SeaWitch Tiki Bar & Cafe

Retail-Commercial for Sale
Catylist Listing ID: 30335998
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 5,351 SF
Sale Price: $3,000,000
Unit Price: $560.64 PSF
Property Use Type: Investment, Business
Usable Size (USF): 5,351 SF
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 11/12/2018

Overview / Comments

Subject includes:
+/- 3,076 SF wood-framed restaurant
+/- 2,235 SF wood-framed tiki bar
+/- 2,332 SF of covered porches
+/- 4,953 SF of wood decking and other site improvements

The popular SeaWitch Tiki Bar and Café business and surrounding parking acreage is available for sale. The restaurant was purchased by current owners over 4 years ago and completely remodeled to its current state. Proposed improvements include a rooftop addition above the Tiki Bar to provide ocean views.

Sales have increased by over 10% annually and are expected to do the same for the 2018 year. Financials available upon request.

The property offers onsite parking, along with a direct connection to the Town of Carolina Beach public parking lot. Live music is offered on the weekends, which attracts locals and tourists alike.

Attachments & Media

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R09006-005-019-000; R09006-005-016-000; R09006-005-015-000
Zoning: CBD - CENTRAL BUSINESS DISTRICT (TOWN OF CAROLINA BEACH)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,785 11,122 21,839
Median Age: 43.01 46.76 43.26
Households: 1,255 5,022 9,429

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