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    Property profile & analytics

    1003 Croatan Hwy Kill Devil Hills, NC 27948-8706

    • Hotels
    • 18,798 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimation
    $2,650,000
    Last Sale
    Apr 14, 2025
    $2,800,000
    Location Intelligence
    Property ID
    US53-3330482
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Outer Banks Inn / Hotel
    • Surfside Inn / Inn

    Property Details for 1003 Croatan Hwy

    Year built
    1985
    Lot size
    0.84 lot acres
    Property size
    18,798 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    4322000
    APU
    4322000

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,655,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,465,000
      6.5%
      $2,695,000
      7%
      $2,825,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,500,000
      Geo Method
      $2,425,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,775,000
      Retail
      $2,805,000
      Mixed-Use
      $3,175,000
      Hospitality
      $2,605,000
      Educational
      $2,280,000
      Residential Income
      $2,875,000
      Energy
      $2,470,000
      Income-Based Land
      $2,980,000
      Food Service
      $3,135,000

    Location Insight

    • Map
    • Local Demand
    City
    Kill Devil Hills
    County
    Dare
    State
    North Carolina
    Longitude
    -75.6559
    Latitude
    36.0066
    CBSA code
    28620
    CBSA name
    KILL DEVIL HILLS, NC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,035
    $406,800
    $1,318,500
    $1,725,300
    -
    $406,800
    $1,318,500
    $1,725,300

    Comparable in this City

    • Value Estimation by Request
      91,608 SF

      1701 Virginia Dare Trl

      HOTEL/MOTEL • 91,608 SF
      1701 Virginia Dare Trl, Kill Devil Hills, NC 27948-7756
      View Details
    • Value Estimation
      $5,560,000
      10,248 SF

      1801 Virginia Dare Trl

      HOTEL/MOTEL • 10,248 SF
      1801 Virginia Dare Trl, Kill Devil Hills, NC 27948-7941
      View Details
    • Value Estimation by Request
      42,376 SF

      401 Virginia Dare Trl

      HOTEL/MOTEL • 42,376 SF
      401 Virginia Dare Trl, Kill Devil Hills, NC 27948-7826
      View Details
    • Value Estimation by Request
      18,514 SF

      1731 Virginia Dare Trl

      HOTEL/MOTEL • 18,514 SF
      1731 Virginia Dare Trl, Kill Devil Hills, NC 27948-7940
      View Details
    • Value Estimation
      $10,945,000
      9,072 SF

      804 Virginia Dare Trl

      HOTEL/MOTEL • 9,072 SF
      804 Virginia Dare Trl, Kill Devil Hills, NC 27948-7833
      View Details
    • Value Estimation
      $625,000
      5,468 SF

      2009 Virginia Dare Trl

      HOTEL/MOTEL • 5,468 SF
      2009 Virginia Dare Trl, Kill Devil Hills, NC 27948-7761
      View Details

    Similar Nearby for Sale

    • $1,440,000
      4,800 SF

      Meineke Car Care Center

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    • $1,980,000
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      Kill Devil Hills Multifamily Development

      Approved multifamily development property with 33 units in Kill Devil Hills.
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      Sound Front Lot Opportunity

      Sound front lot in desirable Kill Devil Hills neighborhood.
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    • $7,421,818
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      Kill Devil Hills Retail Opportunity

      Large retail building in popular Outer Banks tourist destination.
      2012 S Croatan Hwy, Kill Devil Hills, NC 27948
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    • $1,750,000
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      Oceanfront Lot in Kill Devil Hills

      Prime oceanfront property, ideal for a dream home or vacation retreat.
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    • $649,000

      503 Croatan Highway

      Land
      503 Croatan Hwy, Kill Devil Hills, NC 27948
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,148 SF

      Retail Space in Kill Devil Hills

      Retail space available in a busy shopping center.
      1700 N Croatan Hwy, Kill Devil Hills, NC 27948
      View Details
    • Contact for pricing

      Kill Devil Hills Commercial Land

      Commercial land for lease in Kill Devil Hills, NC.
      2011 S Croatan Hwy, Kill Devil Hills, NC 27948
      View Details
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    Kill Devil Hills, NC 27948-8706
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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
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