Last updated: August 13, 2020

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Commercial,
46567 "NC Highway 12"
Buxton, NC 27920
Area: Buxton Oceanside
Listing Price:  $5,695,000
MLS#:  110236
Lot Sq Ft:  153011
Listing Date:  07/23/2020
Waterfront Loc:  Oceanfront
More Photos: (click to view)
                                                                     
Agent Remarks:
"This CLASSIC expanded and renovated 37 Unit motel has successfully operated since 1973 by the same dedicated family and they are now ready to retire. It is situated on Hatteras Island in the town of Buxton on both the oceanfront and sound side of Highway 12. Minutes from the historic Cape Hatteras Lighthouse and near the world famous wind surfing and kite boarding mecca, the Canadian Hole. The property is bordered on the east by the Atlantic Ocean, and on the west by a canal and marshland leading to the Pamlico Sound, and the north by 8.5 miles of the Cape Hatteras National Seashore Park. Cape Hatteras Motel features 25 Oceanfront rooms, townhome suites, and efficiencies, plus 10 Soundside 2 bedroom suites all situated on approximately 4.0 acres with ample room for future development, (see proposed development plans in photos). The west parcel is approximately 2.75 acres. Due to proposed beach nourishment, there is no current survey on file for the east tract but based on 2018 aerials, it is approximately 1.3 acres. Seller had Quible Associates prepare a conservative site plan to determine the density the vacant land on the soundside would allow. Which was determined to be 44 additional units in 4 buildings (see pictures and associated docs for site plan and elevations) Using the ADR and occupancy rates, it is estimated that the expansion could generate another 1.6M in revenue. Add that to the 1 million in consistent annual gross receipts, plus 4 decades of established, repeat clientele, beach nourishment, and the new Bonner Bridge, and the Jug Handle Bridge, makes this investment a no brainer with a potential 12 CAP rate."
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Agent 1: Bobby Harrell, Harrell & Associates
Agent 2: Tess Harrell, Harrell & Associates


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Commercial,
785 "Irvin Garrish Highway"
Ocracoke, NC 27960
Area: Ocracoke
Listing Price:  $4,500,000
MLS#:  108829
Lot Sq Ft:  108028
Listing Date:  03/19/2020
Waterfront Loc:  N/A
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Agent Remarks:
"VERY SUCCESSFUL MOTEL, IN LIKE NEW CONDITION. The motel has been operated by the same family since the 1970s. With repeat clientele in the summer season, governmental and sportsmen in the winter months, the motel has consistent income and profits. With a wide variety of accommodations from single rooms to efficiencies and even a cottage, along with a very nice pool, the occupancy rates are excellent. All 50 rooms are non-smoking, with telephones, Wifi, A/C, refrigerators, microwaves, cable TV, and hair dryers, and expansive marsh and distant ocean views from the newer three story wing. Also included is a 3 bedroom, 2 bath cottage and a 2 bedroom apartment on site. The original wing of the motel is nestled among the red cedars and live oaks, with picnic tables, and grilling areas.. The is also plenty of room for boat parking on the spacious grounds. This is an exception opportunity for the astute, discerning owner/operator."
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Agent 1: Bobby Harrell, Harrell & Associates
Agent 2: Tess Harrell, Harrell & Associates


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Commercial, Other
267/269 "Goshen Back Road"
Engelhard, NC 27824
Area: Hyde County
Listing Price:  $3,195,000
MLS#:  106344
Lot Sq Ft:  2447636
Listing Date:  08/26/2019
Waterfront Loc:  Creekfront
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Agent Remarks:
"The subject property is located in Engelhard, NC, situated on Far Creek, consisting if 56.19 total acres, 20.77 acres uplands, 16.89 acres wetlands, and 18.53 acres that have not been evaluated. The current use is as a marina, seafood company, and mini storage. The property has 1326 of dockable shoreline, with 586 bulkheaded in a protected marina. Far Creek is federally maintained to a depth of 12, with 8 of depth along the docks. Engelhard is centrally located off Highway 264, with direct ocean access almost equidistant to Oregon, Hatteras and Ocracoke Inlets. The Hyde County Airport is just 7 miles away with a paved runway of 4700 feet! There is currently no zoning, and coupled with municipal sewer and water, the potential for this site is practically unlimited. Hyde County is a Tier 1 County, thus the state of North Carolina aggressively encourages development through tax incentives and grants. The site is also in an Opportunity Zone, which has many tax advantages for investments."
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Agent 1: Bobby Harrell, Harrell & Associates
Agent 2: Tess Harrell, Harrell & Associates


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Commercial, Other
160 "Hoyle Jones Road"
Hertford, NC 27944
Area: Perquimans County
Subdivision: "The Moorings At Albemarle"
Listing Price:  $2,500,000
MLS#:  109611
Lot Sq Ft:  4062405
Listing Date:  06/08/2020
Waterfront Loc:  Soundfront
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Agent Remarks:
"Albemarle Sound Waterfront residential subdivision of 128 residential lots, approved to build. Property comes with existing construction authorization, permits and approvals for all that is needed to start constructions. This includes the waste system permits, drinking water commitment, storm water permit, grading authorization, paving approval and more. This is a great project for a quality builder."
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Agent 1: Charles Newsome, Howard Hanna William E. Wood - Currituck


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Commercial, Other
370 "Harbor Road"
Wanchese, NC 27981
Area: Wanchese
Listing Price:  $2,000,000
MLS#:  109858
Listing Date:  06/24/2020
Waterfront Loc:  Harborfront
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Agent Remarks:
"Unique and rare opportunity in Wanchese. Over 11,000 square feet of current working boat building shop with 150 feet of deep water edge containing 7-70 foot boat slips, and 58,000 square feet of land according to Dare County Tax Records. Adjoining parcel of Deep water basin and over 6 acres also available. MLS Video attached includes this property and MLS"
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Agent 1: Browny Douglas, Carolina Dunes Real Estate


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