Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Ocean Blvd Myrtle Beach, SC 29577

    • Hotels
    • 353,096 SF
    • 50.96 lot acres
    OFF-MARKET
    Last Sale
    Apr 27, 2023
    Value Estimations
    $39,755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2031201
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for Ocean Blvd

    Year built
    2015
    Construction
    CONCRETE
    Lot size
    50.96 lot acres
    Property size
    353,096 SF
    Zone code
    TA8
    Property type
    Hotels
    Property subtype
    Motels
    APN
    424-15-02-0214
    APU
    42415020214

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $37,735,000
      6.5%
      $34,835,000
      7%
      $32,345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $41,611,000
      Market price range: $14.6M - $71.2M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.8691
    Latitude
    33.7015
    CBSA code
    34820
    CBSA name
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $543,182
    $135,378
    $1,852,843
    $1,988,221
    -
    $2,419,800
    $69,169,200
    $71,589,000

    Comparable in this City

    • Value Estimation by Request
      8,592 SF

      509 Ocean Blvd

      Motels • 8,592 SF
      509 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $3,515,000
      23,695 SF

      1005 Ocean Blvd

      HOTEL/MOTEL • 23,695 SF
      1005 Ocean Blvd, Myrtle Beach, SC 29577-4441
      View Details
    • Value Estimation
      $3,160,000
      35,808 SF

      101 Ocean Blvd

      HOTEL/MOTEL • 35,808 SF
      101 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • Value Estimation
      $1,015,000
      5,127 SF

      210 Ocean Blvd

      HOTEL/MOTEL • 5,127 SF
      210 Ocean Blvd, Myrtle Beach, SC 29577-4044
      View Details
    • Value Estimation
      $540,000
      6,240 SF

      308 7th N Ave

      HOTEL/MOTEL • 6,240 SF
      308 7th N Ave, Myrtle Beach, SC 29577-3767
      View Details
    • Value Estimation by Request
      2,403 SF

      1420 Carver St

      HOTEL/MOTEL • 2,403 SF
      1420 Carver St, Myrtle Beach, SC 29577-3309
      View Details

    Similar Nearby for Sale

    • $2,640,000
      8,592 SF

      Oceanfront Myrtle Beach Hotel

      Prime location, 24-unit hotel, turnkey operation.
      509 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $6,290,000
      24,617 SF

      Oceanfront Myrtle Beach Hotel

      Luxury 63-unit hotel, turnkey operation
      507 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $219,900
      711 SF

      Updated Condo with Ocean Views

      Updated 1-bedroom condo with ocean views and resort amenities.
      2501 S Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • $4,290,000
      17,210 SF

      Oceanfront Hotel - Myrtle Beach

      Turnkey Hotel, 39 Units, Ocean Views
      507 Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      360 SF

      Landmark Resort Efficiency Condo

      Oceanfront condo with resort amenities and income potential.
      1501 S Ocean Blvd, Myrtle Beach, SC 29577
      View Details
    • New
      $4,995,000
      22,442 SF

      Myrtle Beach Hospitality Investment Opportunity

      60-door hospitality property on 0.83-acre corner lot.
      806 S Ocean Blvd, Myrtle Beach, SC 29577
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Remodeled Myrtle Beach End Unit

      Remodeled, furnished end unit near the beach available for short-term rental.
      4860 Carnation Cir, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing
      142,722 SF

      Myrtle Beach Retail Space For Lease

      Large Single-Tenant Retail Building in SC
      1200 Coastal Grand Cir, Myrtle Beach, SC 29577
      View Details
    • $12 SF/Yr
      14,038 SF

      Myrtle Beach Industrial Space Available

      Class A industrial space in Myrtle Beach's North Industrial Park.
      1330 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • Contact for pricing

      Industrial Facility Near Myrtle Beach Airport

      Well-maintained industrial building with warehouse and office space near airport.
      1410 17Th Ave S, Myrtle Beach, SC 29577
      View Details
    • $26 SF/Yr
      1,833 SF

      Myrtle Beach Medical Office Suite

      1833 SF Turnkey Medical Office, Myrtle Beach
      1240 21St Ave, Myrtle Beach, SC 29577
      View Details
    • $1.46 SF/Yr

      Land For Rent Myrtle Beach

      Land available for rent in Myrtle Beach, South Carolina.
      912 Todd St, Myrtle Beach, SC 29577
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Ocean Blvd
    Myrtle Beach, SC 29577
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!