The Oceanfront Best Western Myrtle Beach Hotel is officially for sale.
The property was owned for decades in Myrtle Beach by Jack Robertson. Robertson sold the Myrtle Beach Hotel a few years past. Now the most recent owners have the property on the market.
Chicago-based JLL announced Oct. 24 that it is offering the Best Western Sandbar Hotel at 1804 S. Ocean Blvd. as a fee simple deal, giving its new owner unrestricted control over the 1.29-acre property.
JLL has not listed the price the Myrtle Beach hotel is selling for.
EXECUTIVE SUMMARY
JLLs Hotels & Hospitality Group, as sole and exclusive representative of the Seller, is pleased to offer for sale the 121-room Sandbar Hotel, Trademark Collection by Wyndham in Myrtle Beach, South Carolina. In addition to its unmatched beachfront location, the Hotel’s unique amenities include a lazy river, as well as indoor and outdoor pools, providing the opportunity to capture demand year-round.
The 121-room, oceanfront Sandbar Hotel, located on 1804 S Ocean Blvd, Myrtle Beach, SC 29577, is being offered as fee-simple. Current ownership injected over nearly $1,000,000 in late 2022/early 2023, implementing both exterior and guestroom improvements throughout the conversion from its previous Best Western flag. The Hotel experienced sizable ADR growth following the conversion, and currently places #1 of 6 in its competitive set with 110% ADR penetration as of T-12 July 2023. While ADR performance has grown successfully, the Hotel’s occupancy penetration remains below-market at 85% over the T-12, mainly due to rooms disruption during the renovation which began in August 2022. Nonetheless, the occupancy decline effected by the renovation presents material upside for new ownership in capturing future room night demand.
The offering represents an outstanding opportunity to acquire a recently renovated, beachfront hotel with excellent proximity to not only a plethora of leisure demand drivers but university, medical, and many other demand inducing drivers as well. The Property’s immediate access and walkability to Myrtle Beach, met with its accessibility to the town and its wide range of attractions, provide new ownership with a valuable opportunity to acquire a well-located asset with tremendous upside in one of the nation’s most recognized destinations.
PROPERTY FACTS
| Sale Type | Investment | Building Size | 66,105 SF |
| Sale Conditions | Auction Sale | No. Rooms | 121 |
| Property Type | Hospitality | No. Stories | 6 |
| Property Subtype | Hotel | Year Built/Renovated | 1970/2012 |
| Building Class | B | Parking Ratio | 8.23/1,000 SF |
| Lot Size | 1.29 AC | Corridor | Interior |
AMENITIES
- Balcony
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Beach (direct access)
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen