46567 NC Highway 12, buxton, NC 27920 (MLS # 97985)

Price $5,700,000
Status Active
Size n/a
Lot Size 3.51 ac
Days on Market 19
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??
Property Type(s): Commercial
Last Updated 10/4/2017 Year Built 1973
Community Buxton Oceanside County Dare

Additional Details

AIR Heat Pump, Wall Unit(s)
AIR CONDITIONING Yes
AREA Buxton Oceanside
BASEMENT FND: Piling
CONSTRUCTION Frame, Wood
HEAT Heat Pump, Wall Unit(s)
INTERIOR Ceramic Tile, Floors: Carpet, Outdoor Pool
LOT 3.51 acre(s)
LOT DIMENSIONS 3.5 acres
LOTDESCRIPTION Beach Frontage, Dumpster, Level, Water Frontage
PARKING 26-50 Spaces,Parking Lot,Paved
POOL Yes
SEWER Private Septic
TAXES 27610.54
UTILITIES Municipal Water; Private Septic;
VIEW Yes
VIEW DESCRIPTION Canal,Ocean,Park Serv./Preserve,Sound,Salt Marsh
WATER Municipal Water
WATERFRONT Yes
WATERFRONT DESCRIPTION Oceanfront

Location

 

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