507 Ocean Blvd N, Myrtle Beach, SC 29577
- Hotels
- 13,428 SF
- 0.19 lot acres
Current Use by Public Records
- Happy Holiday Motel / Hotel & Motel
- FIFTH AND OCEAN / Hotel & Motel
Property Details for 507 Ocean Blvd N
- Year built
- 1968
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.19 lot acres
- Zone code
- TA8
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 444-08-01-0202
- APU
- 44408010202
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 20, 2022 | $1,050,000 | Americana LLC | Dawn LLC | Warranty Deed | — |
| Sep 19, 2022 | — | Americana LLC | Shelby B Singleton | Warranty Deed | $3M · Conway National Bank |
| Jun 2, 2014 | — | Ans Two LLC | Alma N Singleton | Quit Claim Deed · related | — |
| May 2, 2014 | — | Sbs Two LLC | Shelby B Singleton | Grant Deed · related | — |
| Apr 15, 2014 | — | Shelby B Singleton | Lisa S Hammerman | Quit Claim Deed · related | — |
Description
This exceptional 63-unit hotel, located at 507-509 Ocean Blvd. N in Myrtle Beach, South Carolina, presents a lucrative investment opportunity. Boasting a prime oceanfront location, this newly renovated property offers a modern and stylish design, complete with custom showers and updated amenities throughout. The comprehensive 2023-2024 renovation encompassed all aspects of the building, including a complete electrical and plumbing overhaul, new HVAC systems, a new roof, updated flooring, renovated bathrooms, and brand new furniture, blinds, appliances, and televisions. The exterior and interior have received fresh paint, and the property features a new sign, lobby, and parking area. Common areas, including the pool, were also updated in 2024. This turnkey operation includes a convenient on-site commercial laundry facility and ample storage space. With 24,617 square feet on a 0.63-acre lot, the hotel is zoned MU-H and features four stories. The property opened for business in April 2024 and is offered at $6,290,000 ($284.72 per square foot). Its proximity to popular attractions like the Sky Wheel adds to its appeal. This is a rare chance to acquire a fully operational, modern hotel in a highly desirable location. The property's APN is 44408010201
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $770,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,435,000
- 6.5%
- $1,325,000
- 7%
- $1,230,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,388,000
Market price range: $554k - $2.71M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.8837
- Latitude
- 33.6884
- CBSA code
- 34820
- CBSA name
- MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA
