Property Images: 
MLS# 106088: Big lot w/ Existing Motel
Asking Price: 
355,000
Subdivision: 
None
Unit/Lot #: 
27225 Sand Street Salvo, NC 27972
Waterfront: 
Oceanside
Area: 
Salvo

Information

Accepting Offers On Line....Highest Bidder...(.1 of 3) Parcels...See Docus.....Call Broker .....Parcel 1 = Motel (12 rooms + 4 Studio Apartments)...As Listed $355,000......OPERATION SINCE 1971....NEEDS TLC....BELOW TAX VALUE $401,600...RENTAL POTENTIAL $286,000+/- SEASON MAR - NOV...++++ADDITIONAL PARCELS AVAILABLE EXTRA $$....Parcel 2 ( 2 Duplex) = (4) 1 Br Studio Apartments $250,000......Parcel 3 ( 4 Br House)...$250,000....Total $855.000.....Seller Financing 50% Down Terms TBD.....Note: Future = Can Build (6) More (2) Br Apartments (engineered plan pending)....Future Additional Rental $20,000 Ea x 4 = $80,000 Yr = $420,000+/-Total Rental Income Potential....CALL BROKER......Accepting Offers On Line....OPPORTUNITY IS KNOCKING....BEING SOLD "AS IS" 2019 TAX VALUE ($401,200) ....NEEDS TLC + NEW FURNISHINGS....12 ROOMS + 4 STUDIO APARTMENTS...$280,000+/- (33%+/- ROI) RENTAL POTENTIAL MAR - NOV...HIGH DEMAND OCEAN BEACH RESORT AREA........SEE PRO FORMA ATTACHED ASSOC DOCUS.....POSSIBLE SELLER FINANCING 50% DOWN TERMS TBD.......2019 TAX VALUE $401,200 (Land + Bldg - Business Not included) ....LOCAL PROPERTY MANAGEMENT + AirBnb + VRBO AVAILABLE........Big Ocean Block Lot All Uses Permitted S1 Zoning.......Opportunity is Knocking....Existing Ocean Block Motel Sale 12 rooms + 4 Studio Apartments . ...33%+/- CAP RATE ( ROI Net before depreciation) ....2019 TAX VALUE $401,200 (Land + Bldg - Business Not included) ....POSSIBLE SELLER FINANCING 50% DOWN TERMS TBD......Location - Location - Location....We Got The Beach....2 lots back ocean front.....Direct Ocean Beach Access Over Dune (foot steps to Ocean).......Wide Beach with 2X Double Dune.....Best Flood Zone AE 8 Ocean Block....can use as home or business or combo....Build to Suit...See Salvo Ship Wreck .....NEW ROOF 2015-2016 + RECENT REMODEL,,,, Opportunity is Knocking for Owner Operator or Investor...33%+/- CAP Rate (ROI)....$280,000+/- Rental Income Potential...HIGH TRAFFIC RESORT AREA..... There are Very Few Motels in area or Hatteras Island... Season Aril thru November. ...Cape Hatteras National Seashore reports 7,000+ Daily Traffic NC Hwy 12.....2.5+ Million Visitors Annually & Rising 2019... Outer Banks Chamber Commerce reports 5.5+ Million Tourist Annually...Close to Shopping, Dining, Salvo Day Use Sound Side Park, 4x4 ORV Ramp 23 nearby....

Near By Nights in Rodanthe House....New Bridge NC Hwy 12 Oregon Inlet Now Open April 2019 ++++ New Bridge NC Hwy 12 In Process Rodanthe - Waves - Salvo + All Hatteras Island + Ferry To Ocracoke....Will Post More Photos + Aerial in Process...2019 TAX VALUE $401,200 LAND + BUILDING ONLY ....DOES NOT INCLUDE BUSINESS VALUE (see attached data sheet)...Call Broker.......NOTE: ...Easement Agreement in Process for Shared Parking Lot..Make Part Of All Offers...ETA...TBD....1-3 Months....CALL BROKER

Area
Salvo Oceanside
Subdivision
None
Waterfront
2 - lots from oceanfront (3rd ro
Waterfront Location
2 - lots from oceanfront (3rd ro
Lot SqFt
22000
Taxes
$2707
Association Fee Included?
No
Days On Market
73
Listing Agent
Frank Jakob
Listing Office
Cape Hatteras Realty & Const.

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Matt Whelan
Senior Associate Broker
Cell: 252-202-2891

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