The Oceanfront Finest Western in Myrtle Seashore Lodge is formally on the market.
The property was owned for many years in Myrtle Seashore by Jack Robertson. Robertson offered the Myrtle Seashore Lodge just a few years previous. Now the latest homeowners have the property available on the market.
Chicago-based JLL introduced Oct. 24 that it’s providing the Finest Western Sandbar Lodge at 1804 S. Ocean Blvd. as a price easy deal, giving its new proprietor unrestricted management over the 1.29-acre property.
JLL has not listed the worth the Myrtle Seashore lodge is promoting for.
JLLs Motels & Hospitality Group, as sole and unique consultant of the Vendor, is happy to supply on the market the 121-room Sandbar Lodge, Trademark Assortment by Wyndham in Myrtle Seashore, South Carolina. Along with its unmatched beachfront location, the Lodge’s distinctive facilities embody a lazy river, in addition to indoor and out of doors swimming pools, offering the chance to seize demand year-round.
The 121-room, oceanfront Sandbar Lodge, situated on 1804 S Ocean Blvd, Myrtle Seashore, SC 29577, is being provided as fee-simple. Present possession injected over practically $1,000,000 in late 2022/early 2023, implementing each exterior and guestroom enhancements all through the conversion from its earlier Finest Western flag. The Lodge skilled sizable ADR development following the conversion, and presently locations #1 of 6 in its aggressive set with 110% ADR penetration as of T-12 July 2023. Whereas ADR efficiency has grown efficiently, the Lodge’s occupancy penetration stays below-market at 85% over the T-12, primarily as a result of rooms disruption throughout the renovation which started in August 2022. Nonetheless, the occupancy decline effected by the renovation presents materials upside for brand new possession in capturing future room evening demand.
The providing represents an impressive alternative to amass a just lately renovated, beachfront lodge with glorious proximity to not solely a plethora of leisure demand drivers however college, medical, and lots of different demand inducing drivers as properly. The Property’s instant entry and walkability to Myrtle Seashore, met with its accessibility to the city and its big selection of points of interest, present new possession with a beneficial alternative to amass a well-located asset with great upside in one of many nation’s most acknowledged locations.
|Sale Sort||Funding||Constructing Dimension||66,105 SF|
|Sale Circumstances||Public sale Sale||No. Rooms||121|
|Property Sort||Hospitality||No. Tales||6|
|Property Subtype||Lodge||Yr Constructed/Renovated||1970/2012|
|Constructing Class||B||Parking Ratio||8.23/1,000 SF|
|Lot Dimension||1.29 AC||Hall||Inside|
- Enterprise Middle
- Health Middle
- Excessive Pace Web Entry
- Seashore (direct entry)
- Public Entry Wifi
- Totally-Outfitted Kitchen