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12 N Pavilion Ave 1,342 SF Retail Building Carolina Beach, NC 28428 $750,000 ($558.87/SF)
Investment Highlights
- Coastal community with beachfront views
- High tourist area with heavy traffic
Executive Summary
Carolina Beach boardwalk property. Currently vacant. This property is .04 of an acre or 1,742 sf.
The property line is slightly outside the existing structure meaning you can add some square footage in a redevelopment of the property. The current usable square footage is 1,537 (please see attached flyers and documents for layouts). The sellers have some renderings of potential two- and three-story designs for a redevelopment.
For existing uses please see the link to the Town of Carolina Beaches zoning ordinance to see what the current Central Business District allows.
Short term business operation or renovate and make this a mixed-use three-story building with ocean views. Potential is only as endless as the town's ordinances.
The property was previously tenanted, and that tenant vacated at the end of the lease term. Seller may entertain a long-term lease for the property. However, the primary goal is to sell the asset.
There are no owners' dues or association fees for the property on the board walk.
The property line is slightly outside the existing structure meaning you can add some square footage in a redevelopment of the property. The current usable square footage is 1,537 (please see attached flyers and documents for layouts). The sellers have some renderings of potential two- and three-story designs for a redevelopment.
For existing uses please see the link to the Town of Carolina Beaches zoning ordinance to see what the current Central Business District allows.
Short term business operation or renovate and make this a mixed-use three-story building with ocean views. Potential is only as endless as the town's ordinances.
The property was previously tenanted, and that tenant vacated at the end of the lease term. Seller may entertain a long-term lease for the property. However, the primary goal is to sell the asset.
There are no owners' dues or association fees for the property on the board walk.
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
1,342 SF
Building Class
C
Year Built
1950
Price
$750,000
Price Per SF
$558.87
Tenancy
Single
Building Height
1 Story
Building FAR
0.77
Lot Size
0.04 AC
Zoning
CBD - Central Business District
Frontage
88’ on Boardwalk
Amenities
- Corner Lot
- Signage
- Waterfront
Fairly walkable
50/100
Moderately drivable
70/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R09006-008-001-000 | Improvements Assessment | $142,100 |
| Land Assessment | $663,900 | Total Assessment | $806,000 |
Property Taxes
Parcel Number
R09006-008-001-000
Land Assessment
$663,900
Improvements Assessment
$142,100
Total Assessment
$806,000
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