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Russo's Motel 213 Cape Fear Blvd 18 Room Hotel Carolina Beach, NC 28428 $3,950,000 ($219,444/Room)
INVESTMENT HIGHLIGHTS
- Flexible Owner Financing, Mixed-Use Property, Center Location-walkable to boardwalk, ocean, shops, dining and entertainment
EXECUTIVE SUMMARY
RARE REDEVELOPMENT OPPORTUNITY WITH OWNER FINANCING AVAILABLE - CAROLINA BEACH, NC
Located in the heart of one of the East Coast's fastest growing beach towns, this mixed-use property is your gateway to a high ROI redevelopment project just steps from the ocean
FLEXIBLE OWNER FINANCING OPTIONS
You don't need a bank. We are making it easy for visionary developers and investors.
*Only 20% down
*Competitive interest rates
*We have no lien so we can be the bank
*Avoid restrictive conditions compared to traditional financing
WHY CAROLINA BEACH?
*Booming real estate market with year-over-year growth
*Heavy summer tourism + growing off-season rental market
*Easy access to Wilmington, NC (20 minute away)
*Supportive local government for redevelopment and investment
*Maximum 50' building height
*Demand for long term rentals for locals and remote workers seeking a coastal lifestyle
*Property appreciation-Carolina beach has a history of strong property appreciation
This charming coastal town has a blend of classic beach nostalgia and modern charm. From fireworks and live music on the boardwalk to parks and outdoor recreation, Carolina Beach offers a lifestyle that draws millions each year-and this property is right in the center of it all.
ABOUT THIS PROPERTY
This property consists of a total of 4 lots. 3 of the lots are located at 213 Cape Fear Blvd and includes a 2 story 18 room motel and a house with an office and an apartment. The 4th lot connects to the back of the motel and is addressed at 218 Charlotte Ave. This is a vacant lot and is deeded separate from the other 3 lots.
UNMATCHED LOCATION
This is your opportunity to invest in one of the most sought-after areas on the Carolina coast. Located just a few blocks from the historic boardwalk, restaurants, shops, entertainment and the beautiful Atlantic Ocean. The flexible mixed-use zoning makes it ideal for a variety of redevelopment uses. Beach-close properties in this zone are becoming increasingly rare-don't miss this opportunity
Buyers, renters and vacationers all want to be close to the boardwalk and beach-and this location delivers.
READY TO BUILD YOUR VISION?
Whether you're a developer, investor or visionary business owner, this property has endless possibilities. Call today for more information or to schedule a private tour with the owner.
PLEASE NOTE: This property no longer has a pool. Updated pictures coming soon.
Located in the heart of one of the East Coast's fastest growing beach towns, this mixed-use property is your gateway to a high ROI redevelopment project just steps from the ocean
FLEXIBLE OWNER FINANCING OPTIONS
You don't need a bank. We are making it easy for visionary developers and investors.
*Only 20% down
*Competitive interest rates
*We have no lien so we can be the bank
*Avoid restrictive conditions compared to traditional financing
WHY CAROLINA BEACH?
*Booming real estate market with year-over-year growth
*Heavy summer tourism + growing off-season rental market
*Easy access to Wilmington, NC (20 minute away)
*Supportive local government for redevelopment and investment
*Maximum 50' building height
*Demand for long term rentals for locals and remote workers seeking a coastal lifestyle
*Property appreciation-Carolina beach has a history of strong property appreciation
This charming coastal town has a blend of classic beach nostalgia and modern charm. From fireworks and live music on the boardwalk to parks and outdoor recreation, Carolina Beach offers a lifestyle that draws millions each year-and this property is right in the center of it all.
ABOUT THIS PROPERTY
This property consists of a total of 4 lots. 3 of the lots are located at 213 Cape Fear Blvd and includes a 2 story 18 room motel and a house with an office and an apartment. The 4th lot connects to the back of the motel and is addressed at 218 Charlotte Ave. This is a vacant lot and is deeded separate from the other 3 lots.
UNMATCHED LOCATION
This is your opportunity to invest in one of the most sought-after areas on the Carolina coast. Located just a few blocks from the historic boardwalk, restaurants, shops, entertainment and the beautiful Atlantic Ocean. The flexible mixed-use zoning makes it ideal for a variety of redevelopment uses. Beach-close properties in this zone are becoming increasingly rare-don't miss this opportunity
Buyers, renters and vacationers all want to be close to the boardwalk and beach-and this location delivers.
READY TO BUILD YOUR VISION?
Whether you're a developer, investor or visionary business owner, this property has endless possibilities. Call today for more information or to schedule a private tour with the owner.
PLEASE NOTE: This property no longer has a pool. Updated pictures coming soon.
PROPERTY FACTS
AMENITIES
- Beach (direct access)
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 18 | $67.00 | - |
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $899,800 | |
| Land Assessment | $1,078,100 | Total Assessment | $1,977,900 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,078,100
Improvements Assessment
$899,800
Total Assessment
$1,977,900
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Russo's Motel | 213 Cape Fear Blvd
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