Property Description

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, 4×4 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

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Financial
2019
$2,707
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$401,200
$0
: Owned more than 12 months
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Cape Hatteras Realty & Const.
Frank
Jakob

Big lot w/ Existing Motel

27225 Sand Street, Salvo, NC 27972

22,000 Sqft
$355,000
Listing ID MLS #106088
Basic Details
Property Type : Lots/land
Listing Type : For sale
Listing ID MLS : 106088
Price : $355,000
Water View : 2 - Lots From Oceanfront (3rd Row
Lot Sq. Ft : 22,000 Sqft
Country : United States
State : NC
County : Dare
City : Salvo
Zipcode : 27972
Status : Active
Type : Commercial
Area : Salvo oceanside
DOM : 41
Agent info
SAGA Realty & Construction
SAGA Realty & Construction
1314 S. Croatan Hwy #301
Contact Agent