% · Conversion: Difficult
MEDICAL BUILDING
$2,585,000
Change: +33% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,440,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$2,095,000
Change: +7% · Conversion: Difficult
RESTAURANT
$1,985,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.23M
Range $2.00M – $2.45M · ±10% · vs last sale $2.23M (Sep 9 2024)
Last sale anchor
$2.23M
Sep 9 2024
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
$259 / 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
$21,407
Tax year 2023
Assessed value
$53,322
Assessed 2023
Previous assessed
$53,322
+0.0% YoY
Effective rate
40.15%
On assessed value
Assessed land
$51,990
Assessed improvement
$1,332
Land market value
$929,290
Improvement market value
$330,600
Total market value
$1,259,890
Applied tax rate
893.0000
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
1962
Construction
CONCRETE
Heating
HEAT PUMP
Total area
8,588 SF
Lot
20.25 ac (882,090 SF)
Zoning code
TA8
APN
444-08-04-0004
UPID
US77-1720043
Jurisdiction
HORRY
Zoning & alternative use
TA8 · Myrtle Beach, SCZoning TA8 · permitted uses
TA8 · Myrtle Beach, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.1M
RESTAURANT
Est. value
$2.0M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RESTAURANT
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
1962
Construction
CONCRETE
Heating
HEAT PUMP
Lot
20.25 ac
Current owner
From public records · entity-resolved
Rainmaker Holdings LLC
Entity
Free & Clear · 1 yrs held
Mailing address
302 N OCEAN BLVD, MYRTLE BEACH, SC 29577-4046
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2024
$2,225,000
Rainmaker Holdings LLC
Rani H Bhambhani
Warranty Deed
—
May 23, 2023
$1,125,000
Rani H Bhambhani
Vishu T Bhambhani
Warranty Deed
related
—
Oct 17, 2019
$1,524,000
Tea Invs LLC
302s LLC
Warranty Deed
$1,219,200 · Wells Fargo Bk
Jul 6, 2016
—
302s LLC
—
Deed
related
$40,000 · First Palmetto Bk
May 7, 2010
—
Bhambhani,vishu
—
Grant Deed
related
$1,200,000 · Coastal Carolina Nat'l Bk
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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