Property Type:
Comm Sale or Lease
Square Footage:
3,267
Lot Size (sq. ft.):
74,052
Status:
Closed
Current Price:
$2,225,000
List Date:
8/26/2021
Last Modified:
4/14/2022
Overview
Description
Presenting for sale the iconic Carolina Beach Pier, encompassing the pier house, pier and pay parking situated on +/- 1.7 acres of oceanfront land. Capitalizing on Pleasure Island's best sunrise to sunset views from Masonboro and Carolina Beach Inlet to the north to past Fort Fisher to the south, this offering provides one of the most unique opportunities in Southeastern North Carolina. The current main profit centers are High Tide Lounge, Low Tide Tiki Bar, Pier Grill and paid parking for over 100 vehicles. The subject carries full ABC permits including a rare carryout alcoholic beverage permit. Family ran for generations, the income is currently heavily cash based. Known as a destination for locals and tourists alike, Carolina Beach Pier enjoys strong sales volumes through shoulder and peak tourist seasons as well as steady volume through the offseason. Many opportunities for repositioning and value-add exist through strengthening management and personnel structures, expanding and elevating menu options, adding event and wedding rentals, film industry location, etc. The pier house underwent renovations and updates in 2018-2020 including a new roof, new HVAC, fresh interior and exterior paint, new hood in the commercial kitchen and refinished floors. Priced below tax value, this offering provides immediate cashflow and is positioned for increasing profits through multiple avenues
Last Updated: April - 14 - 2022
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