46567 Nc Highway 12

    Buxton, NC 27920
    • $5,700,000
    • STATUS: Active
    • ON SITE: 109 days
    • MLS #: 97985
    UPDATED: 36 min ago
    $5,700,000
    • 0
      BEDS
    • 3.51
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1973
    County:

    School Ratings & Info

    Description

    This CLASSIC expanded and renovated 37 Unit motel has successfully operated since 1973 by the same dedicated family and they are now ready to retire. It is situated on Hatteras Island in the town of Buxton on both the oceanfront and sound side of Highway 12. Just a few minutes north of the famous Cape Hatteras Lighthouse and near the world famous Canadian Hole, the property is bordered on the east by the Atlantic Ocean, the west by a canal and marshland leading to the Pamlico Sound, and the north by the Cape Hatteras National Seashore Park. Cape Hatteras Motel features 25 Oceanfront rooms, townhome suites, and efficiencies, plus 10 Soundside suites all situated on 3.5 acres with room for future development. Seller has prepared a Pro Forma adding 5 buildings and 60 hotel rooms to the sound side property potentially generating an additional $1.6 million in gross receipts (see associated docs). Add that to the $1+ million in gross receipts for 2016, plus 4 decades of established, repeat clientele, beach nourishment, and the new Bonner Bridge and this investment is a no brainer! Other potential development possibilities include Condos, Townhomes, or perhaps Timeshares??

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    © 2018 Outer Banks Association of Realtors MLS. Information is deemed reliable but not guaranteed by the MLS or Surf or Sound Realty.
    www.surforsoundsales.com/homes/77268668

    46567 Nc Highway 12 Buxton, NC 27920

    • Price: $5,700,000
    • Status: Active
    • Updated: 36 min ago
    • MLS #: 97985
    0
    Beds
    0
    Baths
    0
    ½ Baths
    3.51
    Acres
    1973
    Built
    Neighborhood:
    Buxton Oceanside
    County:
    Dare
    Area:
    Buxton Oceanside
    Property Description
    This CLASSIC expanded and renovated 37 Unit motel has successfully operated since 1973 by the same dedicated family and they are now ready to retire. It is situated on Hatteras Island in the town of Buxton on both the oceanfront and sound side of Highway 12. Just a few minutes north of the famous Cape Hatteras Lighthouse and near the world famous Canadian Hole, the property is bordered on the east by the Atlantic Ocean, the west by a canal and marshland leading to the Pamlico Sound, and the north by the Cape Hatteras National Seashore Park. Cape Hatteras Motel features 25 Oceanfront rooms, townhome suites, and efficiencies, plus 10 Soundside suites all situated on 3.5 acres with room for future development. Seller has prepared a Pro Forma adding 5 buildings and 60 hotel rooms to the sound side property potentially generating an additional $1.6 million in gross receipts (see associated docs). Add that to the $1+ million in gross receipts for 2016, plus 4 decades of established, repeat clientele, beach nourishment, and the new Bonner Bridge and this investment is a no brainer! Other potential development possibilities include Condos, Townhomes, or perhaps Timeshares??
    Exterior Features

    Construction FrameWood Foundation Piling Lot Description Beach FrontageLevelWater Frontage Lot Size Dimensions 3.5 Acres Parking Garage 26-50 SpacesParking LotPavedOff Street Roads PavedPublic Roof Asphalt/Fiber Shingle Street Frontage 700 View Description CanalOceanPark Serv./PreserveSoundSalt Marsh Water Frontage 662 Waterfront Location Oceanfront

    Interior Features

    Air Conditioning Heat PumpWall Unit(S) Floor Covering CarpetCeramic Tile Heating Heat PumpWall Unit(S) Hotel Motel Sq Ft 27735 Insulation Yes

    Property Features

    Bank Owned YN No Business Name Cape Hatteras Motel Business Or Real Estate Bus/ Bldg/ Lf Simple Commercial Features Outdoor Pool Commercial Type Hotel / Motel Current Use Hotel/Motel Documents On File As-Built SurveyLand Survey Financing Options CashCommercial Flood Zone Ve Gross Income Range $800001 - $1.6 M Permitted Use Hotel/Motel Possession At ClosingSubject To Tenancy Potential Short Sale No Property Features Dumpster Sewer Septic Private Septic Tax Year 2017 Taxes 27610.54 Water Municipal Water Zoning C2

    Listing courtesy of Bobby Harrell of Harrell & Associates.
    © 2018 Outer Banks Association of Realtors MLS. Information is deemed reliable but not guaranteed by the MLS or Surf or Sound Realty.
    Surf or Sound Realty
    NC Highway 12
    Avon NC, 27915