Java East Motel 29 Unit Oceanfront Motel 1502 North Ocean Boulevard Myrtle Beach, SC 29577

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1 B ANK O WNED Java East Motel 29 Unit Oceanfront Motel 1502 North Ocean Boulevard Myrtle Beach, SC B ULL R EALTY, I NC. Keystone Commercial Realty B.W. Rusty Helm x th Avenue North, Suite G Myrtle Beach, SC bwhelm@keystonecommercial.com Page of 17 Bull Realty, Inc. Rob Whitmire x Piedmont Ave Atlanta, GA Rob@BullRealty.com

2 Table of Contents Java East Motel Myrtle Beach, SC Index Page Property Details 3 Aerial Images 4 Location Maps 5 Improvements Description & Analysis 6 12 Zoning Area Information 17 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. Page 2 of 17

3 Property Details OFFERED FOR SALE is the Java East Motel. The Java East is a 29 unit oceanfront motel which is located in Myrtle Beach, SC. The property is conveniently located within walking distance to Pier 14, the former Myrtle Beach Pavilion Area, the Myrtle Beach Library and Chapin Park. REAL ESTATE: The subject Property is comprised of one oceanfront lot which is rectangular in shape and measures feet in width and feet in depth. The Property is identified as TMS# The property has 20 public alleyways on both the north and south sides. See attached property outline. IMPROVEMENTS: The property is improved with a concrete low rise motel which was constructed in The structure is in need of renovations and the case goods will need to be replaced. The oceanfront portion of the building is 4 stories, while the ocean view portion is 3 stories. There are a total of 29 Guest Rooms, with 15 units directly on the oceanfront and 14 units enjoy an ocean view. The structure has stone veneer, concrete railings, flat roof and exterior corridors. There is an oceanfront pool (3 8 ) with concrete deck. See attached footprints. ZONING AND DEVELOPMENT OPPORUNITY: The Property is currently zoned TA80 (Transient Accommodation District) and falls under the jurisdiction of the City of Myrtle Beach. The Property also lies within the Alley Swap District of Myrtle Beach. This district allows the combining of oceanfront lots which encourages assemblage for future development. The neighboring properties on both sides are also older low rise properties providing possible assemblage in the future. See attached zoning ordinance. OFFERING: One Million Two Hundred and Forty Thousand Dollars ($1,240,000) Page 3 of 17

4 Page 4 of 17 Aerial Images

5 Page 5 of 17 Location Maps

6 Improvements Description & Analysis Drawing is not to scale and is for illustration purposes only. Page 6 of 17

7 Improvements Description & Analysis Drawing is not to scale and is for illustration purposes only. Page 7 of 17

8 Improvements Description & Analysis Drawing is not to scale and is for illustration purposes only. Page 8 of 17

9 Improvements Description & Analysis Drawing is not to scale and is for illustration purposes only. Page 9 of 17

10 Improvements Description & Analysis Drawing is not to scale and is for illustration purposes only. Page 10 of 17

11 Improvements Description & Analysis Drawing is not to scale and is for illustration purposes only. Page 11 of 17

12 Improvements Description & Analysis Drawing is not to scale and is for illustration purposes only. Page 12 of 17

13 Page 13 of 17 Zoning TA 80

14 Page 14 of 17 Zoning TA 80

15 Page 15 of 17 Zoning TA 80

16 Page 16 of 17 Zoning TA 80

17 Area Information: Myrtle Beach 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 campground. 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 temperatures. 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. 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, reunions, motorcoach and sports groups. The charm and hospitality of Myrtle Beach past come together with modern 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. Page 17 of 17