27225 Sand Street, Salvo, NC 27972  

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

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  • Listing Type Vacant Land
  • Listing ID 106088
  • Listing Status Active
  • County Dare
  • Zoning S1
  • Taxes 2707.0
  • TaxYear 2019
Listing courtesy of Frank Jakob~Cape Hatteras Realty & Const.

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Price History

Date Listed at or
9/7/2019 $355,000 $74,900
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