213 Raleigh Avenue

About this home

Turnkey investment motel in the Heart of Carolina Beach. Rare opportunity to acquire the Carolina Beach Motel, formerly known as Cole's Motel, a fully renovated 21-unit motel located less than 1,500 feet from the beach and within walking distance to restaurants, shops, and the CB Boardwalk. The property sits on three 50x100 lots and operates as a pet-friendly, self-check-in motel with no on-site front office, allowing for efficient management and reduced overhead. The property is being sold fully furnished with all operational assets and the established business. The motel features 21 units with private bathrooms, offering several room types to accommodate a range of guests. All units are equipped with smart TVs, microwaves, mini or mid-size refrigerators, and Keurig coffee makers. The property underwent an extensive renovation beginning in 2022 across all three buildings, including new insulation, drywall, replacement of most sub-joists, new subfloors, LVP flooring, updated plumbing and electrical systems including fixtures, tile bathrooms with new vanities, toilets, and walk-in showers, four water heaters, and mini-split HVAC systems in each room. Additional improvements include a high-tech hardwired and monitored fire alarm system, security camera system, new wood railings and porch privacy walls, and landscaping throughout the property. Each unit has an on-site, designated parking space on a partially paved lot, with the remaining portion recently graveled in place of an outdated pool to provide sufficient guest parking. Operational infrastructure includes a housekeeping supply room with a new mop and hand sink, as well as a designated laundry area in the main building with washer and dryer hookups ready for installation. The motel recently reopened last year and currently operates across Airbnb, Expedia, Booking.com, and direct booking website, utilizing smart locks and remote guest communication. Visit the Carolina Beach Motel's website to explore the property, room types, and additional photos, then schedule a private showing to experience it in person.

Facts

Type

Commercial Sale

Year built

1955

Lot

0.34 acres

Community

Heart of Carolina Beach

County

New Hanover

MLS #

100559721

Features

About 213 Raleigh Avenue

213 Raleigh Avenue is a home, built in 1955, on 0.34 acres in Heart of Carolina Beach, Carolina Beach, New Hanover County, NC 28428.

11 other homes are for sale in Heart of Carolina Beach right now (median asking $899,000); 16 homes sold there in the last 12 months at a median of $592,500, typically in about 60 days.

It has been on the market for 195 days.

Heart of Carolina Beach neighborhood guideHomes for sale in Carolina BeachNew Hanover County homes

Buying 213 Raleigh Avenue

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