501 Ocean Blvd Myrtle Beach, SC 29577-3915

This exceptional 26-key boutique hotel, the Lily & Bloom, presents a compelling investment opportunity in Myrtle Beach, South Carolina. Located at 501 N Ocean Blvd, this fully stabilized property boasts a 9.56% cap rate and a strong NOI of $247,708. The 6,008 square foot building, constructed in 1960 and extensively renovated in 2022, features 48 beds across its two stories. The renovation encompassed both exterior and interior updates, ensuring a modern and inviting atmosphere for guests. The hotel benefits from a prime location on Ocean Boulevard, providing direct beach access and proximity to downtown attractions. With 17 parking spaces and permitted R7 zoning, the property offers convenience and flexibility. The hotel is efficiently managed by a third-party company, minimizing operational concerns. The asking price is $2,590,000, translating to a price per key of $99,615.38. This represents a highly competitive price point for a beachfront hospitality asset in this thriving market. The property includes an outdoor pool and benefits from high foot traffic. Detailed financial information is available upon request. This is a rare chance to acquire a well-maintained, high-performing hotel in a desirable location. The property's strong performance and prime location make it an ideal investment for discerning buyers. The Horry County property, APN 44408010203, offers a unique blend of beach access and urban convenience.