Property Images: 
MLS# 94350: Prime commercial property
Asking Price: 
1,950,000
Subdivision: 
Whalebone Bchs
Unit/Lot #: 
7010 S Virginia Dare Trail Nags Head, NC 27959
Waterfront: 
None
Area: 
Nags Head

Information

The Tar Heel Motel is a original family owned and operated motel since the mid 1950s. However the underlying land value has become so great that the operating income will not support that value. The underlying land consists of 6 - 40 ft wide 9,000 sqft lots on NC 12 and 5 - 40 ft wide 8920 sqft lots on US 158. The property is located in the Hotel Overlay District, therefore the height limit is 60 feet and the lot coverage is up to 75%.

The purpose of the Hotel Overlay District is to encourage hotel development.

THE TAR HEEL MOTEL IS AN ONGOING BUSINESS AND IS CURRENTLY TAKING RESERVATIONS FOR 2017. ANY PURCHASE AGREEMENT MUST CONTAIN THE CONDITION THAT THE BUYER IS TO HONOR ANY CONFIRMED RESERVATIONS.

Area
Nags Head between hwys
Subdivision
Whalebone Bchs
Lot Description
Corner,Level
Lot SqFt
98690
Roof
Asphalt/Fiber Shingle
Possession
At Closing
Negotiable
Subject to Tenancy
Foundation
Slab
Roads
Paved
Public
Heating
Wall Unit(s)
Air Conditioning
Wall Unit(s)
View Description:
Ocean
Sound
Taxes
$10329.54
Construction
Frame
Parking
26-50 Spaces
Parking Lot
Paved
Year Built
1956
Days On Market
464
Listing Agent
Eddie Goodrich
Listing Office
Village Realty Holdings, LLC - NH

Request More Information

Eddie Goodrich
Associate Broker
Office: 855-422-5098
Cell: 252-475-0874