Historic Triplex With Separate
For Sale
$694,900
Pending
418 W Hayman Boulevard, Kill Devil Hills, NC 27948
The property combines distinct living spaces with full kitchens and laundry facilities throughout.
Property Size2,650 SF
Days on Market123
Property Features for 418 W Hayman Boulevard
General Information
Standard status
Pending
Size
2,650 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR, 1 x 1BR, 1 x studio
Multifamily Units
3
Building Details
Building Size
2,650 SF
Year Built
1945
Construction
Outer Banks style
Listing Agency:
Atlantic Realty
Listed By:
Barbara Gudoski
(252) 261-2154
Source:
Coastsideproperties.kw
Added: Jun 15
Changed: Oct 3
Last Checked: Oct 14 at 7:57PM
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 Atlantic Realty
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Investment Insights
Based on property information with market context.
Constructed in 1945, this historic triplex comprises a three-bedroom main residence, a one-bedroom apartment, and an upstairs studio. The former garage now serves as the one-bedroom unit, while the former maids’ quarters have been converted into the studio. Each residence includes a full kitchen and washer/dryer. Water, electric, and internet are currently included in the rents. An interior stairway to the studio is closed off, preserving the existing separation between spaces.
The property is located at 418 W Hayman Boulevard in Kill Devil Hills. Hayman Boulevard provides ocean beach access with parking, sound access with several parking spaces, and a community park. The building was originally constructed on the oceanfront before being moved to its present location.
The property is located at 418 W Hayman Boulevard in Kill Devil Hills. Hayman Boulevard provides ocean beach access with parking, sound access with several parking spaces, and a community park. The building was originally constructed on the oceanfront before being moved to its present location.
Key Highlights
- Three‑bedroom main residence plus 1BR apartment and upstairs studio
- Built in 1945 and identified as a historic landmark
- Full kitchen and washer/dryer in each of the three units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,122
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,440
$782.4K
Cap Rate 7%
$558,886
$558.9K
Cap Rate 9%
$434,689
$434.7K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$58.8K $22.20/SF
− Vacancy
−$2.9K −$1.11/SF
EGI
$55.9K $21.09/SF
− OpEx
−$16.8K −$6.33/SF
NOI
$39.1K $14.76/SF
Area
Dare County, NC
Vacancy
5.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,440
Cap Rate 7%
$558,886
Cap Rate 9%
$434,689
Alternative Uses
Best Use
Multifamily LT 5
$558.9K
$489.0K – $652.0K
NOI $39,122 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$517.8K
$453.1K – $604.1K
NOI $36,245 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$639.6K
$559.7K – $746.2K
NOI $44,774 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The property combines distinct living spaces with full kitchens and laundry facilities throughout.
Where is this triplex located?
The property is located at 418 W Hayman Boulevard Kill Devil Hills, NC.
What is the asking price?
The asking price for this property is $694,900.
What are key features of this property?
This property features: Three‑bedroom main residence plus 1BR apartment and upstairs studio; Built in 1945 and identified as a historic landmark; Full kitchen and washer/dryer in each of the three units
