Sportsman Motor Inn Packages3.amazonaws.com/loa.data/inv/942776/Sportsman... · OFFERED FOR SALE is...

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BANK OWNED

The Sportsman Motor Inn 25‐Unit Oceanfront Motel

1405 South Ocean Boulevard | Myrtle Beach, SC 29577

BULL R

EALT

Y, IN

C.

Keystone Commercial Realty

B.W. “Rusty” Helm

843.626.3400 x24

608 16th Avenue North, Suite G

Myrtle Beach, SC 29557

[email protected]

Bull Realty, Inc.

Rob Whitmire

404.876.1640 x128

1801 Piedmont Ave

Atlanta, GA 30324

[email protected]

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The Sportsman Motor Inn Myrtle Beach, SC

Table of Contents

Any included income, expenses, cap rates, costs, return estimates, renovations, measurements, square footage, acreage, projections, interest rates, loan terms, property condition, possible uses, zoning and other information herein may have been

provided by the seller, landlord or other outside sources and while deemed to be reliable, may be estimated, projected, is subject to change, and/or may be limited in scope, and therefore shall not be relied upon as accurate. Any such information important to the

purchaser, lessee or other parties should be independently confirmed within an applicable due diligence period. Please do not disturb the management, business, tenants or sellers. This offer is subject to prior change or sale without notice.

Index Page

Property Details 3

Aerial Images 4

Location Maps 5

Improvements Description & Analysis 6‐12

Zoning 13‐16

Area Information 17

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Property Details

OFFERED FOR SALE is the Sportsman Motor Inn. The Sportsman is a 25 unit oceanfront motel which is located in Myr‐tle Beach, SC. The property is located on the south end of Myrtle Beach conveniently located close to the Myrtle Beach Airport and within walking distance to Family Kingdom Amusement Park and Springmaid Pier. REAL ESTATE: The subject property is comprised of one oceanfront lot which is irregular in shape and measures approximately 88.50 feet in width and 358.45 feet in depth, for a total area of 31,811SF (0.73 Acres). The Property is identified as TMS# 187‐01‐06‐014. See attached property outline. IMPROVEMENTS: The property is improved with 2 concrete low rise structures which were constructed in 1966. The structures are in need of renovations and the case‐goods will need to be replaced. The oceanfront structure is 4 stories, while the ocean‐view and office structure is 3 stories. There are a total of 25 Guest Rooms, with 20 units directly on the ocean‐front, and 5 units enjoy an ocean‐view. The structure is concrete block, concrete railings, flat roof and exterior corri‐dors. There is an oceanfront pool (3’‐9’), a small “kiddie pool” and a large concrete deck. See attached footprints. ZONING AND DEVELOPMENT OPPORTUNITY: The Property is currently zoned TA80—(Transient Accommodation District) and falls under the jurisdiction of the City of Myrtle Beach. Oceanfront lots in this area of the beach are exceptionally deep, allowing for greater density when rede‐veloped. The property is poised for assemblage and redevelopment. The property to the north is also an older low‐rise motel, while the property immediately to the south is currently used as a surface parking lot for a high rise motel conversion. See attached zoning ordinance. OFFERING: Two Million Six Hundred and Ninety Thousand Dollars ($2,690,000)

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Aerial Images

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Location Maps

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Improvements Description & Analysis

Drawing is not to scale and is for illustration purposes only.

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Zoning—TA‐80

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Area Information: Myrtle Beach

With 14 million visitors to the Myrtle Beach area annually, it seems that everyone knows about the area's spectacular beaches, challenging golf courses and fresh local seafood. But group planners are quickly learning that these features and many others have helped to evolve this popular vacation destination into a premier location for meetings, conventions, re‐unions, motorcoach and sports groups.

The charm and hospitality of Myrtle Beach past come together with mod‐ern and new to give you the new Grand Strand. Peruse our site to learn more about the many area hotels and attractions that welcome group business into their doors. Once you find that Myrtle Beach truly has something for everyone, contact our staff for assistance in planning the perfect event in the most practical destination.

Area Information The Myrtle Beach area, also known as the Grand Strand, is located on the southeast coast of the United States in sunny South Carolina. As one of the premier family and beach vacation destinations in the United States, Myrtle Beach offers an endless array of lodging options including resorts, hotels, beach homes, vacation rentals and camp‐ground. With endless attractions, events and dining options, Myrtle Beach, South Carolina is a perfect destination for family vacations, getaways for couples of all ages, group and business travel.

Area History With a legendary history dating back centuries to the region's first inhabitants, the Waccamaw and Winyah Indians, learn more about the early days of Myrtle Beach and stories of roaming ghosts and famous pirates.

The Weather One of the greatest assets of the Myrtle Beach area, the weather offers mild winters and bearable summer tem‐peratures. With an average high of 57° in the coldest month of January, and an average high of 90° in the hottest month of July, it is rarely too cold, or too hot to enjoy everything Myrtle Beach offers.

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