1502 New River DrSurf City, NC 28445

Property Details for 1502 New River Dr

Year built

2013

Lot size

0.21 AC

Property size (Sq ft)

3,856 SF

Zone code

R5

Property type

Hospitality properties

Property subtype

Hotels

APN

4245-54-8618-0000

APU

42455486180000

Description

Tiffany's Hotel, a charming 12-key boutique hotel, presents a unique investment opportunity in the desirable Surf City, North Carolina. Located at 1502 N New River Dr, in Pender County, zip code 28445 (34.4406408, -77.5212975), this hospitality property offers a luxurious and intimate experience for guests. The hotel's central location on New River Drive provides easy access to local attractions and restaurants, ensuring high occupancy rates. With its cozy atmosphere and intimate setting, Tiffany's Hotel is perfect for travelers seeking a peaceful retreat or a memorable celebration. The asking price for this turnkey operation is $1,700,000. This represents a compelling investment in a thriving coastal market, offering significant potential for return on investment. The property's limited number of rooms allows for personalized service and a high level of guest satisfaction, contributing to strong repeat business and positive online reviews. This is an exceptional opportunity to acquire a well-established and profitable hotel in a highly sought-after location. The hotel's unique character and prime location make it an attractive option for both leisure and business travelers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,061,631

  6.5%

  $979,967

  7%

  $909,969

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,398,800

  Geo Method

  $2,080,000

• Alternative Use

  Use

  Valuation

  Residential

  $1,069,839

  Hospitality

  $979,967

  Educational

  $815,321

  Medical

  $843,361

  Retail

  $1,268,277

Location Insight

City

Surf City

County

Pender

State

North Carolina

Latitude

34.4406

Longitude

-77.5213

CBSA code

48900

CBSA name

WILMINGTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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