Storefront Building with
For Sale
$750,000
502 S Croatan Highway lot 16A, Kill Devil Hills, NC 27948
COMMERCIAL/INDUSTRIAL, Kill Devil Hills, NC
Property Size3,000 SF
Lot Size0.40 Acres
Price / SF$250
Days on Market308
Property Features for 502 S Croatan Highway lot 16A
General Information
Property type
Residential
Property subtype
Retail
Zoning
C
Subdivision
Kitty Hawk Shrs
Lot features
Roof Sign, Storage Building
Standard status
Active
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4272
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
storage shed
deck
kitchenette
Building Details
Year built
1972
Flooring type
Wood
Building materials
Frame
Roof type
Shingle
Listing Agency:
Harrell & Associates
(252) 441-7887
Listed By:
Kate Harrell · License #281194
(252) 423-0820
Added: Dec 1, 2025
Changed: Aug 19
Last Checked: Oct 5 at 6:06PM
MLS# 131221
Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This C-zoned storefront property includes a 3,000-square-foot building on a 17,500-square-foot lot. The ground level offers an open layout with hardwood and tile flooring, a restroom, storage closet, and a large front deck. An interior staircase leads to the second floor, where the current workshop configuration includes a kitchenette and vaulted ceilings. A separate storage shed adds utility to the site.
Located in Kill Devil Hills on S Croatan Highway, the property has double curb cuts for site access. The building dates to 1972 and features frame construction, a shingle roof, central heating, and central air conditioning. The property currently uses a private septic system, with the possibility of exploring a sewer connection to expand the usable site area.
Located in Kill Devil Hills on S Croatan Highway, the property has double curb cuts for site access. The building dates to 1972 and features frame construction, a shingle roof, central heating, and central air conditioning. The property currently uses a private septic system, with the possibility of exploring a sewer connection to expand the usable site area.
Key Highlights
- 3,000‑square‑foot building on a 17,500‑square‑foot lot
- C zoning in Kill Devil Hills, NC
- Double curb cuts provide site access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,050
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$881,000
$881.0K
Cap Rate 7%
$629,286
$629.3K
Cap Rate 9%
$489,444
$489.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$68.4K $22.80/SF
− Vacancy
−$5.5K −$1.82/SF
EGI
$62.9K $20.98/SF
− OpEx
−$18.9K −$6.29/SF
NOI
$44.0K $14.68/SF
Area
Dare County, NC
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$881,000
Cap Rate 7%
$629,286
Cap Rate 9%
$489,444
Alternative Uses
Best Use
Retail
$629.3K
$550.6K – $734.2K
NOI $44,050 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$724.1K
$633.6K – $844.8K
NOI $50,688 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
20k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 21%
Hotels & Casinos 6%
Circle K
Shops & Services
7,630 visits/mo
0.2 miles
Shell
Shops & Services
5,711 visits/mo
0.2 miles
Dairy Queen
Dining
4,352 visits/mo
0.2 miles
Exxon
Shops & Services
1,314 visits/mo
0.3 miles
Quality Inn Carolina Oceanfront
Hotels & Casinos
708 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C-zoned commercial property with open ground-floor space, restroom, storage, and an upper-level kitchenette.
Where is this storefront property located?
The property is located at 502 S Croatan Highway lot 16A Kill Devil Hills, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,000‑square‑foot building on a 17,500‑square‑foot lot; C zoning in Kill Devil Hills, NC; Double curb cuts provide site access
