100238417

209 K Avenue , Kure Beach

$1,500,000

MLS#: 100238417 Property Type: Commercial Address: 209 K Avenue City / Zip: Kure Beach, NC 28449 County: New Hanover Neighborhood: Not In Subdivision Year Built: 1920 Date Listed: 10/23/2020 Status: Under Contract

Agent's Comments

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 ExpensesInternet: $938.84TV: $1,880.79Power:$11,596.88Water Sewer: $6,993.35Taxes: $2,846.99+$2,250.03= $5097.02Insurance$9984.00Based 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 rateB1 ZoningBanks/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; homeoccupation; Dwelling constructed in conjunction w/ permitted uses above- ifintegral part of main building (S); real estate; Accessory uses clearly incidentalto permitted use that doesn't create nuisance or hazard

*Listing provided courtesy of the MLS.
Amenities
Interior Features
External Features
  • Lot Description:
  • Lot Description: ,
Additional Features
  • County: New Hanover
  • Status Date: 2021-04-10
  • Property Sub Type: HotelMotel
  • Year Built: 1920
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Listings provided courtesy of Wilmington Commercial Real Estate. and Wilmington MLS.

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