8802 Reed Drive $1,990,000

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    8802 Reed Drive Emerald Isle, NC 28594

    Pending with Showings
    Request Info
    • 9,600 sq. ft.
    • Commercial Sale
    • MLS# 100310104
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    Views: 53 Days On Site: 196

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    Property Details

    What you focus on expands - now is the time to make your dreams come true!! Are you looking to expand your commercial portfolio or possibly searching for the perfect parcel to invest in?! Do you have a business plan that you want to implement but don't have the physical space to do so? Look no further than this ''gem'' located on the Crystal Coast and Bogue Banks! By most measures, Emerald Isle is among the largest of the 21 oceanfront municipalities in North Carolina and has 2nd lowest property tax rate among those towns. Rare opportunity to own acreage located directly on Hwy 58 in Emerald Isle within the business district! Opportunity awaits the right investor with a streamlined growth mindset. The subject property is two contiguous commercial parcels that comprise 1.27 gross acres (55,321 gross square feet [SF]). The usable upland area is 1.27 acres (55,321 SF). It is improved with a 9,600 square feet (SF) commercial condominium building and zoned for a Business District use. The building is currently at 100% occupancy rate and the current Owners have been proactive in the maintenance of the property so this transition can be seamless and turn-key. We are excited to provide the opportunity for you to partner with local zoning boards to create an outstanding mix of future growth specific to this property. Emerald Isle has become a top destination for weddings, vacationing, shopping, dining and entertainment with local events and attractions that keep full time residents as well as second home and short term vacationers coming back year after year. Emerald Isle is a wealthy Coastal community providing upwards of 20% of the County's total taxable value . The permanent population of Emerald Isle is approx. 3,784 while the peak-season population is upwards of 40,000. Emerald Isle features only 200 acres zoned for commercial and mixed use (of total 3,200 acres) ~ 6% of the island and this property encompasses 1.27 acres out of the 200. This property is adjacent to multiple maintained roads with tremendous exposure in addition to being located directly along the Emerald Isle Bike path and can be visibly seen from both Emerald Drive (State Highway 58) and local street Reed Drive. The parking is shared. Current tenants in place include: Mexican Restaurant, Café & Bakery, Real Estate office and affiliated vendor partners all under one roof! Don't miss out on this once in a lifetime purchase! The future growth is exponential with the harmonious efforts the local business owners, residents, Town, County officials and tourists invest in this 5.2 mile stretch of prime real estate alone! Financials and leases shared with fully executed NDA.

    • General Features
      • Year Built 1994
      • Subdivision Not In Subdivision
      • Square Feet 9,600
      • New Construction No
      • Cobra Zone No
      • Lot Acres 1.27
      • City Limits Yes
      • County Carteret
      • Hoa Amenities See Remarks
      • HOA No
      • Stipulation of Sale None
    • Building Features
      • Foundation Slab
      • Flooring See Remarks
      • Exterior Finish See Remarks
      • Basement None
      • Attic None
      • Construction Steel Frame
    • Property Features
      • Road Type Frontage Maintained,Paved,Public (City/Cty/St)
      • Lot Water Features None

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    Neighborhood

    28594 (Emerald Isle) Demographics

    57 Median Age
    180 Population Density (per sq. mile)
    60% College Educated
    $84,457 Estimated Median Income
    1,423 Estimated Total Home Owners
    285 Estimated Total Renters
    83% / 17% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    3,691 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $740,000 Median Sales Price
    21 Homes Sold
    14 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,990,000 -9.55%
        6/12/2022 9:02:56 PM Status Changed Source: Multiple Listing Service New Value: Pending with Showings
        1/31/2022 7:18:00 PM New in Database Source: Multiple Listing Service New Value: $2,200,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.