$2,200,000
$2,200,000
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111 Back Road Ocracoke, NC 27960
1.1 Acres Lot
Key Details
Sold Price $2,200,000
Property Type Commercial
Sub Type Hotel / Motel
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 117189
Sold Date 03/01/22
Year Built 1936
Annual Tax Amount $7,635
Tax Year 2021
Lot Size 1.100 Acres
Acres 1.1
Property Description
Blackbeard's Lodge is a historic, long-standing successful turn-key hotel business opportunity on Ocracoke Island! Blackbeard's Lodge was established in 1936 as the Wahab Village Hotel. It has since been a favorite for visitors seeking respite and fun on our little coastal island. This is the oldest operating hotel/lodge on the island, by more than 20 years! The current owner is the great-grand-nephew of the original owner, Robert Stanley Wahab; he and his wife have owned and operated the hotel since 2007. There are a total of 36 guest rooms, suites, and apartments - each with its own unique theme and character - which all offer comfort, warmth, and hospitality to decades of visiting vacationers. Some have King beds, some have kitchens, some have jetted tubs, and some allow pets. Other unique amenities include: a fun updated game room with numerous game tables; an outdoor swimming pool; numerous porches and decks with porch swings and comfortable lounge furniture for guests to enjoy the island breezes; the impressive lobby, furnished and outfitted with historic charm and comfort; access to bicycles and golf carts which can be rented by guests, and much more! Blackbeard's is in a prime, central location in the heart of the village - between two of the island's wonderful restaurants, and a short walk from shopping, other restaurants, historic attractions, and anything else on the island. A detailed brochure is included in the documents available for download, with more pictures and a more detailed historic account of this property, and its history on Ocracoke. All of the furniture and decor will convey, making this a true "turn-key" opportunity! Over $600k of renovations have been completed over the last three years, with a handful of final projects being wrapped up over this winter and early spring! Renovated and updated rooms with HDTVs are just some of the advantages an investor will get when purchasing this successful business. Fully-staffed, the property and business can convey smoothly, without any wrinkles to the ongoing operations during transition. For an investor-owner seeking a "hands-off" investment, there is a viable management structure in-place that can be finalized with the potential new owners, so both an owner-operator wanting a more "hands-on" opportunity, or an owner-investor wanting management and operations in-place without their active involvement are able to be accommodated. *Call the Listing Firm or Listing Agent for more information and details on the aforementioned, and with any questions! **Any buyer's agent, prospective buyer, or representative of a potential buyer will need to sign an NDA/confidentiality agreement prior to showing; this will also allow us to provide all of the financial details and revenue/expense history for review.
Location
State NC
County Hyde
Area Ocracoke
Zoning none
Exterior
Garage 26-50 Spaces, Parking Lot, Off Street, Unpaved
Waterfront Description None
View Park Serv./Preserve, Salt Marsh
Building
Lot Description Level
Lot Size Range 354' x 328.13' x 242.06'
Sewer Private Septic
Others
Restrictions See Broker Notes
Acceptable Financing Owner Finance
Listing Terms Owner Finance
Financing Cash,Commercial,Owner Finance 1st,Trade/Exchange,Other-See Remarks
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Bought with Edward Denton • Coastlinie Commercial, LLC d/b/a Denton Realty Company