$3,300,000
$3,900,000
15.4%For more information regarding the value of a property, please contact us for a free consultation.
2.02 Acres Lot
SOLD DATE : 06/19/2020
Key Details
Sold Price $3,300,000
Property Type Commercial
Sub Type Hotel / Motel
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 107507
Sold Date 06/19/20
Year Built 1965
Annual Tax Amount $12,508
Tax Year 2019
Lot Size 2.020 Acres
Acres 2.02
Property Description
Come check out this OCEANFRONT MOTEL that has been owned and operated since 1969 on the BEACH ROAD at 16 mile post by the Gladden family. Both motel buildings were reroofed with 30 year architectural shingles along with remodeling several rooms January 2018.When purchased in 1969, it consisted of 12 units in one building. Since, additions were added with a building housing an office with owners quarters along with a 2 room suite and a single rental room upstairs in 1975. In 1985 a TWIN BUILDING was added bringing the rental units up to 25 along with a HEATED INDOOR POOL and matching HOT TUB.Two pools were added outside on the oceanside with decking to satisfy sunbathers. Of those, one is a lap pool for the aquatic exerciser while the other a traditional type. They continued their expansion with a third floor added to the north building in 1993 bringing 5 more KING ROOMS. One includes a larger lounging area with a private triangular jet tub. All rooms overlook both ocean and sound with east and west doors to the balconies, with private balconies overlooking the ocean from the 2nd and 3rd floors. There's 17 regular rooms, and all have a small refrigerator, microwave and a coffee maker. 13 units are efficiencies with small kitchens stocked with refrigerator, small range/oven, microwave, toaster, along with cookware and dishes. Improvements are ongoing, both buildings recently had decks on the wrapped in heavy vinyl and new railings installed. The septic drainfield was completely replaced in June 2019. There's a well for keeping the front yard looking sharp, municipal water for all other purposes. A remote controlled luggage lift conveniently located for suitcases between the 2 buildings. The fish cleaning area is complete with cutting table, water and disposal.The motels location is in the heart of Nags Head, 1 mile north of Jennette's Pier and just across the bypass from Outer Banks Soundside Event Site where eventually a convention center is rumored to happen. Great restaurants and shopping are all in near proximity. Be sure to check the website www.BlueHeronNC.com for more pictures and information.
Location
State NC
County Dare
Area Nags Head Oceanside
Zoning CR
Interior
Heating Forced Air, Heat Pump, Wall Unit(s)
Cooling Central, Wall Unit(s)
Flooring Carpet, Vinyl
Exterior
Garage 26-50 Spaces, Garage, Paved
Waterfront Description Oceanfront
View Ocean, Salt Marsh, Sound
Roof Type Asphalt/Fiber Shingle
Building
Lot Description Beach Frontage, Corner
Foundation Masonry, Slab
Sewer Private Septic
Others
Restrictions Variable Rate Comp
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash,Commercial
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Bought with Pat Preston • Shore Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
5960 Fairview Rd Ste. 400, Charlotte, NC, 28210, United States