1003 Croatan HwyKill Devil Hills, NC 27948
- Hotels
- 18,798 SF
Property Details for 1003 Croatan Hwy
- Year built
- 1985
- Lot size
- 0.84 AC
- Property size (Sq ft)
- 18,798 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 4322000
- APU
- 4322000
Description
This exceptional investment opportunity presents the fee-simple interest in the Outer Banks Inn, a 40-key hotel ideally situated in Kill Devil Hills, North Carolina. Boasting 18,798 square feet on a 0.84-acre lot (36,500 sq ft), this three-story property offers significant value-add potential. Built in 1985 and extensively renovated in 2021, the Inn presents a turnkey operation with a strong historical performance. The property's financial projections indicate a pro-forma cap rate of 10.80% and a pro-forma NOI of $345,521, translating to a price per key of $79,975 and a price per square foot of $170.18. Located at 1003 S Croatan Hwy, Kill Devil Hills, NC 27948 (APN: 04322000), the Outer Banks Inn benefits from its prime location within a thriving coastal community in Dare County. This established hotel presents a compelling investment opportunity for discerning buyers seeking a strong return on investment in a desirable coastal market. The asking price for this exceptional property is $3,199,000. Serious inquiries only.
Location Insight
- City
- Kill Devil Hills
- County
- Dare
- State
- North Carolina
- Latitude
- 36.0066
- Longitude
- -75.6559
- CBSA code
- 28620
- CBSA name
- KILL DEVIL HILLS, NC MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
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