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3118 N Croatan Hwy - Executive Center 4,800 SF Office/Medical Condo Unit Offered at $1,515,954 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.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 007693000 |
| Cap Rate | 5.98% |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| 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.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit A-1 | 4,800 SF | Office/Medical | $1,515,954 CAD ($315.82 CAD/SF) | $90,669.21 CAD |
Unit A-1
| Unit Size |
| 4,800 SF |
| Condo Use |
| Office/Medical |
| Price |
| $1,515,954 CAD ($315.82 CAD/SF) |
| NOI |
| $90,669.21 CAD |
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Unit A-1
| Unit Size | 4,800 SF |
| Condo Use | Office/Medical |
| Price | $1,515,954 CAD ($315.82 CAD/SF) |
| NOI | $90,669.21 CAD |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| APN/Parcel ID | 007693000 |
| Description | |
| This condo is a two-story, multi-use condo unit. Zoned Commercial. Existing tenants in place.</li></ul> | |
| 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.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| 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 1
Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
50/100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
Resort Realty of The Outer Banks, Inc.
3118 N Croatan Hwy - Executive Center
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