| Name |
Blue Bay Resort Myrtle Beach |
|
| Location |
Myrtle Beach, SC (map) |
| Number of Rooms |
57 (including 5 whirlpool suites and 3 2-bedroom suites) |
| Asking Price |
$2,100,000 |
| Price/Room |
$36,842 |
| Ownership |
Fee Simple |
| Investment Highlights |
Fee simple asset located 1 block from the beach just north of downtown Myrtle Beach
Ideal limited service / condominium scenario with positioning options
Offered at less than 60% of replacement cost
Unencumbered by management
|
| Property Overview |
The Blue Bay Resort is a fee simple, interior corridor high-rise building (11 stories) with 57 guestrooms including 49 Double/Double, 5 whirlpool suites, and 3 2-bedroom suites located on a corner lot. The property is constructed of block/concrete and is situated between 12th Avenue and 14th Avenue on Withers Drive 1 block from North Ocean Boulevard and the Atlantic Ocean. Amenities include high-speed internet access, guest laundry, heated indoor pool and Jacuzzi, and a new sprinkler system. Approximately 45% of the guestrooms feature ocean views. The hotel is located within close proximity to the area’s leisure and corporate demand generators including more than 120 golf courses, shopping areas, Broadway at the Beach, the Myrtle Beach Convention Center, “downtown” Myrtle Beach, and the Myrtle Beach International Airport. Repositioning options could include Quality Inn, Motel 6, or Red Roof Inn. 5-Year leveraged returns exceed 30%!
Myrtle Beach is considered one of the nation’s top vacation destinations, especially for families, and hosts nearly 14 million visitors each year. It offers the infrastructure and facilities to accommodate a wide variety of needs from the individual traveler to the national conventioneer. Over 60% of all overnight travelers originate in the Southeastern U.S. and the average length of stay is 2.6 nights for business travelers and 5.3 nights for leisure travelers. Approximately 80% of all overnight stays are at least four nights or more. Overall, Myrtle Beach is a well-established tourism center and is expected to continue in this role for many years to come.
|
| |
 |
|
|
Photos
Additional Information
To download this information, please fill out the following information. All fields are required.
|
