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111 Back Road

Ocracoke, NC 27960
  • $2,200,000
  • STATUS: Active Under Contract
  • ON SITE: 13 Days
  • MLS #: 117189
Under Contract
UPDATED: 58 min ago
$2,200,000
  • 0
    BEDS
  • 1.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1936
County:
Area:

School Ratings & Info

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.

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© 2022 Outer Banks Association of Realtors MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Brindley Beach Vacations & Sales. Data last updated: 2022-01-19T11:37:38.787.
www.brindleyobxsales.com/homes/124464797
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111 Back Road Ocracoke, NC 27960

  • Price: $2,200,000
  • Status: Active Under Contract
  • On Site: 13 Days
  • Updated: 58 min ago
  • MLS #: 117189
0
Beds
0
Baths
0
½ Baths
1.1
Acres
1936
Built
Neighborhood:
Ocracoke
County:
Hyde
Area:
Ocracoke
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.
Exterior Features

Construction FrameWood Lot Description Level Lot Faces Southeast Lot Size Dimensions 354' X 328.13' X 242.06' Parking Garage 26-50 SpacesParking LotOff StreetUnpaved Roads PavedPrivatePublic Street Frontage 354 View Description Park Serv./PreserveSalt Marsh Waterfront Location None

Interior Features

Hotel Motel Sq Ft 26194 Warehouse Sq Ft 997

Property Features

Actual Income 1400000 Bank Owned YN No Business Name Blackbeard's Lodge Business Or Real Estate Bus/ Bldg/ Lf Simple Commercial Features Employee LoungeEquip. ConveysHandicap FeaturesInventory ConveyLiving QuartersOutdoor PoolPublic Restroom (S)Smoke AlarmWindow DisplayBillboard Commercial Type Hotel / Motel Current Use Hotel/Lodge Documents On File DeedHouse PlansLand SurveyLead Based Pt. Dis.Recorded Plat Estimated Income 1400000 Financing Options CashCommercialOther-See RemarksOwner Finance 1StTrade/Exchange Flood Zone Ae Full Subdivision Name Wahab Village Subdivision Gross Income Range $800001 - $1.6 M Permitted Use HotelOther Possession At ClosingNegotiableOther-See Remarks Potential Short Sale No Property Features DumpsterGutter(S)Outside StoragePartially FencedPole SignStorage Building Sewer Septic Private Septic Tax Year 2021 Taxes 7635 Tenant Pays Other-See Remarks Water Municipal Water Zoning None

Listing courtesy of Bill Rich of The Rich Company Of Ocracoke/Obx.


© 2022 Outer Banks Association of Realtors MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Brindley Beach Vacations & Sales. Data last updated: 2022-01-19T11:37:38.787.
 
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