This Hotel & Motel Property is Off-Market.

1755 Hwy 17 N
North Myrtle Beach, SC 29582 ·

60 Rooms · Hotel & Motel For Sale

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Comfort Inn North Myrtle Beach

Price N/A Average Daily Rate $80
No. Rooms 60 RevPAR $4,441
Building Size 28,280 SF No. Stories 2
Property Type Hotel & Motel Year Built 1996
Property Sub-type Economy/Limited Service Corridor Interior
Property Use Type Investment Lot Size 1.84 AC
Cap Rate 13.10%
Listing ID: 19613214 Date Created: 01/29/2016 Last Updated: 06/23/2016

Description

The 60-room Comfort Inn North Myrtle Beach has an excellent location. North Myrtle Beach, SC is situated in the center of a 60-mile continuous stretch of beach known as the Grand Strand and the area attracts over 14 million visitors annually to its beautiful beaches, excellent restaurants, golf courses, shopping, and world-class entertainment. The Myrtle Beach oceanfront and tourist attractions, the healthcare sector, and Coastal Carolina University serve as stable sources of lodging demand in this area.
Hotel amenities include a seasonal outdoor pool, sun deck, fitness center, business center, guest laundry, and 2 outdoor grills. The hotel is in very good condition and just completed a major renovation to all the guest bathrooms. There is a great selection of restaurants in the immediate area, Outback Steakhouse and K&W Cafeteria are located adjacent to the Hotel.

HIGHLIGHTS
- 60-Unit, Two-story, Interior Corridor
- Well located on US-17, near major area attractions and local beaches.
- Well-Maintained Facility with over $400,000 ($6,700/room) in Recent Renovations
- Branding options include conversion to Red Roof Inn, Country Inn & Suites, Days Inn, and Baymont.

The Comfort Inn North Myrtle Beach is well located off US- 17. The North Myrtle Beach Park and Sports Complex is a very large room night demand generator in the area. The Comfort Inn is one of the closest hotels, and is located less then 5 miles from the facility. This new state-of-the-art sports park encompasses 163 acres as well as a 25-acre lake.

The hotel is also within a short distance of other major area attractions, which include local beaches, the Alabama Theatre, Barefoot Landing, Carolina Opry, House of Blues, and the SunCruz Casino.

ATTRACTIONS
Myrtle Beach' s #1 attraction is sixty miles of beach across twelve cities. US News & World Report ranked Myrtle Beach 4th in its Top 10 Best Family Beach Vacations , TripAdvisor ranks it in its Top 25 Destinations - United States , and South¬ern Living readers named it a Favorite Beach Town . North Myrtle Beach, located in Horry County, SC, is situated in the center of a 60-mile continuous stretch of beach known as the Grand Strand. In addition to the beach, the area offers numerous other activities, including golf, entertainment and shopping. Special events also play a role during key weekends and Spring Break.

Highlights

  • The current financing is very attractive and is assumable to qualifying providing a low equity entry opportunity ($2.0m loan / 4.5% fixed rate / 2022)
  • Hotel' s ADR increased over 17% during past 24 months.
  • Branding options include conversion to Red Roof Inn, Country Inn & Suites, Days Inn, and Baymont.
  • Priced at 2.8 times Gross Room Revenue and offered at a Substantial Discount to Replacement Cost.
  • Attractive owner/operator opportunity with upside potential in top-line growth, expense management, as well as operational efficiencies.

Research

1755 Hwy 17 N, North Myrtle Beach, SC 29582 (Horry County)

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