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
500 Arendell Street, Morehead City, NC 28557- MLS# 100475292
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