509 Ocean BlvdMyrtle Beach, SC 29577

Property Details for 509 Ocean Blvd

Lot size

0.22 AC

Property size (Sq ft)

8,592 SF

Property type

Hospitality properties

Property subtype

Motels

Description

This exceptional 24-unit hotel, located at 509 Ocean Blvd. N in Myrtle Beach, South Carolina, presents a lucrative investment opportunity. Boasting 8,592 square feet on a 0.22-acre lot (APN 44408010201), this four-story property underwent a complete renovation in 2024, resulting in a brand-new, turnkey operation. All aspects of the hotel are new, including electrical rewiring, plumbing, HVAC units, roof, flooring, bathrooms, furniture, blinds, appliances, TVs, exterior and interior paint, signage, lobby, and parking. The pool and common areas were also completely redone in 2024. The hotel features a modern design and decor, custom showers, and a commercial laundry facility on-site. Multiple storage areas add to the property's functionality. Opened for business in April 2024, this hotel is conveniently situated within walking distance of the Sky Wheel and directly across from the beach, benefiting from its prime oceanfront location. The property is zoned MU-H. An adjacent property with an additional 39 units is optionally available for purchase. This turnkey operation offers immediate income potential and significant upside. The asking price is $2,640,000, translating to $528 per square foot. The estimated road frontage is 158 feet.

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.6884

Longitude

-78.8833

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