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Coastal N.C. Hotel for Sale in Morehead City 3100 Arendell St 100 Room Hotel Morehead City, NC 28557 $10,592,400 CAD ($105,924 CAD/Room)
Investment Highlights
- Situated in the vibrant Crystal Coast.
Executive Summary
This offering is for the Garnett Inn & Suites: A Prime Investment Opportunity in Morehead City, NC
Location Highlights:
Address: 3100 Arendell St, Morehead City, NC 28557
Situated in the vibrant Crystal Coast, famous for the NC Seafood Festival AND The Big Rock Fishing Tournament, this hotel offers a unique blend of coastal charm and business potential.
Property Overview:
Structure: A two-story, exterior corridor hotel built in 1986, featuring 100 rooms.
Land: Occupies a parcel of leased land with 57 years remaining on the lease.
Visibility and Access: Fronts Arendell Street, a busy main road with approximately 33,000 vehicles passing daily, enhancing visibility and accessibility.
Investment Advantages:
Market Dynamics: Benefits from robust demand driven by tourism, recreation, and the industrial activities of this port city.
Proximity to Attractions: Just an 8-minute drive (3 miles) from Atlantic Beach, making it ideal for leisure travelers. Also, conveniently located 96 miles from Wilmington and 150 miles from Raleigh, serving as a perfect stop or base for regional travel.
Operational Insights:
Performance Data: Potential buyers can request detailed financials including revenue, Net Operating Income (NOI), Average Daily Rate (ADR), and occupancy rates by requesting access to the Offering Memorandum (OM). This requires signing a confidentiality agreement for data protection.
Viewing and Acquisition:
Tours: Available by appointment only, no unannounced visits.
Agent Fee: Prospective buyers should note that the buyer’s agent fee is to be negotiated directly with the seller.
Why Invest Here?
This property represents a strategic investment in a market known for its steady growth in both tourism and local industry. With its prime location, long-term land lease, and solid performance metrics, Garnett Inn & Suites is not just an investment but a gateway to the thriving community of Morehead City, NC.
To take the next step towards owning this promising asset, prospective buyers are encouraged to request a tour and access the confidentiality agreement by clicking "Download OM" so we can share financials.
*Currently, please email or call for CA.*
Location Highlights:
Address: 3100 Arendell St, Morehead City, NC 28557
Situated in the vibrant Crystal Coast, famous for the NC Seafood Festival AND The Big Rock Fishing Tournament, this hotel offers a unique blend of coastal charm and business potential.
Property Overview:
Structure: A two-story, exterior corridor hotel built in 1986, featuring 100 rooms.
Land: Occupies a parcel of leased land with 57 years remaining on the lease.
Visibility and Access: Fronts Arendell Street, a busy main road with approximately 33,000 vehicles passing daily, enhancing visibility and accessibility.
Investment Advantages:
Market Dynamics: Benefits from robust demand driven by tourism, recreation, and the industrial activities of this port city.
Proximity to Attractions: Just an 8-minute drive (3 miles) from Atlantic Beach, making it ideal for leisure travelers. Also, conveniently located 96 miles from Wilmington and 150 miles from Raleigh, serving as a perfect stop or base for regional travel.
Operational Insights:
Performance Data: Potential buyers can request detailed financials including revenue, Net Operating Income (NOI), Average Daily Rate (ADR), and occupancy rates by requesting access to the Offering Memorandum (OM). This requires signing a confidentiality agreement for data protection.
Viewing and Acquisition:
Tours: Available by appointment only, no unannounced visits.
Agent Fee: Prospective buyers should note that the buyer’s agent fee is to be negotiated directly with the seller.
Why Invest Here?
This property represents a strategic investment in a market known for its steady growth in both tourism and local industry. With its prime location, long-term land lease, and solid performance metrics, Garnett Inn & Suites is not just an investment but a gateway to the thriving community of Morehead City, NC.
To take the next step towards owning this promising asset, prospective buyers are encouraged to request a tour and access the confidentiality agreement by clicking "Download OM" so we can share financials.
*Currently, please email or call for CA.*
Property Facts
| Price | $10,592,400 CAD | Building Size | 36,839 SF |
| Price Per Room | $105,924 CAD | No. Rooms | 100 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1987/2008 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 1.83/1,000 SF |
| Lot Size | 1.69 AC | Corridor | Exterior |
| Zoning | HC - Highway Commercial | ||
| Price | $10,592,400 CAD |
| Price Per Room | $105,924 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.69 AC |
| Building Size | 36,839 SF |
| No. Rooms | 100 |
| No. Stories | 2 |
| Year Built/Renovated | 1987/2008 |
| Tenancy | Single |
| Parking Ratio | 1.83/1,000 SF |
| Corridor | Exterior |
| Zoning | HC - Highway Commercial |
Amenities
- Business Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 100 | $569.00 CAD | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 6376.19.72.4303000 | Improvements Assessment | $183,115 CAD |
| Land Assessment | $1,614,831 CAD | Total Assessment | $1,797,946 CAD |
Property Taxes
Parcel Number
6376.19.72.4303000
Land Assessment
$1,614,831 CAD
Improvements Assessment
$183,115 CAD
Total Assessment
$1,797,946 CAD
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Coastal N.C. Hotel for Sale in Morehead City | 3100 Arendell St
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