500 Arendell Street — Sale in Morehead City, NC

  • Price: $1.8M
  • Listing type: For sale
  • Asset type: Business
  • Location: Morehead City, NC 28557
  • Size: 5,540 SF
  • Year built: 1920

Investment Figures

Price per square foot
$316

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Introducing 500 Arendell St in Morehead, NC—a stunning transformation of the former Tidewater Power Building into a charming bed & breakfast. Ideally located just across from the historic waterfront Business District, this property offers easy access to a variety of restaurants, bars, shops, boutiques and the world famous Big Rock Landing. Spanning 5,540 square feet, the first floor features a cozy one-bedroom, one-bath efficiency unit alongside two spacious two-car garage bays. The second floor showcases an inviting open-concept layout with a beautifully crafted kitchen, complete with custom woodwork and exposed beams. Here, you'll find two bedrooms, two bathrooms, a living room, and an office space. Step outside to the rooftop deck, where a hot tub awaits, offering breathtaking panoramic views of the Intracoastal Waterway. Renovations have fortified the building to endure hurricane-force winds, and it has been engineered for future expansion. Approved plans for a third floor include four additional one-bedroom, one-bath units, each with a private deck. Additionally, materials are on-site to create another efficiency unit on the second floor, featuring a living room, dining room, kitchen, laundry, one bedroom, and one bathroom. This property is perfectly set up for an owner-occupied bed & breakfast, ideally situated in an already popular, growing vacation destination. With the upcoming completion of I-42, travel times from the Piedmont region will decrease, boosting tourism potential. Seize this opportunity to capitalize on existing expansion approvals and enhance this already successful income-generating property. This property would also be ideal for conversion into a live-work professional space. By transforming the first floor into a commercial area, you could easily operate a business while residing in the already completed second floor. The possibilities and potential for this property are nearly endless. Building SF: 5540 | Land Size: 0.08 Ac | Year Built:

Market Context

This commercial property in Morehead City, NC is listed for sale at $1,750,000 across 5,540 SF ($316/SF). The building dates to 1920. It has been on the market for 71 days. Compare it against other commercial property listings for sale in Morehead City, NC — view the full market.

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