For Sale
$2,590,000

501 Ocean BlvdMyrtle Beach, SC 29577

Oceanfront, 26-key, renovated hotel

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Fully stabilized investment opportunity.
  • Direct beach access with professional management.
  • Completely renovated in 2022.
  • Features an outdoor swimming pool.
  • High pedestrian traffic.
  • 2022 complete renovation.

Property Details for 501 Ocean Blvd

Property type
Hospitality properties, Hotels
Square Feet
6,008 SF
Year Built/Renovated
1960/2022
Buildings
1
Stories
2

Location Insight

City
Myrtle Beach
County
Horry
State
South Carolina
Latitude
33.687914215387
Longitude
-78.883739130701
501 Ocean Blvd, Myrtle Beach, South Carolina

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501 Ocean Blvd
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