213 Raleigh Ave - Hospitality FOR SALE


Carolina Beach, NC 28428
$4,750,000 USD
843-343-3210
213 Raleigh Ave, Carolina Beach, NC for Sale
$4,750,000 USD
Hospitality - FOR SALE
1/24
null | Request Cap Rate

213 Raleigh Ave
Carolina Beach, NC 28428


OVERVIEW

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on-site, designated parking space on a partially paved lot, with the remaining portion recently graveled in place of an outdated pool to provide sufficient guest parking.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.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$732 USD /SF

# OF ROOMS

21

PRICE/ROOM

$226,190 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carolina Beach Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1955

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

MX

APN/PARCEL ID

R09006-019-011-000,R09006-019-012-000,R09006-019-013-000

ASK ABOUT THIS PROPERTY

Cassandra TollensCassandra TollensMore Info
843-343-3210

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Cassandra TollensCassandra TollensMore Info
843-343-3210

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.