Technical
Financial
Distress signals
Property profile

6684 Caratoke Hwy Grandy, NC 27939

OFF-MARKET
Turn key restaurants
Property ID
US53-0112733
1,820 SF 1.37 ac lot Built 1995
Entity Owned 1-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional turnkey business opportunity in Grandy, NC, presents a fully renovated Mel's Diner, ideally situated on Caratoke Highway. The diner boasts a retro atmosphere complete with a jukebox and ample seating, including tables, booths, and counter service, catering to diverse customer preferences. The well-equipped kitchen features a streamlined prep line, updated equipment, and ample walk-in refrigeration. Outside, a dedicated storage shed and walk-in freezer provide convenient storage, especially beneficial for deliveries outside operating hours. The property includes 21 parking spaces, including one handicapped-accessible space. A significant advantage is the inclusion of an adjacent building, offering versatile potential. This secondary structure, with 11 parking spaces (including one handicapped-accessible space), features a bathroom, laundry room, and a large open area, suitable for various uses such as a bakery, prep kitchen, or rental office space. The substantial backyard provides additional parking, ideal for RVs or trucks, making this location particularly attractive to travelers to and from the Outer Banks. The combined properties offer a unique and lucrative investment opportunity. The asking price is $699,000.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1995
Total area 1,820 SF
Lot 1.37 ac (59,677 SF)
Zoning code GB
APN 0108000069A0000
UPID US53-0112733

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Cafe & Coffee Shop

Location

6684 Caratoke Hwy Grandy, NC 27939-9623
Grandy metro Census 110404 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

since 2025
Last sale
$699,000
3 recorded transactions
2025
$699,000
2009
Price N/A
2008
Price N/A

Zoning & alternative use

GB · Grandy, NC

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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