Sold

Closed

622 N New River Drive

Surf City NC, 28445

$7,000,000


$1,166.67 per sqft

Sold

Closed

6,000 sqft

Other

Built in 1950

Rare investment opportunity to own this highly productive 30 unit motel, a historical landmark on Topsail Island! Situated in the prime Surf City area of Topsail Island, North Carolina, the historic Loggerhead Inn & Suites has been a fixture in the Topsail community since the 1950s. The Inn was one of the first family-owned motor inns to serve visitors to Topsail Island and it has been welcoming guests from across the United States ever since. In 2020, the Inn's current owners completely renovated the property and brought it up to today's modern standards and technology while preserving its unique history and character. This incredible property is on almost an acre of land, one block from the beach, which beach access within sight.

There are a total of 30 rooms, 9 two bedroom suites with kitchenettes, 20 one-bedroom suites, and one two bedroom cottage with a full kitchen and living space. This incredible property has a large outdoor swimming pool with bathroom, a large gated outdoor area with a gazebo/pavilion for guests or large parties or private events, 6 outdoor shower/changing areas, and plenty of parking. Priced at an 8% cap rate of current operating margins. Full financial details are available upon request.

100327965

MLS ID

May 15, 2022

Listed

July 13, 2024

Updated

Map

622 N New River Drive
Surf City NC, 28445

Interior Features

Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Electric

Exterior/Building Features

Lot Size

0.96 Acres

Other Property Details

Days on Market

2


Garage

No


Parking Total

40


View

No


County

Pender


Pool

No


Zoning

Mixed Use

Courtesy of BlueStar Real Estate, LLC with Kristin K Freeman,
Listing Contact: 910-508-6077 

 

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Data last updated 1:45 PM UTC, 7/13/2024

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