501 Ocean Blvd, Myrtle Beach, SC 29577-3915
- Hotels
- 6,008 SF
- 19.28 lot acres
Current Use by Public Records
- Lily & Bloom / Hotel & Motel
Property Details for 501 Ocean Blvd
- Year built
- 1950
- Construction
- CONCRETE
- Lot size
- 19.28 lot acres
- Zone code
- TA8
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 444-08-01-0203
- APU
- 44408010203
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 2, 2025 | $2,300,000 | Boutique On The Beach LLC | Americana LLC | Warranty Deed | $1.7M · Anderson Brothers Bank |
| Jul 17, 2024 | — | 501 N Ocean Blvd LLC | — | Deed · related | $880k · South Atlantic Bank |
| Oct 24, 2022 | — | Americana LLC | — | Deed · related | $1.4M · United Community Bank |
| May 13, 2022 | $1,850,000 | Americana LLC | Mi Enterprises LLC | Warranty Deed | — |
| May 14, 2004 | $550,000 | Mi Entp LLC | Sunshine Prop Sc LLC | Grant Deed | — |
| Nov 12, 1999 | $1,023,000 | Sunshine Prop INC | — | Grant Deed · related | — |
| — | — | Mi Ents LLC | — | Deed Of Trust · related | $632k · Conway Nat'l Bk |
| — | — | Mi Ents LLC | — | Deed Of Trust · related | $634k · Conway Nat'l Bk |
Description
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,610,000
- ML approach
- $2,700,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,823,000
Market price range: $892k - $1.97M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $3,445,000
- AUTO REPAIR, GARAGE
- $2,265,000
- MEDICAL BUILDING
- $1,810,000
- APARTMENT HOUSE (5+ UNITS)
- $1,705,000
- OFFICE BUILDING
- $1,465,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.8839
- Latitude
- 33.6882
- CBSA code
- 34820
- CBSA name
- MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA
