Kure Beach Investment and Development Opportunity
Multi-Family
for Sale
Also listed as Vacant Land, Hospitality
| Catylist Listing ID: |
30790919 |
| Number of Units: |
8 Units |
| Building Size (RSF): |
4,387 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.44 - 0.46 Acres
|
| Sale Price: |
$2,995,000 |
| Unit Price: |
$374,375 Per Unit |
| Ceiling: |
9 ft. |
| Property Use Type: |
Vacant/Owner-User |
| Building Name: |
Retreat Center |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/3/2022 |
Overview / Comments
|
Unique Oceanfront investment opportunity in Kure Beach, This property consist of a 4,387 square foot structure on over .46 acres. The property falls in the RA-4 zoning area that permits One/two family dwelling; townhouse/condo and hotel/motel type properties. This oceanfront building has 8 individual bedroom/bath units that has access to a central common area with full kitchen, storage and restroom. This conveniently located property had 100 feet of ocean and street frontage. Two level of decks over look the ocean and there is additional outside space for activities and gathering. Property has off-street parking it borders public parking access. Multiple opportunities exist for this property. One can continue the multi-unit beach front center use, repurpose the building, raise the building and develop the 100 x 204 lot or split property into two buildable lots.
|
Additional Details
| Nearest MSA: |
Wilmington |
| County: |
New Hanover |
| Taxing Authority: |
New Hanover County |
| Tax ID/APN: |
R09405-007-001-000 |
| Zoning: |
RH-4 |
| Property Located Between: |
F Avenue and E Avenue |
| Airports: |
ILM |
| Site Description: |
Multi-bedroom center placed on ocean front beach lot |
| Area Description: |
Residential, Tourist destination and commercial area |
| Total Number of Buildings: |
3 |
| Property Condition: |
Average |
| Number of Stories: |
2 |
| Year Built: |
1983 |
| Construction/Siding: |
Brick |
| Exterior Description: |
Brick Veneer building wood decking |
| Parking Type: |
Structure, Surface |
| Parking Description: |
Off-street tandem style and public parking |
| Total Parking Spaces: |
6 |
| Sprinklers: |
None |
| Heat Type: |
Electricity |
| Heat Source: |
Central, Wall Units, Other |
| Air Conditioning: |
Package Unit |
| Interior Description: |
Common Room with adjoining kitchen and storage, rooms are dormitory style, with adjoining and private. |
| Zoning Description: |
RH-4 zoning that permits One/two family dwelling; townhouse/condo and hotel/motel type properties, See attached land use plan |
| Lot Frontage: |
100 |
| Lot Depth: |
201 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Land Ownership: |
Agape/Kure Beach Ministries |
| Legal Description: |
Lts 19/20/21/22/& 41/42/42/44 Blk 7 Fort Fisher |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
3,980 |
10,209 |
| Median Age: |
48.43 |
45.57 |
| Households: |
1,804 |
4,567 |
|
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