Free Standing Restaurant

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30370120
Property Subtypes: Free-Standing Building, Restaurant, Tavern/Bar/Nightclub
Status: Pending
Building Size (RSF): 1,974 SF
Gross Land Area: 0.57 Acres
Sale Price: $599,500
Unit Price: $303.70 PSF
Property Use Type: Net Leased Investment (NNN)
Usable Size (USF): 1,974 SF
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 7/19/2019

Overview / Comments

UNLIMITED potential for this commercial building located on the east side of N. Croatan Highway in Kitty Hawk. As is, it offers 1,974/sf currently leased by Sweet Frogs Frozen Yogurt Shop, however there are plans and preliminary permits in place to double the size to approximately 4,000/SF which would accommodate a 75 seat restaurant. ASKING PRICE SUBJECT TO CHANGE DUE TO TOWN REQUIREMENTS, AND NEEDED DRAIN FIELD REPAIR AREA ON ADJACENT SITE. This corner Bypass location offers 100' of primary highway visibility, .57 acre lot (25,000/SF) and ample parking (currently 15 but proposed expansion increases to 35 spots!). It is zoned BC 1 - General Beach Commercial, which includes professional offices, retail, service establishments, restaurants, plus a SLEW of conditional uses.

Additional Details

Nearest MSA: Kill Devil Hills
County: Dare
Tax ID/APN: 987512864524
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Visibility: Excellent
Largest Nearby Street: Croatan Hwy
Feet of Frontage: 350
Highway Access: Croatan Hwy
Airports: Dare County Regional Airport & Wright Brothers
Site Description: Corner Lot
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,974 SF
Property Condition: Good
Year Built: 1981
Year Renovated: 2015
Roof Type: Arched
Construction/Siding: Stucco
Heat Type: Electricity
Heat Source: Central
Zoning Description: Beach Commercial
In Flood Plain?: Yes
Lot Frontage: 350
Lot Depth: 250
Water Service: Municipal
Sewer Type: Septic
Land Ownership: owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,144 10,156 16,907
Median Age: 39.12 41.19 42.95
Households: 490 4,271 7,088
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