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24251 Atlantic Dr 3,212 SF Retail Building Rodanthe, NC 27968 $1,900,000 ($591.53/SF) 14.17% Cap Rate
INVESTMENT HIGHLIGHTS
- Anglers from all around the world love to fish here!
EXECUTIVE SUMMARY
The Rodanthe Pier generates over $400,000 per year in gross income, Approx. $160,000 NOI ! It's an icon for Hatteras Island where you'll find the visitors from all around the world are some of the friendliest people you'll ever meet. This pier is a social hub of the tri-villages. Folks just come up to see what is happening and to visit. Entertainment includes music on the deck for 3-4 nights weekly throughout the summer! The game room is an added adventure for this great family fun spot! Repeat customers love the pier and share some wonderful nostalgic stories about their memories of the pier. They are also very grateful for the owners upgrading the pier regularly and for how well maintained it's been kept throughout this past decade. Lots of new friendships are created here. Social and economic classes are nonexistent on the pier. Doctors, Lawyers, judges, plumbers, brick masons, etc. fish side by side and are friends out there. The fishing is outstanding! The scenery is beautiful. The sunrises are spectacular! There's plenty of room to grow the income by adding a grill/restaurant and serving foods like steamed shrimp and grilled fish! You'd then have the ONLY oceanfront restaurant on Hatteras Island! The Pier is more structurally sound than it has been in decades. The owners were able to grow the business continually with their excellent management and staff. Now they are ready to trade up to spending the days catching some fish! This is a rare opportunity for a new owner to step into a growing business of "too much fun making a ton of memories for you and visitors from near and far"! The owners are willing to assist in the transfer of the business. Please ask for the required confidentiality agreement prior to the release of the financials.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
3,212 SF
Building Class
C
Year Built
1980
Price
$1,900,000
Price Per SF
$591.53
Cap Rate
14.17%
NOI
$269,278
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.12 AC
Zoning
S-1 - Special District
PROPERTY TAXES
| Parcel Number | 027794000 | Improvements Assessment | $481,800 (2025) |
| Land Assessment | $741,000 (2025) | Total Assessment | $1,222,800 (2025) |
PROPERTY TAXES
Parcel Number
027794000
Land Assessment
$741,000 (2025)
Improvements Assessment
$481,800 (2025)
Total Assessment
$1,222,800 (2025)
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24251 Atlantic Dr
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