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MLS# 94022: 15% ROI! Over $90k in 2016!

205 E Atlantic Street Kill Devil Hills, NC 27948
Lot 3
Type: 
: Commercial
Waterfront: 
None
Asking Price: 
599,000

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

PROVEN income producer! Permitted use in a residential zone, this highly successful and established Inn has found its niche, maximizing its income generating potential from this property. Currently operated as an Inn with six individually rented efficiency style master suites, there is opportunity for a new owner to explore still untapped income potential, ie weddings, airbnb, etc.. Originally built in 1950 as a lifeguard boarding home, it was moved to its current location in the mid 1970's and received a complete overhaul to the studs in 2006 including plumbing, electrical, windows,appliances, ice machine, insulation, water heaters, and bathroom updates.

New roof in 2014.

Six power meters keep options open for future use. Fine attention to details throughout the inn by local craftsman with gorgeous repurposing of iconic Outer Banks old wood shutters and doors, original wood plank flooring and a fabulous fenced in courtyard create a unique and inviting property with many repeat guests and a growing clientele. Visit www.atlanticstreetinn.com A chameleon property that offers many options for use, including current operation as a nightly inn with 6 rented rooms, boarding house, single family home, weekly rental, etc.

Income at 15% ROI ytd for 2016, and stays partially booked throughout the fall, so more income to come for 2016. Website, inventory and furnishings included in sale.

Great offering, unique, historic and solid!

Area
Kill Devil Hills b/w Hwys
Subdivision
Kill Devil Bch
Unit/Lot#
lot 3
Section
1
Lot Description
Level
Lot SqFt
7500
Roof
Asphalt/Fiber Shingle
Possession
At Closing
Foundation
Piling
Roads
Paved
Public
Heating
Electric
Heat Pump
Wall Unit(s)
Zoned
Air Conditioning
Heat Pump
Wall Unit(s)
Zoned
View Description:
Ocean
Taxes
$2788.4
Construction
Frame
Parking
3 + Car
Paved
Year Built
1950
Days On Market
58
Listing Agent
Lauren Nelson
Listing Office
Resort Realty - Duck

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.