Real estate around Hard Rock Park fetching big dollars

Posted Wednesday, October 3, 2007 9:28 AM | Contributed by Jeff

Values for land and redevelopment property around the new Hard Rock Park in Myrtle Beach have been quickly rising, agents say. Construction on the 140-acre, $400 million park started a little more than a year ago. The theme park is set to open in the spring.

Read more from The Sun-News.

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Wednesday, October 3, 2007 10:00 AM
The real extate around Hard Rock is all 5000 site campgrounds. Unless a owner really is seeking quick cash. They are Multi million dollar properties already.

Chuck

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Wednesday, October 3, 2007 11:04 AM
I'm really excited to see how Hard Rock Park is going to turns out. It seems like it looks like a great park.
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Wednesday, October 3, 2007 12:27 PM
The property is worth a whole lot more as virtually anything else, Chuck. How long does it take for one acre of campground to generate $800,000?
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Wednesday, October 3, 2007 12:38 PM
The next question is, how long before the land it sits on becomes too valuable for Hard Rock Park to occupy it?
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Wednesday, October 3, 2007 1:03 PM
Wow, the park hasn't even opened, and the discussion turns to how long it will last? lol

Reminds me of all the naysayers on here that find a reason to bash every new coaster's statistics and layout that is announced before it's even built.

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Wednesday, October 3, 2007 3:01 PM
Volleyguy,

It seems to me to be pretty obvious that Bogeyman's comment was sarcasm. Unless he didn't understand the fact that real estate prices were rising as a result of the park being there.

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Wednesday, October 3, 2007 3:51 PM
The issue of taxes is certainly a good discussion point. I hear it was one of the biggest obstacles to profitability for Geauga Lake. However, this park appears well financed with long term goals in mind, in the middle of what is already a huge tourist area.
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Wednesday, October 3, 2007 4:15 PM
The property Hard Rock sits on is the same property MAGIC Harbor and a another park previous to that. I think Pirates Cove is. The property is next to the Lakeshore Campground and back in the 80s you used to get a free admission for a weeks stay in the campground.

Was a fun little park but I got the feeling the campgrounds provided all the attendance the place got. Also one of our crew got a broken leg while running through the grass and hit a hole that aparently a sign or post used to reside in. The park had a rotor and a galaxi that I can remember. The Roter we were allowed to turn around, Ride upside down and they'd warn you to right yourself about 30seconds before they slowed it.

Chuck

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Wednesday, October 3, 2007 4:19 PM
Jeff, The property depends mainly on saturation. There were timeshares a couple of campgrounds down that apeared to be half empty. This easily could have changed since my last visit.

A campsite could genrate about 40 grand a year. How many campsites in a ACRE? Probably 50. Short term, ANything else yeah. But over 20 years that campground will make you leaps and bounds more denero.

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Wednesday, October 3, 2007 4:27 PM
Today the land is worth more because the park is going in. As TimmyD said, my sarcastic view. Didn't there used to be another amusement park in Myrtle Beach whose land got to be worth more than the park?..
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Wednesday, October 3, 2007 6:31 PM
Forty grand a year? That's $109 a day! What campground charges that?

A couple of acres can support a whole of room that you can charge $200 a night for. That's not hard math.

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Wednesday, October 3, 2007 9:22 PM
I do not know where Mr. Nungester gets his info but he is all wrong. Hard Rock Park is being built on US 501 on the mainland of South Carolina where the old Waccamaw Pottery was and is in fact using the old Waccamaw Potter Outlet Mall building. It is most definitely not surrounded by campsites, it is surrounded by Medieval Times, the Inter coastal Waterway, the MBSC Airport across the waterway, and Tanger Outlet.

Magic Harbor is, according to rcdb.com, 4 miles away (longer to drive it) in Surfside, SC, on the Inlet (not the mainland), and is now a campsite.

The Following link shows how far Magic Harbor is to Hard Rock Park. The land around Hard Rock Park is in current major development, with a semi-large airport, brand new outlet malls, a brand new Coastal Grand Mall, and is close to Broadway at the Beach where the Hard Rock Cafe is.

http://rcdb.com/pr.htm?nearpark=1495&pstatus=142

Charlest Nungester is wrong.

Magic Harbor
http://rcdb.com/pd242.htm

Hard Rock Park
http://rcdb.com/pd1495.htm

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Monday, October 8, 2007 11:12 PM
Correct, when you go outside to have a smoke at Medieval Times while waiting to enter the arena, you are standing about 400 ft from what I think is Maximum RPM. I was there a few weeks ago and they had most of Led Zeppelin up and some track laying about. I have pictures. I'll get them up when I can.Don't forget Broadway at the Beach is also about 1/2 a mile from there, they have some flat rides.
*** This post was edited by coastern3rd 10/8/2007 11:14:06 PM ***
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