Two-Story Office
For Sale
$949,000
2701 N Croatan Highway, Kill Devil Hills, NC 27948
The tenant-occupied property offers office space across two levels.
Property Size2,241 SF
Price / SF$423.47
Days on Market88
Property Features for 2701 N Croatan Highway
General Information
Standard status
Active
Size
2,241 SF
Property subtype
Multi Unit
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$4,665
Building Details
Year Built
1980
Buildings
1
Stories
2
Listing Agency:
Resort Realty - Frisco
(252) 995-5500
Listed By:
John Head · License #187858
(252) 592-4629
Source:
Corollarealestate
Added: Aug 4
Changed: Oct 27
Last Checked: Oct 27 at 4:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Resort Realty - Frisco
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building contains approximately 2,241 square feet across two stories and is currently occupied by a tenant. Built in 1980, the property has an office layout suitable for professional or commercial use.
The building is located on N Croatan Highway in Kill Devil Hills, within the Outer Banks business corridor.
The building is located on N Croatan Highway in Kill Devil Hills, within the Outer Banks business corridor.
Key Highlights
- Approximately 2,241 square feet of office space
- Two‑story building constructed in 1980
- Currently tenant occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,430
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,600
$548.6K
Cap Rate 7%
$391,857
$391.9K
Cap Rate 9%
$304,778
$304.8K
Market Conditions
NOI Build-Up for 2,241 SF
Gross rent
$43.0K $19.20/SF
− Vacancy
−$6.5K −$2.88/SF
EGI
$36.6K $16.32/SF
− OpEx
−$9.1K −$4.08/SF
NOI
$27.4K $12.24/SF
Area
Dare County, NC
Vacancy
15.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,600
Cap Rate 7%
$391,857
Cap Rate 9%
$304,778
Alternative Uses
Best Use
Office B
$391.9K
$342.9K – $457.2K
NOI $27,430 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$540.9K
$473.3K – $631.1K
NOI $37,864 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 27948, NC
12,095
Population
10,143
Households
1.2
Avg Household Size
46
Median Age
43%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
1,301
Density / Sq Mi
$85,319
Median Household Income
$41,433
Median Earnings
$1,539
Median Rent
$398,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The tenant-occupied property offers office space across two levels.
Where is this office building located?
The property is located at 2701 N Croatan Highway Kill Devil Hills, NC.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Approximately 2,241 square feet of office space; Two‑story building constructed in 1980; Currently tenant occupied
