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Outer Banks Inn
Price:
$4,000,000
$3,750,000
Address :
1003 S Croatan Hwy
Kill Devil Hills, NC 27948
Excellent location on US 158 Bypass, the primary commercial corridor in the Outer Banks
Ideal size and operating model for owner/ operator
Dare County offers low cost of living
Prime location for multi-family conversion
Offered at discount to replacement cost
Renovations since 2019: New Property Management System & Computers, New Website, Security System, Monument Sign, Exterior Paint, All New Flooring Throughout, New House Laundry Machines
Location/Market
Physical Plant
Financials
Over 2.8 million visitors annually
Only 3 Blocks to Oceanfront and within walking dis-tance of 2 public beach accesses
Convenient to numerous independent and nationally-franchised restaurants
Situated on main commercial corridor in Kill Devil Hills (US 158)
Close to Regional Demand Generators:
Wright Brothers Memorial
Jockeys Ridge & Kitty Hawk Kites (multi-retail)
Manteo, with Pirate’s Cove Marina, the Lost Colony outdoor drama, Fort Raleigh National Historical Site, and Elizabethan Gardens
Oregon Inlet Fishing Center
40 Rooms
3 Stories, Interior Corridor
Wood Frame Construction
Brick Façade
Asphalt Shingle Roof
Asphalt and Paver Parking Lot
Wireless Internet
Guest-Access Computers
Guest Laundry
Vending
Outdoor Pool
Built in 1985
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Financials
2019
2020
2021
T-12Mos 5/22
Occupancy
37.80%
28.96%
35.02%
44.83%
Average Daily Rate
$113.08
$142.24
$180.86
$174.40
Room Revenue
$552,595
$537,480
$848,792
$766,282
Net Operating Income
$198,511
$259,252
$486,872
N/A
This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!
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