Morehead City Hospitality for Sale
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.*
