8802 Reed Drive, Emerald Isle, NC 28594 (MLS# 100310104)

8802 Reed Drive, Emerald Isle, NC 28594

$1,930,000
Property Type: Comm Sale or Lease Square Footage: 9,600 Lot Size (sq. ft.): 55,321 Status: Closed
Current Price: $1,930,000 List Date: 1/31/2022 Last Modified: 8/26/2022

Description

What you focus on expands - now is the time to make your dreams come true!! Are you looking to expand your commercial portfolio or possibly searching for the perfect parcel to invest in?! Do you have a business plan that you want to implement but don't have the physical space to do so? Look no further than this ''gem'' located on the Crystal Coast and Bogue Banks! By most measures, Emerald Isle is among the largest of the 21 oceanfront municipalities in North Carolina and has 2nd lowest property tax rate among those towns. Rare opportunity to own acreage located directly on Hwy 58 in Emerald Isle within the business district! Opportunity awaits the right investor with a streamlined growth mindset. The subject property is two contiguous commercial parcels that comprise 1.27 gross acres (55,321 gross square feet [SF]). The usable upland area is 1.27 acres (55,321 SF). It is improved with a 9,600 square feet (SF) commercial condominium building and zoned for a Business District use. The building is currently at 100% occupancy rate and the current Owners have been proactive in the maintenance of the property so this transition can be seamless and turn-key. We are excited to provide the opportunity for you to partner with local zoning boards to create an outstanding mix of future growth specific to this property. Emerald Isle has become a top destination for weddings, vacationing, shopping, dining and entertainment with local events and attractions that keep full time residents as well as second home and short term vacationers coming back year after year. Emerald Isle is a wealthy Coastal community providing upwards of 20% of the County's total taxable value . The permanent population of Emerald Isle is approx. 3,784 while the peak-season population is upwards of 40,000. Emerald Isle features only 200 acres zoned for commercial and mixed use (of total 3,200 acres) ~ 6% of the island and this property encompasses 1.27 acres out of the 200. This property is adjacent to

Supplements: multiple maintained roads with tremendous exposure in addition to being located directly along the Emerald Isle Bike path and can be visibly seen from both Emerald Drive (State Highway 58) and local street Reed Drive. The parking is shared. Current tenants in place include: Mexican Restaurant, Café & Bakery, Real Estate office and affiliated vendor partners all under one roof! Don't miss out on this once in a lifetime purchase! The future growth is exponential with the harmonious efforts the local business owners, residents, Town, County officials and tourists invest in this 5.2 mile stretch of prime real estate alone! Financials and leases shared with fully executed NDA.

More Information MLS# 100310104

Contract Info

Status: Closed Marketing Start Date: 2022-01-31 Sub-Type: Improved Sale/Lease: Sale Auction: No Listing Price: 1990000 Current Price: $1,930,000 List Price/SqFt: 207.29 Stipulation of Sale: Standard

Location Information

Street #: 8802 Street Name: Reed Street Suffix: Drive County: Carteret State/Province: NC Zip Code: 28594 City Limits: Yes Marketing City: Emerald Isle Subdivision: Not In Subdivision Secondary Subdivision: N/A Geo Lat: 34.660662 Geo Lon: -77.051066

Remarks and Showing

Directions to Property: From Hwy 58 take 1st right at round about. Turn left onto Reed drive. Property will be on your left, no sign. Sign on Property: No

Building Info

New Construction: No

BuildingExt Features

SqFt - Heated (Primary): 9600

Legal and Taxes

Tax Assessed Value: 718190 Deed Book: 1659 Deed Page: 156 Legal: U1 U2 U3 U4 U5 MCQUEENS PLAZA CONDOS Broker Owner: No PID: Multiple Parcels Tax Identifier: 538311577130000 Plat Book: 10Q Plat Page: 690 Special Assessments: N/A Tax Year: 2021 Year Built: 1994 Zoning: B HOA: No Cobra Zone: No

Status Change Info

Under Contract Date: 2022-06-12 Sold Price: $1,930,000 Sold Date: 2022-08-26

Current Service Providers

Electric Provider: Carteret-Craven EMC Water Provider: Bogue Banks Water Corp

Financial Info

Financial Info: Yes

Property Features

Business Type: Business Flex; Food Service; Mixed; Professional/Office; Retail; Shopping Center Showing Instructions: Special Instructions HOA and Neigh Amenities: See Remarks Attic: None Basement: None Construction: Steel Frame Exterior Finish: See Remarks Flooring: See Remarks Foundation: Slab Parking Features: Assigned; On Site; Paved; Private; Shared Driveway Location: Cent Business District; Freestanding; Gen Bus District; Office Center; Shopping Center; See Remarks Lot Water Features: None Heating System Fuel Source: Electric Utilities: Water Available; See Remarks Sewer: Septic Tank Water Source: Municipal Water Terms: Cash; Conventional; See Remarks Lease Types: See Remarks
Listing Office: Keller Williams Crystal Coast
Last Updated: August - 26 - 2022
8802 Reed Drive, Emerald Isle, NC 28594- MLS# 100310104
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