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    500 Arendell St Morehead City, NC 28557

    Sponsored
    For Sale
    $1,750,000

    Historic Downtown B&B, Huge Potential

    Property size:
    5,540 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Morehead City property, situated on a 0.08-acre lot at 500 Arendell Street, presents a unique investment opportunity. The 5,540 square foot building, originally constructed in 1920 and extensively renovated in 2004, boasts a Class B designation and is zoned DB. Currently operating as a successful bed and breakfast and AirBnB, the two-story structure features three residential living spaces, making it ideal for owner-occupancy. The property includes four parking spaces (two in off-street garages) and offers panoramic waterfront views from its rooftop deck and hot tub. Engineered for expansion, plans are in place to add up to five more rental units and event space, significantly increasing income potential. Its prime location in the historic district, near restaurants, shops, and the waterfront, ensures high demand. The building is a "Fortified Structure," designed to withstand Category 5 hurricane forces. This meticulously restored and renovated property offers substantial rental and event income possibilities, making it a compelling investment in a thriving downtown location. The property's APN is 638620814325000 and is offered fee simple. The asking price is $1,750,000.

    Property Features for 500 Arendell St

    General Information

    Property type
    Bed & breakfasts
    Square Feet
    5,540 SF
    Class
    B
    Lot Size
    3,485 SF

    Building Details

    Year Built/Renovated
    1920/2004
    Buildings
    1
    Stories
    2

    HighLights

    • Prime Morehead City Historic District location.
    • Walkable to restaurants, shops, and Big Rock Landing.
    • Convenient beach access on the Crystal Coast.
    • Hurricane‑resistant renovation and construction.
    • Expansion‑ready with pre‑approved plans.
    • Ample parking, both off‑street and on‑street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Art Farm Inc Farm

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morehead City
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.708342197799
    Latitude
    34.721036691765

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    FAQs

    What type of property is this?
    Bed & breakfast - Historic Downtown B&B, Huge Potential
    Where is this bed & breakfast located?
    The property is located at 500 Arendell St Morehead City, NC.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Prime Morehead City Historic District location.; Walkable to restaurants, shops, and Big Rock Landing.; Convenient beach access on the Crystal Coast.
    Request Owner's contact information
    500 Arendell St Morehead City, NC 28557
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    Morehead City, NC 28557
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    500 Arendell St Morehead City, NC 28557
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