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Property profile & analytics
OFF-MARKET
Estimated value
$5,125,000
Hotels
5400 Ocean Blvd Myrtle Beach, SC 29577-2350
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US77-1612193
Property summary
AI-generated overview
The Mermaid Inn, a newly renovated oceanfront boutique hotel in Myrtle Beach, SC, presents a rare investment opportunity. This 57-key, 28,551 square foot property sits on a prime 1-acre oceanfront lot at 5400 N Ocean Blvd, 29577. Completely renovated in 2023, the three-story building boasts 102 beds and offers elegantly designed rooms, a pool deck, vending machines, and guest laundry facilities. Its location provides tranquil surroundings while remaining close to attractions and the airport. Currently operating and generating steady cash flow under third-party management, this stabilized investment offers immediate use or redevelopment potential due to its size and prime location. The property features unobstructed ocean views and represents a chance to own a piece of Myrtle Beach's coastline. Asking price is $6,490,000 ($227.31/sq ft). Built in 1971, the property's APN is 42115030095.
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1971
Construction
CONCRETE
Total area
28,551 SF
Lot
0.51 ac (22,050 SF)
Zoning code
TA8
APN
421-15-03-0095
UPID
US77-1612193
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
-
Mermaid Inn Hotel & Motel
-
Cherry Tree Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.17M
Blend (final)
Blend
$5.13M
Owner & transaction history
Americana LLC · 4 yrs held
Americana LLC
since 2022
Last sale
$4.9M
6 recorded transactions
Zoning & alternative use
TA8 · Myrtle Beach, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$8.1M
+25.0%
Office building
$7.0M
+7.4%
Restaurant
$6.6M
+1.8%
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
$6,920,000
ML approach
$6,960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$6,490,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,110,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$6,970,000
Change: +7% · Conversion: Difficult
RESTAURANT
$6,605,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$5.13M
Range $4.61M – $5.64M · ±10% · vs last sale $4.90M (Mar 17 2022)
Last sale anchor
$4.90M
Mar 17 2022
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
$180 / 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
$74,993
Tax year 2023
Assessed value
$153,150
Assessed 2023
Previous assessed
$153,150
+0.0% YoY
Effective rate
48.97%
On assessed value
Assessed land
$98,100
Assessed improvement
$55,050
Land market value
$1,635,000
Improvement market value
$917,500
Total market value
$2,552,500
Applied tax rate
880.0000
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
1971
Construction
CONCRETE
Heating
HOT WATER
Cooling
YES
Total area
28,551 SF
Lot
0.51 ac (22,050 SF)
Zoning code
TA8
APN
421-15-03-0095
UPID
US77-1612193
Jurisdiction
HORRY
Zoning & alternative use
TA8 · Myrtle Beach, SC
Zoning 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
Myrtle Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$6.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.1M
OFFICE BUILDING
Est. value
$7.0M
RESTAURANT
Est. value
$6.6M
HOTEL/MOTEL Current
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
1971
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Lot
0.51 ac
Current owner
From public records · entity-resolved
Americana LLC
Entity
Mailing address
PO BOX 2439, MYRTLE BEACH, SC 29578-2439
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2022
$4,900,000
Americana LLC
George Cut It INC
Warranty Deed
$4,248,380 · Conway National Bank
Sep 14, 2012
—
Linder Patricia M Trust
Linder Patricia M
Quit Claim Deed
related
—
Sep 14, 2012
$550,000
George Cut It INC
Linder Patricia M Trust
Grant Deed
related
$650,000 · Coastal Carolina National Bank
Jun 28, 2012
$662,154
George Cut It INC
Newbern,patricia P
Warranty Deed
related
—
Apr 14, 2004
$400,000
Charles D Linder
Jordan,r L
Grant Deed
related
—
—
—
George Cut It INC
—
Deed Of Trust
related
$100,000 · Patricia P Newbern
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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