TURN KEY MOTEL/RESTAURANT

Hospitality for Sale
Sale Pending/Contingent
Catylist Listing ID: 30679298
Property Subtypes: Motel
Status: Pending/Contingent
Number of Units: 4 Units
Building Size (RSF): 7,920 SF
Gross Building Area: See Agent
Gross Land Area: 3.10 SF
Sale Price: $738,000
Unit Price: $184,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/31/2021

Overview / Comments

TREMENDOUS OPPORTUNITY IN THE HEART OF EASTERN NC. The potential for this property is unlimited. The site, based on its currentusage has a motel building, a lodge of apartments, a restaurant, a free standing metal building being used as a wild game prep area, and aseparate single family home/office. The property is located on Highway 264 between Engelhard and Swan Quarter, at the entrance to thefamous Mattamuskeet Wildlife Refuge. The property offers the opportunity operate as a hunting/fishing lodge, seafood restaurant, year aroundapartments in the lodge, typical motel, etc. being in the center of Hyde Co with all the wildlife and water access benefits. An additional optionmight be to convert the motel rooms into one bedroom condos, the lodge apartments into condos, sell them off, manage on site, and operate orlease the restaurant. The potential is only limited by one's imagination and fore sight.

Additional Details

Nearest MSA: Kill Devil Hills
County: Hyde
Tax ID/APN: 8642286471
Zoning: NONE
Retail Clientele: Family, Tourist, Recreation
Property Located Between: Pamlico Sound & Lake Mattamuskeet
Property Visibility: Good
Total Number of Buildings: 4
Number of Stories: 2
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Septic

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