3100 Arendell St

This offering is for the Garnett Inn & Suites: A Prime Investment Opportunity in Morehead City, NC Location Highlights: Address: 3100 Arendell St, Morehead City, NC 28557 Situated in the vibrant Crystal Coast, famous for the NC Seafood Festival AND The Big Rock Fishing Tournament, this hotel offers a unique blend of coastal charm and business potential. Property Overview: Structure: A two-story, exterior corridor hotel built in 1986, featuring 100 rooms. Land: Occupies a parcel of leased land with 57 years remaining on the lease. Visibility and Access: Fronts Arendell Street, a busy main road with approximately 33,000 vehicles passing daily, enhancing visibility and accessibility. Investment Advantages: Market Dynamics: Benefits from robust demand driven by tourism, recreation, and the industrial activities of this port city. Proximity to Attractions: A few blocks from the intracoastal waterway, and a 3 mile drive to Atlantic Beach, making it ideal for leisure travelers. Also, conveniently located 96 miles from Wilmington and 150 miles from Raleigh, serving as a perfect stop or base for regional travel. Operational Insights: Performance Data: Potential buyers can request detailed financials including revenue, Net Operating Income (NOI), Average Daily Rate (ADR), and occupancy rates by requesting access to the Offering Memorandum (OM). This requires signing a confidentiality agreement for data protection. Viewing and Acquisition: Tours: Available by appointment only, no unannounced visits. Agent Fee: Prospective buyers should note that the buyer’s agent fee is to be negotiated directly with the seller. Why Invest Here? This property represents a strategic investment in a market known for its steady growth in both tourism and local industry. With its prime location, long-term land lease, and solid performance metrics, Garnett Inn & Suites is not just an investment but a gateway to the thriving community of Morehead City, NC. To take the next step towards owning this promising asset, prospective buyers are encouraged to request a tour. Please email or call for access the confidentiality agreement.