$5,700,000 46567 Nc Highway 12 Buxton, NC

MLS: 97985   Type: Commercial   County: Dare   City: Buxton   Area: Buxton Oceanside   Zip: 27920   Style: Hotel/Motel     Taxes: $27,610

Mortgage $26,761 /mo



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This CLASSIC expanded and renovated 37 Unit motel has successfully operated since 1973 by the same dedicated family and they are now ready to retire. It is situated on Hatteras Island in the town of Buxton on both the oceanfront and sound side of Highway 12. Just a few minutes north of the famous Cape Hatteras Lighthouse and near the world famous Canadian Hole, the property is bordered on the east by the Atlantic Ocean, the west by a canal and marshland leading to the Pamlico Sound, and the north by the Cape Hatteras National Seashore Park. Cape Hatteras Motel features 25 Oceanfront rooms, townhome suites, and efficiencies, plus 10 Soundside suites all situated on 3.5 acres with room for future development. Seller has prepared a Pro Forma adding 5 buildings and 60 hotel rooms to the sound side property potentially generating an additional $1.6 million in gross receipts (see associated docs). Add that to the $1+ million in gross receipts for 2016, plus 4 decades of established, repeat clientele, beach nourishment, and the new Bonner Bridge and this investment is a no brainer! Other potential development possibilities include Condos, Townhomes, or perhaps Timeshares??

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Price History

10/4/2017 Listed $5,700,000

Bank Owned Y/n No
Business Name Cape Hatteras Motel
Construction Frame, Wood
Docs on File As-Built Survey, Land Survey
Financing Options Cash, Commercial
Listing Status Active
Status Active
Type Hotel / Motel
Zoning C2

Interior Features

Cooling Heat Pump, Wall Unit(s)
Floor Covering Carpet, Ceramic Tile
Heating Heat Pump, Wall Unit(s)
Insulation Yes
Total Number of Units 37

Exterior Features

Approx.lot Sqft 153011
Flood Zone VE
Foundation Piling
Lot Description Beach Frontage, Level, Water Frontage
Parking/Garage 26-50 Spaces, Parking Lot, Paved, Off Street
Roof Asphalt/Fiber Shingle
View Canal, Ocean, Park Serv./Preserve, Sound, Salt Marsh
Water Municipal Water
Waterfront 662

Property Schools

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Gallery (33 photos)

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Property vs Zip Code Avg (27920)

Price 5.70M Avg 5.70M

Taxes $27,610 Avg $27,610

Acres 3.51 Avg 3.51

Visits 34 Avg 35

Days on Site 110 Avg 110

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Listing Provided Courtesy Of: Bobby Harrell @ Harrell & Associates

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Location & Address

Alex Argiroff
3921 Pineway Drive
Kitty Hawk, NC