622 N New River Drive, Surf City, NC 28445

Description

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.