27225 Sand St
Salvo, NC 27972
Salvo Inn Motel · Hospitality Property For Sale · 14 Rooms

"ESTATE SALE" ....OWNER DECEASED ....OCEAN BLOCK .MOTEL 12 ROOMS + 4 STUDIO APARTMENTS.....NEEDS TLC...2 LOTS FROM PUBLIC OCEAN BEACH ACCESS....OPERATION SINCE 1971......RESORT AREA......5.5+ MILLION TOURIST YEAR......BELOW TAX VALUE $401,600....50% SELLER FINANCING.....CASH IS KING.....BUY NOW ON LINE......RENTAL POTENTIAL $286,000+/- 33% CAP RATE....SEE PRO FORMA (BUDGET) ....NO P & L.....CALL BROKER......Accepting Offers On Line....Highest Bidder...(.1 of 3) Parcels $355,000 + Others Extra $$...See Docus.....Call Broker .....Parcel 1 = Motel (12 rooms + 4 StudioApartments)...As Listed $355,000....ADDITIONAL PARCELS AVAILABLE EXTRA $$....Parcel 2 ( 2 Duplex) = (4) 1 Br Studio Apartments $250,000......Parcel 3 ( 4 Br House)...$250,000....Total $855.000.....Seller Financing 50% Down Terms TBD.....Note: Future = Can Build (6) More (2)Br Apartments (engineered plan pending)....Future Additional Rental $20,000 Ea x 4 = $80,000 Yr = $420,000+/-Total Rental Income Potential....CALL BROKER.... ...Proof $$ Funds to Close...$10,000 Refundable Deposit To Closing Attorney Dixon & Dixon in Avon, NC 27915.......15 Days Due Diligence...Close 45 Days......Oppoprtyunity is Knocking.....Motel =.$286,500+/- Rental Income Potential....33%+/- CAP Rate....ROI $$....ESTATE SALE (2019 TAX VALUE $401,200).....OPPORTUNITY IS KNOCKING....BEING SOLD "AS IS" 2019 TAX VALUE ($401,200) ....NEEDS TLC + NEW FURNISHINGS....12 ROOMS + 4 STUDIO APARTMENTS...$280,000+/- RENTAL POTENTIAL (26%+ CAP RATE).....SEASON ... MAR - NOV...HIGH DEMAND OCEAN BEACH RESORT AREA........SEE PRO FORMA ATTACHED ASSOC DOCUS.....POSSIBLE SELLER FINANCING 50% DOWN TERMS TBD.......2019 TAX VALUE $401,200 (Land + Bldg - Business Not included) .......LOCAL PROPERTY MANAGEMENT + AirBnb + VRBO AVAILABLE...........This is an “Estate Sale” …former owner passed away…..new owner renovated to sell…currently only rents (mo - mo) to construction workers (New Bridge Under Construction Rodanthe, NC 27968) ….……High Demand "Ocean Beach” - Resort Area…5.5+ Million Tourist Annually…Season (Mar - Nov) … Motel was in operation circe (1971 - 2009)…..New Roof + Renovations…Needs New Furnishings TLC….See Pro Forma attached…No P&L’s….FYI….Camp Sites @ KOA rent $115-$150+ night (5 night min )...….No Worries….High $$ Income Potential of owner/operator/investor…..local property management available. Possible seller financing with 50% Down Terms TBD. We get 5.5+ Million Tourist annually to the Outer Banks, NC. This is an Estate Sale (operation since 1971) …. (see attached Pro Forma) .......Opportunity is Knocking...ESTATE SALE .....OPERATION 1971 - 2009 ....ORIGINAL OWNER DECEASED......NEW ROOF + RENOVATIONS TO SELL TAX VALUE.....Ocean Block Motel Sale 12 rooms + 4 Studio Apartments ......26%+/- CAP RATE ( ROI Net before depreciation) ....2019 TAX VALUE $401,200 (Land + Bldg - Business Not included) .....POSSIBLE SELLER FINANCING 50% DOWN TERMS TBD......Location - Location - Location....We Got The Beach....2 lots back ocean front.....Direct Ocean Beach Access Over Dune (foot steps to Ocean).......Wide Beach with 2X Double Dune.....Best Flood Zone AE 8 Ocean Block.....See Salvo Ship Wreck ....NEW ROOF 2015-2016 + RECENT REMODEL ,,,, Opportunity is Knocking for Owner Operator or Investor....26%+/-CAP Rate (ROI) ....$280,000+/- Rental Income Potential ..HIGH TRAFFIC RESORT AREA.... There are Very Few Motels in area or Hatteras Island....Season Aril thru November. ...Cape Hatteras National Seashore reports 7,000+ Daily Traffic NC Hwy 12.....2.5+ Million Visitors Annually & Rising 2019... Outer Banks Chamber Commerce reports 5.5+ Million Tourist Annually...Close to Shopping, Dining, Salvo Day Use Sound Side Park, 4x4 ORV Ramp 23 nearby...Near By Nights in Rodanthe House.... New Bridge NC Hwy 12 Oregon Inlet Now Open April 2019 ++++ New Bridge NC Hwy 12 In Process Rodanthe - Waves - Salvo + All Hatteras Island + Ferry To Ocracoke....Will Post More Photos + Aerial in Process....2019 TAX VALUE $401,200 LAND + BUILDING ONLY ....DOES NOT INCLUDE BUSINESS VALUE (see attached data sheet)...Call Broker