209 K Avenue, Kure Beach, NC 28449
$1,600,000
Property Type:
Comm Sale or Lease
Square Footage:
4,040
Lot Size (sq. ft.):
0
Status:
Closed
Current Price:
$1,600,000
List Date:
9/26/2020
Last Modified:
6/17/2021
Description
Beach Cottages and apartments, solid income, New Roofs, Apartments completely brand new inside, new vinyl siding on the cottages. Large cottage average 2400 a month, small cottage 1700 a month x 3, apartments 1200 a month x 5.
Current Expenses
Internet: $938.84
TV: $1,880.79
Power:$11,596.88
Water Sewer: $6,993.35
Taxes: $2,846.99+$2,250.03= $5097.02
Insurance$9984.00
Based off full time rental potential gross income is 162k a year, with vacation rental income can greatly increase. But with a fair 25% expense ratio You will have 7.5 cap rate
B1 Zoning
Banks/loan/finance company; bus terminal (S); place of worship;
eating/drinking establishment; service station (S); food store; hotel/motel;
parking lot (S); professional office; barber/beauty/personal service shop;
public building/facility; retail store; arcade (S); theatre (S); dance hall; home
occupation; Dwelling constructed in conjunction w/ permitted uses above- if
integral part of main building (S); real estate; Accessory uses clearly incidental
to permitted use that doesn't create nuisance or hazard
More Information MLS# 100238417
Building/Ext Features
Lot Acres: 0
Lot SqFt: 0.23
Lot Dimensions: 100 by 100
Location Type: Mainland
Contract Info
Auction: No
List Price/SqFt: 371.29
Stipulation of Sale: Standard
Status: Closed
Marketing Start Date: 2020-09-26
Listing Price: 1500000
Current Price: $1,600,000
Location Information
City Limits: Yes
Marketing City: Kure Beach
Secondary Subdivision: N/A
Street #: 209
Street Name: K
Street Suffix: Avenue
County: New Hanover
State/Province: NC
Zip Code: 28449
Subdivision: Not In Subdivision
Geo Lat: 33.998096
Geo Lon: -77.907208
Remarks and Showing
Sign on Property: No
Directions to Property: take right on k ave on left
Building Info
New Construction: No
Legal and Taxes
Tax Assessed Value: 251400
Deed Book: 6190
Deed Page: 2972
Legal: LOT 12 BLK 16 KURE BEACH REV
Broker Owner: No
PID: R09213-015-002-000,
Tax Identifier: R09213-015-002-000
Plat Book: o
Plat Page: o
Special Assessments: none
Tax Year: 2019
Zoning: B1
HOA: No
Cobra Zone: No
Year Built: 1920
Business Type
Hotel/Motel: 1
Other: 1
Sale/Lease Includes
Buildings: 1
Business: 1
Fixtures: 1
Furniture: 1
BuildingExt Features
SqFt - Heated (Primary): 4040
Status Change Info
Under Contract Date: 2021-03-31
Sold Price: $1,600,000
Sold Date: 2021-06-16
Property Features
Business Type: Hotel/Motel; Other
Listing Office:
Wilmington Commercial Real Estate
IDX
Last Updated: June - 17 - 2021
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