6475 N Croatan Hwy - Office/Residential FOR SALE


Kitty Hawk, NC 27949
$3,975,000 USD
252-305-0881
6475 N Croatan Hwy, Kitty Hawk, NC for Sale
$3,975,000 USD
Office/Residential - FOR SALE
1/32
null | Request Cap Rate

6475 N Croatan Hwy
Kitty Hawk, NC 27949


HIGHLIGHTS

  • Stabilized mixed-use investment generating $210,605.52 current annual income w/contractual rent escalations increasing to ~$219,887 by June 2026
  • 100% occupied office suites and residential units with diversified revenue streams, Immediate upside through lease-up of 2 vacant storage/garage bays
  • Opportunity to increase NOI through transition to NNN lease structures upon renewal, estimated @ $22+k mo./ $265k annually
  • Highly Customizable Office Space, easy retrofitting of interior walls opens up use options
  • Prime location along one of the area’s highest traffic corridors at the foot of the Wright Memorial Bridge, gateway to the Outer Banks
  • Owner financing preferred, offering flexible acquisition structure for qualified buyers

OVERVIEW

$210K+ Income | Outer Banks Mixed-Use Investment | 100% Occupied | Owner Financing Stabilized mixed-use investment positioned at the foot of the Wright Memorial Bridge with exceptional highway visibility along one of the Outer Banks’ most trafficked commercial corridors. The property is currently 100% occupied and generating in-place gross income of $210,605.52 annually, with contractual lease escalations already in place. Based solely on existing leases, projected income increases to approximately $219,887 by mid-2026, with additional growth anticipated thereafter. NNN with escalations to $264+k next 5 years. The offering includes a two-story Class A–quality office building constructed in 2005, comprising six professional office suites over 8,000 sq ft with elevator access, ADA compliance, reception areas, and shared common spaces. The property also includes a detached mixed-use structure providing additional storage and residential income. Most existing leases are currently structured on a gross basis. Upon renewal, future ownership has the opportunity to transition leases toward a triple-net (NNN) structure, allowing operating expenses to be passed through to tenants and providing a clear path to increased net operating income without requiring rental rate increases. The detached rear building features multiple storage and garage bays, with one currently leased and two vacant, offering immediate lease-up potential and additional revenue opportunity. The second floor includes two one-bedroom apartments, 700 square feet each with private decks overlooking the Currituck Sound, creating an additional income stream and flexibility for employee housing or traditional residential tenancy. Owner financing is available and preferred. Seller will consider competitive fixed-rate financing with long-term amortization. Interest rate and structure are offer-dependent, with more favorable terms available for stronger offers. Seller financing is considered an integral component of the transaction structure. Located along the primary gateway to the Outer Banks, the property benefits from exceptional visibility and consistent year-round traffic flow in a supply-constrained coastal market with limited Class A office inventory. This offering presents a rare opportunity to acquire a stabilized income-producing asset with multiple revenue streams, built-in NOI growth potential, and long-term upside through lease restructuring and continued market rent growth.

FOR SALE DETAILS

PRICE

$3,975,000 USD

PRICE/SF

$497 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

47

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

Commercial

APN/PARCEL ID

021865010

ASK ABOUT THIS PROPERTY

Kiirsten FarrColdwell Banker Seaside RealtyMore Info
252-305-0881

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Kiirsten FarrColdwell Banker Seaside RealtyMore Info
252-305-0881

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