Updated Oct 29, 2024
MBSC Property LLC Acquires Hotel On 1802 North Ocean Blvd In Myrtle Beach, SC For $15.3M
1802 North Ocean Blvd, Myrtle Beach, SC 29575, USA
$15,300,000
Building Size
—
Asset Type
Hotel
Closing
Dec 1, 2022
About this deal
AI
The property at 1802 North Ocean Blvd in Myrtle Beach, SC has been sold. This property is a hotel, consisting of 240 keys. The sale took place on 12/01/2022, and the buyer is MBSC Property LLC, while the seller is Airport Properties Inc. The transaction was completed for a total sale price of $15,300,000, with an average price per key of $63,750.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $15,300,000
- Address: 1802 North Ocean Blvd, Myrtle Beach, SC
- Market: Myrtle Beach, SC
- Buyer: MBSC Property LLC
- Seller: Airport Properties Inc
- Keys: 240
- Price Per Key: $63,750
The successful completion of this sale involved the buyer, MBSC Property LLC, and the seller, Airport Properties Inc. The hotel property, located at 1802 North Ocean Blvd in Myrtle Beach, SC, offers a prime location in a desirable market. The transaction showcases the continued investment and growth in the hospitality industry in Myrtle Beach.
Players
Myrtle Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93