Fairfield Harbour Waterfront Restaurant Motel and Events Space

Retail-Commercial for Sale
Catylist Listing ID: 30165902
Property Subtypes: Free-Standing Building, Restaurant, Other
Building Size (RSF): 12,000 SF
Gross Land Area: 0.67 Acres
Sale Price: $1,250,000
Unit Price: $104.17 PSF
Property Use Type: Vacant/Owner-User
Building Name: 100 Marina Dr
Usable Size (USF): 12,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/7/2017

Overview / Comments

Outstanding waterfront opportunity in Fairfield Harbour. .67± acre site improved with a 12,000± SF masonry building. The property contains 6 nice hotel rooms, each with a water view. and 1 suite with its own kitchen area and a jacuzzi in the bathroom. Each of the upstairs rooms has it's own private balcony overlooking the marina.

The property has a restaurant/bar with large kitchen that includes existing equipment in the purchase price. The previous operator had a nice Italian concept. This is a perfect opportunity for an owner operator to re-open the restaurant/bar and remodel the existing hotel rooms. There is additional space which could be used for an events venue, or demised and leased as additional shop space (coffee shop, provisions store, ice cream etc.) The kitchen is large enough to dedicate a portion to the restaurant and separate kitchen area to support a catering operation.

The lot and building are owned in fee and has wonderful 180 degree waterfront sunset views with no obligation to maintain the docks. You have a captive audience to an approximately 275 slip marina surrounding the property, as well as the entire Fairfield Harbour resort community. Fairfield Harbour includes approximately 1,250 homes ranging from single family, condos and timeshares, an 18 hole golf course, and indoor and outdoor pool facilities.

The property is well built and is in generally good shape, but does need some cleaning/power washing, attention to some deferred maintenance, HVAC work and cosmetic updating.

This is a wonderful investment opportunity for an operator with a vision and the ability to manage multiple business opportunities/income streams.

Based on room rates that the current owner has achieved in the past, at 35% occupancy, the rooms alone could generate close to $100,000 in room revenue annually.

Please call me with any questions or to arrange a tour.

Additional Details

Nearest MSA: New Bern
County: Craven
Taxing Authority: Craven County
Tax ID/APN: 2-029-1000 48681
Zoning: N/A
Retail Clientele: General, Traveler, Tourist, Recreation
Property Visibility: Good
Largest Nearby Street: NC Hwy 55 and Half Moon Road
Feet of Frontage: 298
Highway Access: From NC Hwy 55 E to Half Moon Road to Marina Drive
Airports: Coastal Carolina Regional (EWN)
Site Description: .67± acre waterfront parcel with approximately 298' of waterfront and about 180 degree waterfront views.
Area Description: Located on the waterfront in Fairfield Harbour, a resort community that includes an 18 hole golf course, indoor and outdoor pool facilities as well as approximately 1,250 homes ranging from single family, condos and timeshares. Approximately 9 miles to downtown New Bern.
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Average
Year Built: 1987
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Attractive masonry block constructed building that is built for easy maintenance and durability to the waterfront environment
Parking Type: Surface
Parking Description: Abundant surface parking is available in two adjacent parking lots with the potential to create some additional onsite parking with approvals. See broker for details regarding the parking.
Sprinklers: None
Heat Type: Propane
Heat Source: Central
Air Conditioning: Package Unit, Window Unit
Interior Description: Interior is built out as hotel rooms/suites and restaurant, bar and events space.
Zoning Description: It is my understanding that there is no zoning on the property.
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Septic
Easements: Ingress/Egress
Easements Description: Access to the property is via private roads.
Land Ownership: Fee

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,410 7,474 20,120
Median Age: 63 49.99 43.16
Households: 1,199 3,212 8,499
© Copyright Cape Fear REALTORS®. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Cape Fear REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.