An oceanfront North Myrtle Beach hotel is for sale. Here’s the asking price
Numerous Myrtle Beach area hotels went on sale on the website LoopNet in 2024. Many listed hotels opened in the mid-to-late 20th century, and another oceanfront property is available for investors.
Listed as both the Red Tree Inn and The Oasis Hotel, the 50-room property built in 1974 listed on LoopNet Nov. 18, 2024. The asking price for the hotel is nearly $7 million. Sara Mosseri is the real estate professional listing the property, but she did not provide a comment saying she needed to consult with the property owner first.
The property was also recently sold. According to Horry County Land Records, the property sold for $5.1 million in June 2023. Indeed, hotels and the oceanfront real estate they reside on are attractive investments.
Scott Smith is associate director of the School of Hospitality and Tourism Management at the University of South Carolina. He said the 2024 real estate market is favorable for selling a hotel, which many companies view as an investment asset.
“People might just be trying to cash out on hotels right now,” Smith added.
