First Colony Inn – Historic Outer Banks Inn with Oceanfront Development Opportunity A rare opportunity to acquire one of the most iconic hospitality properties on the Outer Banks. Located in the heart of Nags Head, the historic First Colony Inn offers timeless coastal charm paired with a unique oceanfront investment component. Originally constructed in 1932 and listed on the National Register of Historic Places, the inn is one of the last remaining examples of the classic “Old Nags Head style” beach hotels that once defined the Outer Banks. The shingle-style structure features expansive wraparound verandas designed to capture ocean breezes and provide inviting spaces for guests to relax and gather. The property includes 26 uniquely appointed guest rooms, many offering kitchenettes, sitting areas, whirlpool tubs, or private porches.Amenities include a seasonal outdoor pool, landscaped grounds, welcoming common areas, and convenient beach access nearby. The inn has long been a favorite destination for weddings, reunions, and coastal getaways, with strong repeat clientele and year-round tourism demand.Included in the offering are oceanfront parcels totaling approximately 210 feet of direct Atlantic Ocean frontage, presenting a rare and valuable opportunity for future development, expansion, or preservation of premier beachfront property. Oceanfront land in this location is exceptionally limited, making this component a significant investment asset. With nearly a century of history, strong brand recognition, and the added value of substantial oceanfront holdings, the First Colony Inn represents a turnkey hospitality investment combined with a prime coastal real estate opportunity in one of North Carolina’s most sought-after beach destinations. Also includes PIN #s: 080011660610, 080011569762. Property to be sold as one offering including the motel and oceanfront lots. Prior to scheduling a showing, buyer must submit either proof of funds or bank letter. Property has been leased for a number of years so no recent financial information is available. Property is currently under a lease through 12/31/26. Additional pictures available upon request.