806 Ocean BlvdMyrtle Beach, SC 29577

Property Details for 806 Ocean Blvd

Year built

1966

Construction

CONCRETE

Lot size

0.58 AC

Property size (Sq ft)

22,442 SF

Zone code

TA1

Property type

Hotels

Property subtype

Motels

APN

443-11-03-0054

APU

44311030054

Description

Exceptional investment opportunity: a 60-unit oceanfront hotel in Myrtle Beach, South Carolina, is available for $5,990,000. This three-story, 24,530-square-foot property sits on a 0.83-acre corner lot at 806 S Ocean Blvd, offering stunning ocean views across from the beach. Built with concrete and steel construction, the hotel boasts an in-ground pool, lobby area, ample parking, and a commercial laundry facility, along with multiple storage areas. All furniture and fixtures are included in the sale, making this a true turnkey operation. The high-traffic location places the hotel within easy walking distance of the Myrtle Beach boardwalk, Ferris wheel, pier, shopping, dining, and Family Kingdom amusement park. The property is currently zoned commercial but has the potential for conversion to multifamily housing, subject to City of Myrtle Beach approvals. Recent improvements include a new roof and $250,000 in renovations completed in 2023. With some adjustments, long-term rentals may be permitted, per the City of Myrtle Beach and seller. This is a rare opportunity to acquire a well-maintained, high-performing hotel in a prime location. Financial information is available upon request. The APN is 44311030054.

• CAP approach

  CAP return

  Valuation

  6%

  $4,477,606

  6.5%

  $4,133,175

  7%

  $3,837,948

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,536,881

  Geo Method

  $12,105,641

• Alternative Use

  Use

  Valuation

  Residential

  $4,512,226

  Hospitality

  $4,133,175

  Educational

  $3,438,753

  Medical

  $3,557,017

  Retail

  $5,349,172

Location Insight

City

Myrtle Beach

County

Horry

State

South Carolina

Latitude

33.6788

Longitude

-78.8964

CBSA code

34820

CBSA name

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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