Historical Hotel & Motel Sale Listing - Atlantic Palms Resort

Hotel & Motel For Sale

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Atlantic Palms Resort

703 s Ocean Blvd, Myrtle Beach, SC 29577

N/A

130 Rooms | Hotel & Motel

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Hotel / Motel - Off Market

Price:
N/A
No. Rooms:
130
Building Size:
92,000 SF
Property Type:
Hotel & Motel
Property Sub-type:
Economy/ Limited Service
Property Use Type:
Investment
Commission Split:
2%
No. Stories:
8
Year Built:
2007
Corridor:
Interior
Lot Size:
51,500 SF
Listing ID
15353370
Last Updated
over 1 year ago

Highlights

  • 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..

Description

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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