Oceaneer Motel

Hospitality for Sale
Also listed as Multi-Family, Business Opportunity
Catylist Listing ID: 30778833
Property Subtypes: Extended Stay, Motel, Other
Number of Units: 28 Units
Building Size (RSF): 11,668 SF
Gross Building Area: See Agent
Gross Land Area: 0.68 Acres
Sale Price: $5,000,000
Unit Price: $178,571.43 Per Unit
Ceiling: 9 ft.
Property Use Type: Investment, Business
Building Name: Oceaneer Motel
Name of Establishment: Oceaneer Motel
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2022

Overview / Comments

Iconic Oceaneer Motel located ocean front in Carolina Beach. This Motel has 28 units that consist of a mix of hotels style rooms, efficiency and one, two and three bedroom apartments. This .68 acre parcel(150 x 200) is zoned multi-family and has 150 feet of street and beach frontage. Parking lot and Pool area all add to the properties operation. This is a great opportunity to step into a successful business or an opportunity to redeveloped.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: New Hanover County
Tax ID/APN: R09206-001-001-000
Zoning: MULTI-FAMILY
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Alabama and Texas Avenues
Property Visibility: Excellent
Largest Nearby Street: Lake Park S
Feet of Frontage: 150
Highway Access: 421, 74/76, I-40 and Hwy 17
Airports: ILM
Site Description: Ocean front property located in the business and residential district
Area Description: Ocean front
Nearby Attractions: Beaches, commercial and vacation amenities
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Average
Year Built: 1972
Year Renovated: 1990
Construction/Siding: Brick/Vinyl Siding
Water Recreation: Outdoor Pool
Exterior Description: Motel style construction.
Total Parking Spaces: 24
Parking Type: Surface
Parking Description: Surface Parking
Sprinklers: None
Laundry: Laundromat Nearby
Heat Type: Electricity
Heat Source: Other
Air Conditioning: Package Unit
Internet Access: Cable, DSL
Interior Description: Mixed floor plans for motel use
Zoning Description: Multifamily
Lot Frontage: 150
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Jinks K Wittington
Legal Description: Lots 1-3, 20-22 Blk 2 Wilmington Beach

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,449 6,630 16,413
Median Age: 47.62 45.98 45.65
Households: 1,536 3,060 7,169

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