500 Arendell St Morehead City, NC 28557
- Office buildings
- 3,038 SF
- 0.08 lot acres
Current Use by Public Records
- Art Farm Inc / Farm
Property Details for 500 Arendell St
- Year built
- 1920
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.08 lot acres
- Property size
- 3,038 SF
- Zone code
- CD
- Property type
- Office buildings
- APN
- 6386.20.81.4325000
- APU
- 638620814325000
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morehead City
- County
- Carteret
- State
- North Carolina
- Longitude
- -76.7085
- Latitude
- 34.7213
- CBSA code
- 33980
- CBSA name
- MOREHEAD CITY, NC MICROPOLITAN STATISTICAL AREA
