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Atlantic Palms Resort
703 s Ocean Blvd, Myrtle Beach, SC 29577
130 Rooms | Hotel & Motel
Hotel / Motel - Off Market
- No. Rooms:
- Building Size:
- 92,000 SF
- Property Type:
- Hotel & Motel
- Property Sub-type:
- Economy/ Limited Service
- Property Use Type:
- Commission Split:
- No. Stories:
- Year Built:
- Lot Size:
- 51,500 SF
- Listing ID
- Last Updated
- over 1 year ago
- Anticipated Gross Revenues, 3,000,000-$4,000,000 Annually!!
- Management Contract Conveys with complete Property Purchase.
- Property includes 4 lots accross from facility for future building of project.
- Plans approved for future expansion. w/parking deck on 5 lot, convey w/purchase..
This Condo Hotel has been closed down for the last three years, has been completely gutted, 2 floors added, and is now an 8 floor, fully refurbished Condo Hotel Oceanfront location. Property boasts efficiency units, 1 & 2 bedroom units, indoor/outdoor and kiddie pool, and a Lazy River. Cabanas will be available at poolside. Property has an exercise room, meeting room, and plans are being made for an ice cream shop and convenience item store.
Property is located on Ocean Blvd., in close proximity to some of the favored attractions that Myrtle Beach has to offer, including restaurants, amusement parks, Broadway at the Beach , and of course, just inches away from the ocean.
Project is 70% pre-sold. 90 units have been sold @ pre-construction,and is go to settlement. under the direction of the current owner. Approximately 38 units remain to be sold. Current owner will settle and collect on pre-sold units. New owner will sell and close remaining units.
In addition, this unique package contains four lots across the street from the existing unit, w/approved plans and entitlements for two additional towers with parking deck that will service all three towers.
Ocean Blvd, S
Map of 703 s Ocean Blvd, Myrtle Beach, SC 29577 (Horry County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO