Topsail Village Commercial is a rare, fully-entitled, mixed-use project situated along a highly desirable stretch of Scenic 30A. Property consists of 36 hotel rooms broken out in two buildings, an event building that is currently leased for $7500/month, and an additional vacant lot with an active development order for 39 additional hotel rooms. All 36 current hotel units are fully furnished including housewares. All rooms have been rented as non-smoking and not pet friendly. Parking areas and storm water retention have been completed for the existing buildings. Additional parking for proposed building will need to be completed. All buildings and grounds are well maintained and are in great condition.
Property is located less than a mile from public beach access at Topsail Hill State Preserve Park and less than 5-minutes to retail, entertainment, and restaurants. The Timpoochee Trail, an 18 mile bike/walking path along Scenic Highway 30-A is also right in front of the property.
This property is part of the Topsail Village Master Association which contributes to the upkeep of the roads, shared front landscape and landscape along the north road, along with the lift station and irrigation well. The commercial contribution at this time is approx. $1600 a month.
A two story office on site that is currently being used as a check in office for the hotel can be purchased separately.
** Seller may carry with substantial down payment. **
The subject property is being offered at $9,400,000 with an opportunity for a new owner to improve occupancy and cash flow. From completion, the property has been run and maintained by the Pauls family with tremendous focus on providing every customer with truly a unique experience. Each room is decorated slightly differently, with an emphasis on color, and giving each customer the feeling of "home away from home." The hotel focuses on catering to adults as you must be 25 years of age to book and children under 12 years of age are not allowed. Additionally, the hotel has been pet-free since being built. The hotel has been running at approximately 30% occupancy due to the restrictions on booking (min night requirements) and having limited staff which makes the potential for growth quite substantial.