209 K Avenue, Kure Beach, NC 28449 (MLS# 100238417)
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
Contract Info
Status: Closed
Marketing Start Date: 2020-09-26
Auction: No
Listing Price: 1500000
Current Price: $1,600,000
List Price/SqFt: 371.29
Stipulation of Sale: Standard
Location Information
Street #: 209
Street Name: K
Street Suffix: Avenue
County: New Hanover
State/Province: NC
Zip Code: 28449
City Limits: Yes
Marketing City: Kure Beach
Subdivision: Not In Subdivision
Secondary Subdivision: N/A
Geo Lat: 33.998096
Geo Lon: -77.907208
Remarks and Showing
Directions to Property: take right on k ave on left
Sign on Property: No
Building Info
New Construction: No
BuildingExt Features
SqFt - Heated (Primary): 4040
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
Year Built: 1920
Zoning: B1
HOA: No
Cobra Zone: No
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
Last Updated: June - 17 - 2021
Copyright 2024 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.