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3118 N Croatan Hwy - Executive Center 4,800 SF Office/Medical Condo Unit Offered at $1,526,239 CAD in Kill Devil Hills, NC 27948
Investment Highlights
- Recent renovations completed in 2021 enhance building quality and tenant experience.
- Positioned in a high-traffic area with seasonal population surges, supporting long-term occupancy stability.
- Includes 20 parking spaces and modern amenities such as fiber optic internet and ADA accessibility.
- Located at a signalized intersection along Croatan Highway, ensuring strong visibility.
Executive Summary
The property is a two-story office building located at 3118 N Croatan Hwy in Kill Devil Hills, North Carolina. It is part of the Executive Center and sits on a 1.63-acre lot. The building has a gross area of 4,480 square feet and was originally constructed in 1987, with renovations completed in 2021. It is zoned for commercial use and includes 20 parking spaces. The property is currently 100% leased to multiple tenants, including a primary tenant on the first floor under a five-year lease with renewal options.
Property Facts
| Total Building Size | 15,608 SF | Typical Floor Size | 7,804 SF |
| Property Type | Office (Condo) | Year Built | 1987 |
| Property Subtype | Medical | Lot Size | 1.63 AC |
| Building Class | B | Parking Ratio | 4.46/1,000 SF |
| Floors | 2 | ||
| Zoning | Commercial - Commercial | ||
| Total Building Size | 15,608 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 2 |
| Typical Floor Size | 7,804 SF |
| Year Built | 1987 |
| Lot Size | 1.63 AC |
| Parking Ratio | 4.46/1,000 SF |
| Zoning | Commercial - Commercial |
Amenities
- Signage
- Wheelchair Accessible
- Reception
- Air Conditioning
- Fiber Optic Internet
1 Unit Available
Unit A-1
| Unit Size | 4,800 SF | Sale Type | Investment |
| Price | $1,526,239 CAD | Cap Rate | 5.98% |
| Price Per SF | $317.97 CAD | NOI | $91,284.36 CAD |
| Condo Use | Office/Medical | APN/Parcel ID | 007693000 |
| Unit Size | 4,800 SF |
| Price | $1,526,239 CAD |
| Price Per SF | $317.97 CAD |
| Condo Use | Office/Medical |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| NOI | $91,284.36 CAD |
| APN/Parcel ID | 007693000 |
Description
This condo is a two-story, multi-use condo unit. Zoned Commercial. Existing tenants in place.
Sale Notes
Multi office Unit with one primary tenant on the first floor and six more on the second floor located in the Executive Center on the corner of Croatan Hwy and W. Helga St. corner of . Primary first floor tenant is on a 5 year lease with options to renew. 100% Occupied. Recent Appraisal on file. One or more of the owners are licensed North Carolina Real Estate Brokers.
Presented by
Resort Realty of The Outer Banks, Inc.
3118 N Croatan Hwy - Executive Center
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