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Property profile & analytics
OFF-MARKET
Estimated value
$2,740,000
Hotels
1003 Croatan Hwy, Kill Devil Hills, NC 27948-8706
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-3330482
Property summary
AI-generated overview
This exceptional investment opportunity presents the fee-simple interest in the Outer Banks Inn, a 40-key hotel ideally situated in Kill Devil Hills, North Carolina. Boasting 18,798 square feet on a 0.84-acre lot (36,500 sq ft), this three-story property offers significant value-add potential. Built in 1985 and extensively renovated in 2021, the Inn presents a turnkey operation with a strong historical performance. The property's financial projections indicate a pro-forma cap rate of 10.80% and a pro-forma NOI of $345,521, translating to a price per key of $79,975 and a price per square foot of $170.18. Located at 1003 S Croatan Hwy, Kill Devil Hills, NC 27948 (APN: 04322000), the Outer Banks Inn benefits from its prime location within a thriving coastal community in Dare County. This established hotel presents a compelling investment opportunity for discerning buyers seeking a strong return on investment in a desirable coastal market. The asking price for this exceptional property is $3,199,000. Serious inquiries only.
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1985
Total area
18,798 SF
Lot
0.84 ac (36,500 SF)
APN
4322000
UPID
US53-3330482
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Outer Banks Inn Hotel & Motel
-
Surfside Inn Hotel & Motel Bed & Breakfast
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.71M
CAP Approach
CAP
$2.18M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.74M
Owner & transaction history
Ocean Inns Nc LLC · 1 yrs held
Ocean Inns Nc LLC
since 2025
Last sale
$2.8M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+32.4%
Commercial (general)
$2.3M
+5.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Kill Devil Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kill Devil Hills submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,655,000
ML approach
$2,705,000
CAP Approach
CAP Return
Estimation
6%
$2,355,000
6.5%
$2,175,000
7%
$2,020,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,150,000
Current use
RESTAURANT
$2,845,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,270,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$2,055,000
Change: -4% · Conversion: Difficult
MEDICAL BUILDING
$2,005,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$2.74M
Range $2.47M – $3.01M · ±10% · vs last sale $2.80M (Apr 14 2025)
Last sale anchor
$2.80M
Apr 14 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$146 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$13,035
Tax year 2024
Assessed value
$1,725,300
Assessed 2024
Previous assessed
$1,725,300
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$406,800
Assessed improvement
$1,318,500
Land market value
$406,800
Improvement market value
$1,318,500
Total market value
$1,725,300
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1985
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
3
Bathrooms
42
Total area
18,798 SF
Lot
0.84 ac (36,500 SF)
APN
4322000
UPID
US53-3330482
Jurisdiction
DARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.2M
RESTAURANT
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.0M
HOTEL/MOTEL Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
3
Bathrooms
42
Lot
0.84 ac
Current owner
From public records · entity-resolved
Ocean Inns Nc LLC
Entity
Mailing address
PO BOX 2088, MANTEO, NC 27954-2088
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2025
$2,800,000
Ocean Inns Nc LLC
Mahant LLC
Special Warranty Deed
$3,396,000 · Berkshire Bank
Jan 17, 2019
$2,100,000
Mahant LLC
Obx Inn LLC
Warranty Deed
$1,400,000 · Tbnct LLC
Feb 17, 2012
$800,000
Obx Inn LLC
Jolly Rogers INC
Deed
$550,000 · Jolly Rogers INC
Nov 8, 2011
$887,065
Jolly Rogers INC
Outer Bank LLC
Deed
—
Nov 8, 2010
$900,000
Outer Bank LLC
Jolly Rogers INC
Warranty Deed
$830,000 · Jolly Rogers INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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