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Dream Team United

| Dream Team United | Keller Williams Connected | PLACE

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213 Raleigh Ave , Carolina Beach, NC 28428
$4,750,000
Est. Payment: $10,555.56/mo
0 Bed
0 Bath
6224 Sqft
Status: Active | Days on site: 162
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House Description

Turnkey investment motel in the Heart of Carolina Beach. Rare opportunity to acquire the Carolina Beach Motel, formerly known as Cole's Motel, a fully renovated 21-unit motel located less than 1,500 feet from the beach and within walking distance to restaurants, shops, and the CB Boardwalk. The property sits on three 50x100 lots and operates as a pet-friendly, self-check-in motel with no on-site front office, allowing for efficient management and reduced overhead. The property is being sold fully furnished with all operational assets and the established business. The motel features 21 units with private bathrooms, offering several room types to accommodate a range of guests. All units are equipped with smart TVs, microwaves, mini or mid-size refrigerators, and Keurig coffee makers. The property underwent an extensive renovation beginning in 2022 across all three buildings, including new insulation, drywall, replacement of most sub-joists, new subfloors, LVP flooring, updated plumbing and electrical systems including fixtures, tile bathrooms with new vanities, toilets, and walk-in showers, four water heaters, and mini-split HVAC systems in each room. Additional improvements include a high-tech hardwired and monitored fire alarm system, security camera system, new wood railings and porch privacy walls, and landscaping throughout the property. Each unit has an on-site, designated parking space on a partially paved lot, with the remaining portion recently graveled in place of an outdated pool to provide sufficient guest parking. Operational infrastructure includes a housekeeping supply room with a new mop and hand sink, as well as a designated laundry area in the main building with washer and dryer hookups ready for installation. The motel recently reopened last year and currently operates across Airbnb, Expedia, Booking.com, and direct booking website, utilizing smart locks and remote guest communication. Visit the Carolina Beach Motel's website to explore the property, room types, and additional photos, then schedule a private showing to experience it in person.

Highlights

Listed by Reidi Troy , 843-860-0012 Prosper Real Estate , 910-352-7957.

Property Type

Commercial Sale

Lot/Acreage
0.34

Year Built

1955

County

New Hanover

Neighborhood

Heart of Carolina Beach

Listing ID

100559721

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Floor:LVT/LVP

Exterior Features

Lot Dimensions:150x100
Garage Capacity:21
Zoning:MX
Roof:Composition,Shingle
Parking Features:Private,Off Street,On Site
Principal Interest
$10,556
Taxes
$3,028

Home Price

$4,750,000

Loan Details

30 yrs
%

Down Payment

20%
$950,000
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Monthly Price:
$10,555.56

Principal

Taxes

Principal Taxes HOA Total
Monthly $10,555.56 $3,028.13 $0.00 $13,583.68
Yearly $126,666.67 $36,337.50 $0.00 $163,004.17
Total $3,800,000.00 $1,090,125.00 $0.00 $4,890,125.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Carolina Beach, NC).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.