500 Arendell Street, Morehead City, NC 28557 (MLS# 100475292)
500 Arendell Street, Morehead City, NC 28557
$1,625,000

























Property Type:
Comm Sale or Lease
Square Footage:
5,540
Lot Size (sq. ft.):
3,485
Status:
Active
Current Price:
$1,625,000
List Date:
11/10/2024
Last Modified:
5/01/2025
Description
Downton Morehead City Bed & Breakfast, On the Crystal Coast with Panoramic Water Views and Unlimited Possibilities for Expansion... This is a unique opportunity to acquire a solid income-producing building, originally built in 1904, as the ''Tide Water and Power Building''. Redesigned, re-engineered, repurposed, meticulously restored, and rebuilt since 2004, as a ''Fortified Structure'' (capable of withstanding a CAT 5 Forces). The building has been engineered and built for multiple floor additions up to 70 ft, with 5 more rental units and event space already planned. The building has two, 2 car garages for off-street parking, as well as ample street parking on two sides. There are three residential living spaces within the building making it the perfect owner-occupied Bed & Breakfast opportunity. The rental and event income possibilities are extensive. Location - Location - Location on the corner of N 5th Street and Arendell St. (Hwy 70 West), overlooking the historic waterfront Business District, and within walking distance to some of the best premier restaurants, bars, shops, boutiques, and the famous fishing fleets of the Crystal Coast. Downtown Morehead City is a vibrant destination that offers something for everyone. From its charming streets lined with unique shops and boutiques to its picturesque waterfront, there are plenty of reasons to visit, experience, enjoy living, and doing business in the magic of a growing Downtown Morehead City.
More Information MLS# 100475292
Contract Info
Status: Active
Delayed Marketing?: No
Marketing Start Date: 2024-11-08
Sub-Type: Improved
Garage: N/A
Sale/Lease: Sale
Listing Price: 1625000
Current Price: $1,625,000
List Price/SqFt: 293.32
Stipulation of Sale: Standard
Location Information
Street #: 500
Street Name: Arendell
Street Suffix: Street
County: Carteret
State/Province: NC
Zip Code: 28557
City Limits: Yes
Marketing City: Morehead City
Subdivision: Not In Subdivision
Secondary Subdivision: N/A
Geo Lat: 34.721246
Geo Lon: -76.708499
Remarks and Showing
Directions to Property: Corner of Arendell and N. 5th St
Sign on Property: No
Building Info
New Construction: No
BuildingExt Features
SqFt - Heated (Primary): 5540
Legal and Taxes
Tax Assessed Value: 201088
Deed Book: 1036
Deed Page: 497
Legal: L1 2 B6 MOREHEAD CITY
Broker Owner: No
PID: 638620814325000
Tax Identifier: 638620814325000
Total Real Estate Property Taxes: 1462.83
Special Assessments: N/A
Tax Year: 2023
Year Built: 1920
Zoning: DB
HOA: No
Cobra Zone: No
Current Service Providers
Trash Provider: City of Morehead City
Electric Provider: Duke Progress Energy
Internet Service Provider(s): Spectrum
Natural Gas Provider: Piedmont Natural Gas Co.
Sewer Provider: City of Morehead City
Water Provider: City of Morehead City
Property Features
Business Type: Bed & Breakfast; Mixed; Professional/Office; Business Service; Commercial; Professional Service
Attic: None
Basement: None
View Type: ICW View; Marina; Ocean; Sound View; Water
Construction: Brick/Stone; Concrete; Metal Fab
Flooring: Concrete; Tile; Wood
Foundation: Slab
Fuel Tank: Propane Above Ground
Fuel Tank Ownership: Leased
Parking Features: Garage; Garage Faces Side; Off Street
Roof: Flat; Membrane
Lot Description: Corner Lot
Current Use: Commercial; Multi-Family; Residential
Location: Corner; Gen Bus District
Cooling: Central Air; Heat Pump
Heating: Forced Air; Heat Pump
Heating System Fuel Source: Electric; Propane
Water Heater: Electric
Utilities: Water Available
Sewer: Municipal Sewer
Water Source: Municipal Water
Terms: 1031 Exchange; Cash; Conventional; SBA
Listing Office: Keller Williams Realty
Last Updated: May - 01 - 2025
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