3324 S Virginia Dare Trail , Nags Head

$1,299,999

MLS#: 119595 Property Type: Commercial Address: 3324 S Virginia Dare Trail City / Zip: Nags Head, NC 27959 Area: Nags Head between hwys County: Dare Neighborhood: Geo T Stronach Year Built: 1970 Date Listed: 07/08/2022

Agent's Comments

**ROI**! Semi Ocean Front rental Machine. More than 12%+ ROI. LOW EXPENSES! Located directly across from a newly updated beach access and the Nags Head pier, this location is unbeatable. This former doctors office now houses two commercial tenants, year round. The larger of the two spaces has a kitchenette (possible break room), washer/dryer combo, three freshly painted, full sized rooms/offices with an open reception area and plenty of seating. This space is also equipped with a full bathroom. The second, smaller, commercial unit has one large space (with fridge) and separate bathroom. Parking is adequate for its current uses but is limited. The two residential units have separate entrances on the north side of building and in the back of the unit making it possible to not disrupt the businesses of the commercial tenants. The top unit is being rented as a 1 bedroom/1 den/1 bath unit offering its guests beautiful views and well appointed kitchen (with kitchen table nook) with stainless appliances. There is a King bed and a set of bunks. The living room opens up to a slider with a private deck for that unit (known as Anchors 2). There is a smart TV in the living room. The midlevel unit is the larger of two residential spaces with three bedrooms and two full baths. There is a large living room with a couch and love seat (some of the living room furniture has been updated since photos). The eat in kitchen has been freshly painted and stainless appliances (including a wine cooler and new fridge). There are smart TV's in the King bedroom (facing the ocean) and living room. This unit has a new HVAC unit (2021) The units are rented through airbnb and get overwhelmingly positive reviews due to the incredible location, cleanliness and upkeep. The upholstery and carpets (though a small amount) are routinely cleaned and look fresh upon guest arrival. Among guests, "Anchors" has a great reputation for being able to walk to some of the best bar/restaurants in Nags Head while walking out the front door and being at the beach access or the pier. These units rent year round with 2022 having more Jan/Feb/March rentals than in years past. These low maintenance/expense units have created, not only a high Gross Rental Income but also a considerable net profit at the end of the year. Using the current management platform, this entire property runs like a well oiled machine with few disruptions or interruptions from week to week.

*Listing provided courtesy of the Coldwell Banker Seaside Realty KH.
Interior Features
  • Air Conditioning: Central, Heat Pump
  • Floor Covering: Vinyl, Wood
  • Heating: Central, Electric, Forced Air, Heat Pump
External Features
  • Lot Description: Level
  • Roof: Asphalt/Fiber Shingle
Additional Features
  • Contruction: Frame
  • County: Dare
  • Property Sub Type: Quadruplex
  • View Description: Ocean
  • Year Built: 1970
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Listings provided courtesy of Coldwell Banker Seaside Realty KH and the MLS of the Outer Banks Association of Realtors®, Inc.

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