7010 S Virginia Dare Trail

    Nags Head, NC 27959
    • $1,800,000
    • STATUS: Closed
    • ON SITE: 585 days
    • MLS #: 94350
    Sold - 03/22/2018
    $1,800,000
    SOLD - 03/22/2018
    • 0
      BEDS
    • 2.27
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1956
    County:

    School Ratings & Info

    Description

    The Tar Heel Motel is a original family owned and operated motel since the mid 1950s. However the underlying land value has become so great that the operating income will not support that value. The underlying land consists of 6 - 40 ft wide 9,000 sqft lots on NC 12 and 5 - 40 ft wide 8920 sqft lots on US 158. The property is located in the Hotel Overlay District, therefore the height limit is 60 feet and the lot coverage is up to 75%. The purpose of the Hotel Overlay District is to encourage hotel development. THE TAR HEEL MOTEL IS AN ONGOING BUSINESS AND IS CURRENTLY TAKING RESERVATIONS FOR 2017. ANY PURCHASE AGREEMENT MUST CONTAIN THE CONDITION THAT THE BUYER IS TO HONOR ANY CONFIRMED RESERVATIONS.

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    © 2018 Outer Banks Association of Realtors MLS. Information is deemed reliable but not guaranteed by the MLS or Matt Myatt | Keller Williams.
    www.mattmyatt.com/homes/68011533

    7010 S Virginia Dare Trail Nags Head, NC 27959

    • Price: $1,950,000
    • Status: Closed
    • Updated: 72 min ago
    • MLS #: 94350
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.27
    Acres
    1956
    Built
    Neighborhood:
    Whalebone Bchs
    County:
    Dare
    Area:
    Nags Head between hwys
    Property Description
    The Tar Heel Motel is a original family owned and operated motel since the mid 1950s. However the underlying land value has become so great that the operating income will not support that value. The underlying land consists of 6 - 40 ft wide 9,000 sqft lots on NC 12 and 5 - 40 ft wide 8920 sqft lots on US 158. The property is located in the Hotel Overlay District, therefore the height limit is 60 feet and the lot coverage is up to 75%. The purpose of the Hotel Overlay District is to encourage hotel development. THE TAR HEEL MOTEL IS AN ONGOING BUSINESS AND IS CURRENTLY TAKING RESERVATIONS FOR 2017. ANY PURCHASE AGREEMENT MUST CONTAIN THE CONDITION THAT THE BUYER IS TO HONOR ANY CONFIRMED RESERVATIONS.
    Exterior Features

    Construction Frame Foundation Slab Lot Description CornerLevel Parking Garage 26-50 SpacesParking LotPaved Roads PavedPublic Roof Asphalt/Fiber Shingle View Description OceanSound Waterfront Location None

    Interior Features

    Air Conditioning Wall Unit(S) Floor Covering CarpetTileVinyl Heating Wall Unit(S) Hotel Motel Sq Ft 11166 Insulation CeilingWall

    Property Features

    Bank Owned YN No Business Name Tar Heel Motel Business Or Real Estate Bldg/Land Simple Commercial Type Hotel / Motel Current Use Motel Documents On File Aerial SurveyDeedLand Survey Financing Options CashCommercial Flood Zone Ae Full Subdivision Name Whalebone Beaches Gross Income Range Call Agent Permitted Use Variety Of Commercial Use Possession At ClosingNegotiableSubject To Tenancy Potential Short Sale No Tax Year 2015 Taxes 10329.54 Zoning C-2

    Listing courtesy of Eddie Goodrich of Village Realty Holdings, Llc - Nh.
    © 2018 Outer Banks Association of Realtors MLS. Information is deemed reliable but not guaranteed by the MLS or Matt Myatt | Keller Williams.
     
    Matt Myatt | Keller Williams
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    Corolla NC, 27927