MLS # 106088
27225 Sand Street
Salvo, NC 27972
$355,000
 
Bedrooms
Bathrooms
22,000
Sq. Ft.

About This Property

Accepting Offers On Line....Highest Bidder...(.1 of 3) Parcels...See Docus.....Call Broker .....Parcel 1 = Motel (12 rooms + 4 Studio Apartments)...As Listed $355,000......OPERATION SINCE 1971....NEEDS TLC....BELOW TAX VALUE $401,600...RENTAL POTENTIAL $286,000+/- SEASON MAR - NOV...++++ADDITIONAL PARCELS AVAILABLE EXTRA $$....Parcel 2 ( 2 Duplex) = (4) 1 Br Studio Apartments $250,000......Parcel 3 ( 4 Br House)...$250,000....Total $855.000.....Seller Financing 50% Down Terms TBD.....Note: Future = Can Build (6) More (2) Br Apartments (engineered plan pending)....Future Additional Rental $20,000 Ea x 4 = $80,000 Yr = $420,000+/-Total Rental Income Potential....CALL BROKER......Accepting Offers On Line....OPPORTUNITY IS KNOCKING....BEING SOLD "AS IS" 2019 TAX VALUE ($401,200) ....NEEDS TLC + NEW FURNISHINGS....12 ROOMS + 4 STUDIO APARTMENTS...$280,000+/- (33%+/- ROI) RENTAL POTENTIAL MAR - NOV...HIGH DEMAND OCEAN BEACH RESORT AREA........SEE PRO FORMA ATTACHED ASSOC DOCUS.....POSSIBLE SELLER FINANCING 50% DOWN TERMS TBD.......2019 TAX VALUE $401,200 (Land + Bldg - Business Not included) ....LOCAL PROPERTY MANAGEMENT + AirBnb + VRBO AVAILABLE........Big Ocean Block Lot All Uses Permitted S1 Zoning.......Opportunity is Knocking....Existing Ocean Block Motel Sale 12 rooms + 4 Studio Apartments . ...33%+/- CAP RATE ( ROI Net before depreciation) ....2019 TAX VALUE $401,200 (Land + Bldg - Business Not included) ....POSSIBLE SELLER FINANCING 50% DOWN TERMS TBD......Location - Location - Location....We Got The Beach....2 lots back ocean front.....Direct Ocean Beach Access Over Dune (foot steps to Ocean).......Wide Beach with 2X Double Dune.....Best Flood Zone AE 8 Ocean Block....can use as home or business or combo....Build to Suit...See Salvo Ship Wreck .....NEW ROOF 2015-2016 + RECENT REMODEL,,,, Opportunity is Knocking for Owner Operator or Investor...33%+/- CAP Rate (ROI)....$280,000+/- Rental Income Potential...HIGH TRAFFIC RESORT AREA..... There are Very Few Motels in area or Hatteras Island... Season Aril thru November. ...Cape Hatteras National Seashore reports 7,000+ Daily Traffic NC Hwy 12.....2.5+ Million Visitors Annually & Rising 2019... Outer Banks Chamber Commerce reports 5.5+ Million Tourist Annually...Close to Shopping, Dining, Salvo Day Use Sound Side Park, 4x4 ORV Ramp 23 nearby.... Near By Nights in Rodanthe House....New Bridge NC Hwy 12 Oregon Inlet Now Open April 2019 ++++ New Bridge NC Hwy 12 In Process Rodanthe - Waves - Salvo + All Hatteras Island + Ferry To Ocracoke....Will Post More Photos + Aerial in Process...2019 TAX VALUE $401,200 LAND + BUILDING ONLY ....DOES NOT INCLUDE BUSINESS VALUE (see attached data sheet)...Call Broker.......NOTE: ...Easement Agreement in Process for Shared Parking Lot..Make Part Of All Offers...ETA...TBD....1-3 Months....CALL BROKER

Property Details

MLS:
106088
Address:
27225 Sand Street
Town:
Salvo
Price:
$355,000
Estimated Monthly Mortgage:
$1,614/mo.
Listing Agent:
Jakob, Frank
Listing Company:
Cape Hatteras Realty & Const.
Area:
Salvo Oceanside
Subdivision:
None
Waterfront Location:
2 - lots from oceanfront (3rd ro
Oceanside Location:
 
Soundside Location:
 
Lot Size:
22000 sq ft
Map
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