ATLANTIC PALMS OCEANFRONT RESORT 703 South Ocean Boulevard Myrtle Beach, SC, 29577

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Alban Manning
5 years ago
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1 ATLANTIC PALMS OCEANFRONT RESORT 703 South Ocean Boulevard Myrtle Beach, SC, EXECUTIVE SUMMARY: Offered FOR SALE is the 3 Palms Oceanfront Resort. The 3 Palms, consists of 129 Rental Units and, is located in the Yaupon Circle Section of Myrtle Beach situated on the Oceanfront between 7th & 8th Avenues South. Each Rental Unit has its own Tax Map Parcel in preparation for a Conversion to a Condominium Regime. The property is in close proximity to Family Kingdom Amusement Park, Restaurants, Fishing Piers, Market Commons, Retail Shopping, and Entertainment Venues. The Hotel is comprised of one 8 story building with both interior and exterior corridor floors. There is a combination of on-site and off-site parking. NEIGHBORHOOD: Considered one of the nation's top vacation destinations Myrtle Beach hosts nearly 16 million visitors each year and offers an increasing number of attractions, live-music theaters, shopping centers, and more than 120 golf courses. REAL ESTATE: This assemblage is comprised of One (1) Oceanfront Lot with a Total Land Mass of approximately 25,350 SF and, Five (05) Second and Third Row Lots with a total land mass of approximately 57,735 SF. LOCATION DIMENSIONS ZONING TMS # PIN # LOT / BLOCK USE Oceanfront 75' x 338' MUH 130 TMS #s 130 PIN #s N/A Hotel 2 nd Row 64' x 150' MUH Lt 6, Bl 7 Surface Parking Lot 2 nd Row 75' x 153' MUH Lt 4, BL 7 Surface Parking Lot 2 nd Row 78' x 145' MUH Lt 1, Bl 6 Surface Parking Lot 2 nd Row 85' x 150' MUH Pt of LT 5, Bl 6 Surface Parking Lot 2 nd Row 85' x 150' MUH Lt 6 & Pt of 5, Bl 6 Surface Parking Lot (All of the Lot Measurements are Approximate and should be verified with a Survey) FUTURE CONVERSION: This Property has been Legally Subdivided to accommodate a Conversion to Condominiums or Timeshare in the future. Each Individual Rental Unit has been assigned an individual TMS and PIN number. ZONING: Mixed Use High Density (MU-H), City of Myrtle Beach, SC. OFFERING: FEE SIMPLE SALE AT: Twelve Million Seven Hundred and Fifty Thousand Dollars ($12,750,000) CONTACT: B.W. "Rusty" Helm Listing Agent Keystone Commercial Realty, LLC, has prepared this document in order to market the sale of the above assets. The information contained herein has been compiled from sources believed to be reliable, but is in no way warranted or guaranteed by Keystone. Anyone considering this real estate opportunity is specifically urged to perform his/her own investigation of the information contained herein th Avenue North, Suite G * Myrtle Beach, SC Tel: (843) * Fax: (843)

2 FACILITY SUMMARY Building Area: Main Building: (8 ) - Story Building: Approximately 94,500 Square Feet Room Type: Guest Rooms: (129)- Rooms in Current Configuration: OF1BRK Ocean Front 1 Bedroom King Suite (4) - Ocean Front One Bedroom King Suite Non-Smoking with (1) King Size Bed in a separate bedroom. Sleeps 2 people. OF2BRDEX OF2BREX OF2BRK OF3BRDKS OFJR2BRK OFKS S1BRDS S1BRKS Ocean Front 2 Bedroom Deluxe Executive Suite Ocean Front 2 Bedroom Executive Suite Ocean Front 2 Bedroom King Suite Ocean Front 3 Bedroom Deluxe King Suite Oceanfront 2 Bedroom Junior King Suite Ocean Front King Studio Efficiency Side 1 Bedroom Double Suite Side 1 Bedroom King Suite (2) - Oceanfront Two Bedroom Deluxe Executive King Suite Non- Smoking with (2) King Size Beds setup as One King bed in each of the two private bedrooms (2) - Oceanfront Two Bedroom Executive King Suite Non-Smoking with (2) King Size Beds setup as One King bed in each of the two private bedrooms (2) - Oceanfront Two Bedroom King Suite Non-Smoking with (1) King Size Bed in one private bedroom with ensuite bathroom and deep soaking tub. The other bedroom is equipped with (1) Full size bed. (2) - Oceanfront Three Bedroom Deluxe King Suite Non-Smoking with (3) King Size Bed (4) - Oceanfront Two Bedroom Junior King Suite Non-Smoking with (1) King Size Bed in one private bedroom with ensuite bathroom and separate entrance. The other bedroom is equipped with (1) Full size bed. (12) -Oceanfront King Studio Efficiency Non-Smoking with (1) King Size Bed and flat screen TV with HBO and ESPN included in the cable package. 400 square feet of space. Direct Ocean Front View Private Balcony. 5) - Side One Bedroom Double Suite Non-Smoking Non-View with (2) Double Beds in the separate bedroom and (1) Full Size Murphy Bed 600 square feet (14) - Side One Bedroom King Suite Non-Smoking Non-View with (1) King Size Bed in separate bedroom from common area. Flat screen TVs in both the bedroom and living room to include HBO and ESPN in the cable package. Separate living/dining area. S2BRKS Side 2 Bedroom King Suite (2) - Side Two Bedroom King Suite Non-Smoking with (2) King Size Suite setup as One King bed in each of the two private bedrooms and flat screen TVs in both bedrooms and the living room with HBO and ESPN included in the cable package.non-ocean View. SDS Side 2 Double Studio Efficiency (36) - Side Double Studio Efficiency Non-Smoking Non-View with (2) Double Beds SKS Side King Studio Efficiency NS (44) - Side King Studio Efficiency Non-Smoking Non-View with (1) King Size Bed and flat screen TV with HBO and ESPN included in the cable package. The studio also Includes a fully equipped efficiency kitchen with a full fridge, efficiency stove Corridors: (6) Interior / (2) Exterior Offices: (2) On main floor Lobby/Check In: Main Lobby with Concierge Service Outdoor Pool: (2) 1 Heated Exercise Room: Oceanfront-1 st Restaurant: (2) Oceanfront and Main Lobby- Leased Annually-Fully Equip Kitchen-2 Bars and Poolside Cabana Whirlpool Yes Lazy River Yes Commercial Laundry Facilities: (1) 70lb Washer / (3) 80lb Dryers Guest Laundry: Coin Operated Parking Spaces: 136 Garage: (16) -Spaces with Five (5) Handicapped Parking Lots 5 Second and Third Row Lots Elevators: (2) Thyssene Krupp / Cainder Maintenance contract HVAC / Guest Rooms: PTC HVAC / Common: Collectively 34 Tons of Split Systems Safety / Security: Fire Electronically Monitored Sprinkler System Backup Generator

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