Beach Motel Great Location, Heart of Kure Beach

Hospitality for Sale
Catylist Listing ID: 30556615
Property Subtypes: Motel, Other
Number of Units: 28 Units
Building Size (RSF): 9,400 SF
Gross Building Area: See Agent
Sale Price: $3,100,000
Unit Price: $110,714.29 Per Unit
Property Use Type: Business
Building Name: Moran Motel
Name of Establishment: Moran Motel
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 7/1/2020

Overview / Comments

Has it always been your dream to run your own motel and live on site. Well this is the perfect opportunity. Kure Beach is a very desired vacation destination. With it's pristine beaches, fishing pier, great restaurants, and amenities for the family you won't find a better place to call home. This 23 room motel comes with an additional 2 bedroom garage apartment, and a completely renovated 3 bedroom cottage. Along with an additional vacant lot for future use. It also has a coin laundry facility on property, picnic areas, swimming pool with slide, plenty of parking, right across from the ocean, and in the middle of the business district of Kure Beach. Close to the fishing pier, restaurants that are some of the finest in our area, and plenty of family amenities. This motel has brought in strong revenue in 2017, and 2018 after adding a website and online reservations. There are many repeat customers who have been coming for years to enjoy their summer vacations, and fishing trips. The owner has updated and renovated almost every inch of the property. New microwaves, refrigerators, stoves, mattresses, AC units, and Flat screen TVs have been added to all rooms within the last two years, new windows, blinds, and LED venting lights. New office furniture, laminate wood flooring, Lorex security system, Vivint security system. New storage building, new dining PVC composite deck with new reinforced beams and galvanized brackets. New self service ice machine, Health Department approved, New soda machine, new concrete picnic area with 4 picnic tables, solar lighting, and new gas grill to be installed. Public laundry room installed with 5 commercial washers, 5 dryers, detergent disposal, coin change machine, 2 folding tables, table, and sink. Perfect for doing your laundry while you are away on vacation. There is also a motel commercial grade laundry room for the staff with new commercial dryer just added. New porch furniture to sit back and relax after a day at the beach. There is also a new concrete handicap accessible path in front of the office and in front of two of our rooms. There is also the 2 bedroom garage apartment that has a new electrical panel, new laminate wood floor, all new windows, renovated bathroom, new refrigerator, new stove , new flat screen TV, all new mattress sets, this is an adorable rental unit for families. It also has the potential to bring in additional income in the off season. All 23 motel rooms have been renovated within the last two years with new tile floors, all new kitchen sinks, new LED lighting in all rooms, all interior rooms freshly painted, new Direct TV with new wiring and high speed wifi service, exterior painted, pool has new bottom and wall plastering, has new pvc composite deck and new concrete plastering surface, new ladder and handrails. New roof. New LED lighting outside along the walkways and stairs. The cottage has 4 new AC units.
Landscaping has been done throughout the property. White rock has been added in many areas to give a pleasant look and with little up keep. There was a new sprinkler system installed in the front garden areas. The sign has been rewired, a new office sign was installed, along with all electrical panels upgraded.
All furnishings, equipment, supplies, web site, and guest registers will transfer to new owner. Current owner will be glad to help new owner get set up and go over all areas of the motel.
Most of the staff have been with the motel for years, and everyone loves them.
This is hidden gem just waiting for you.The potentials here are wide open. Business zoning, heart of Kure Beach, almost an acre of land, and a profitable running motel with cottage, apartment, and vacant lot included. Don't forget all of the upgrades. Hurry this one will not last long. Especially with all the renovations that have been done. Make your appointment today, summer is coming!

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: Kure Beach
Tax ID/APN: R09217-005-009-000,R09217-005-007-000,R09217-005-006-000,
Zoning: B-1
Retail Clientele: General, Family, Business, Tourist, Recreation, Other
Property Located Between: Kure Beach and Ft. Fisher in the heart of Kure Beach
Property Visibility: Excellent
Largest Nearby Street: Ft Fisher Blvd.
Airports: New Hanover County Airport
Area Description: Quaint beach town with gorgeous beaches, fishing pier, great restaurants, family amenities, easy access. Great place to visit or call home.
Nearby Attractions: Kure Beach Fishing Pier, Kure Beach Oceanfront Park, Ft. Fisher Aquarium, Ft. Fisher Museum, right down from Carolina Beach with charter fishing, boardwalk with lots of restaurants, family activities, and shopping.
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Good
Year Built: 1959
Year Renovated: 2017
Water Recreation: Outdoor Pool
Parking Type: Surface
Laundry: Shared
Heat Type: Other
Heat Source: Wall Units
Air Conditioning: Window Unit
Zoning Description: B-1
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,481 5,060 10,051
Median Age: 53.53 46.85 45.28
Households: 666 2,300 4,484

Contact

Photograph of Listing Agent

Barbara Golightly

Island Blue Properties NCCMLS Member
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