Welcome to the Outer Banks

Top Utility Menu

Push to Talk
Push to Chat

MLS# 89670: Cape Pines Motel in Buxton!

47497 NC Highway 12 Buxton, NC 27920
Area: 
Type: 
: Commercial
Waterfront: 
None
Asking Price: 
1,675,000

Request More Information

Randy Nance
Senior Associate Broker
Office: 877-684-0762
Cell: 252-202-3374

Hatteras Lodging Inc. DBA Cape Pines Motel ... located in the heart of Buxton on the visible Main NC Highway 12 ... just 1/2 mile south of the entrance to Cape Hatteras Lighthouse *** Motel is situate on a Corner with Land equaling approximately 1.36 Acres *** High ground ... Flood Zone X (only small portion of structure at NE corner slips into the AE Flood Zone) *** Great Owner Operator Opportunity - they are so rarely available in today's market ... and this is a good one! *** Owners purchased in 2006, and have each year added additional sources of revenue and strengthened the ones they have in place *** Marketing has been improved resulting in continued growth in revenues *** Owners have each year invested significant monies to update rooms, mechanicals, Owner Living Quarters, and most recently, on the Main Building, an all new Metal Roof with guttering *** On-Site Laundry Facilities have been expanded, and much more! 28 Rooms, Guest Check-In Office, Large Owner Quarters, Significant # of storage Rooms *** Swimming Pool * Lots of parking to accommodate guests! *** Owners have supplied 2 years tax returns, P&L Statements, and have an 80 plus page Commercial Master Arts Institute (MAI) Appraisal completed April 2015 with a $1.8M valuation. Gross Revenues $500K range with NOI in the $180K range exclusive of Owner/Operator Salary *** Sellers are offering said property and business at below appraised value *** MAI Appraisal and Financials available to interested parties after signing a confidentiality agreement.

This will require a pre-qualification process with an agent prior to accepting a signed confidentiality agreement and supplying financials. This is a rare offering - a great opportunity to run your own business and to live the dream on Hatteras Island on the Outer Banks ... Come see!

Area
Buxton Oceanside
Lot Description
Corner,Level
Lot SqFt
57934
Roof
Asphalt/Fiber Shingle,Metal
Possession
Negotiable
Foundation
Masonry
Roads
Paved
Public
Heating
Electric
Heat Pump
Wall Unit(s)
Air Conditioning
Heat Pump
Wall Unit(s)
Window Unit(s)
Taxes
$5147.65
Construction
Frame
Masonry
Wood
Parking
26-50 Spaces
Parking Lot
Paved
Off Street
Year Built
1955
Days On Market
373
Listing Agent
John Leatherwood
Listing Office
Coldwell Banker-Seaside Realty

Data provided by Outer Banks Association of Realtors MLS. This data is intended for your personal, non-commerical use. Information is deemed reliable, but is not guaranteed. Copyright 2016 Outer Banks Association of Realtors.