A hotel near the ocean in Myrtle Beach is now for sale. Here is the asking price

Within a short walk to the ocean along 5th Avenue North in Myrtle Beach sits the Lily & Bloom hotel at 501 North Ocean Blvd.

Horry County Land Records states that the hotel was built in 1950, and the Lily & Bloom still retains the aesthetic of mid-century hotel and motel design , with long patios connecting each room and pastel blue front doors facing the ocean.

This 26-room hotel, which was completely overhauled and renovated in 2023, is for sale for $2.59 million, according to a posting on the commercial real estate marketplace website LoopNet. The property first went on the market on July 30, 2024, and listed agent Amir Tal, managing director at Capital Property Partners and BH Capital Advisors , the property received much interest, and a deal could be closed in the next couple of months.

According to Horry County Land Records, the property last sold for about $1.9 million in 2022. Tal said the current owners performed a total renovation of the property, as prior owners had allowed the hotel to fall into disrepair. Now, Tal says the property’s a small, boutique hotel with a more intimate experience.

The Lily & Bloom isn’t the only hotel to recently be sold or put up for sale. In February 2024, a Los Angeles-based investment firm purchased The Yachtsman Resort at 1304 North Ocean Blvd. Three Myrtle Beach hotels went on sale in November 2023 , including the 300 Tenth, Coral Sands, Sea Gypsy and Mystic Sea properties.

Meanwhile, new hotels might be coming to the Grand Strand area. In addition to planned hotels in downtown Myrtle Beach and the former Inlet Square Mall site , a LoopNet listing in the Grande Dunes area alleges a new hotel featuring 90 or 120 rooms could open near the US Foods Chef’s Store at 970 Cipriana Drive.