1900 Croatan Hwy Kill Devil Hills, NC 27948-9260
Property profile & analytics
1900 Croatan Hwy Kill Devil Hills, NC 27948-9260
- Retail space
- 2.32 lot acres
Property ID
US53-3204731
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.
Location Intelligence
Current Use by Public Records
- Country Deli / Food Market / Restaurant
- Buffalo City Jug Shop / (Bike/Boat/Book/etc) Store / Bar & Pub
- Future Site of Wawa / Association Or Organization
- Wawa / Cafe & Coffee Shop
Property Details for 1900 Croatan Hwy
- Lot size
- 2.32 lot acres
- Property type
- Retail space
- APN
- 29831000
- APU
- 29831000
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 6,000 square foot Wawa convenience store and gas station located at 1900 N Croatan Hwy, Kill Devil Hills, NC 27948. The property boasts a 20.1-year absolute NNN ground lease with a corporate guarantee from Wawa, Inc., a nationally recognized and established brand with over 1,000 locations. The lease commenced May 15, 2024, and expires May 31, 2044, offering a substantial remaining term of 19.5 years. Rent bumps of 10% every 5 years ensure consistent income growth. The property sits on a 2.32-acre lot in a high-traffic retail corridor, experiencing 36,184 vehicles per day, and is strategically positioned across from a Target store. With a 4.75% cap rate and a net operating income (NOI) of $292,000, this asset offers a compelling return on investment. The asking price is $6,147,000, translating to $1,024.50 per square foot. The property's location in Kill Devil Hills, an affluent town with a strong average household income, further enhances its appeal. The lease includes six 5-year renewal options, providing long-term stability and predictable cash flow. This is a truly exceptional opportunity for passive investors seeking a management-free, high-yield investment with a best-in-class tenant. The property is suitable for a 1031 exchange.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $6,280,000
- ML approach
- $6,105,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Kill Devil Hills
- County
- Dare
- State
- North Carolina
- Longitude
- -75.6752
- Latitude
- 36.0363
- 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
$8,885
$1,176,100
$0.00
$1,176,100
-
$1,176,100
$0.00
$1,176,100
