1903 S Croatan Highway, Kill Devil Hills, NC 27948

Property Description

This multi-use building is what every business needs in a prime location in KDH on the highway with an Annual Average Daily Traffic of 37,000 vehicles (NCDOT). Employee housing up top, center of town showroom or storage on the ground floor. Annual lease rental income is currently $2000/month and the ground floor has historically rented for $1200/month, potential annual rents of $38,000. You cannot get that rental performance from any other house for the price in the heart of Kill Devil Hills. The current tax value is $479,000. Already considered in the price are residential comparables, as well as the existing need for new septic, windows, water heater, siding, interior cosmetic finishes and various repairs, while it currently remains functional enough for rental income. Command light on this thriving business intersection. Adjoining lot is listed for sale MLS#127695. Multiple tenants with different schedules live at this property. Please do not enter the building without appointment. Central heating and cooling are for the ground floor shop area only; electric baseboard and window units are for heating and cooling in the residence. Existing window units convey. No septic information is available from Dare County. Home has had four bedrooms since built, and based on tank size, we have listed the home as four bedrooms.