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3335 S Virginia Dare Trail Nags Head, NC 27959 - MLS# 105081

Type: COMMERCIAL/INDUSTRIAL - Other
Year Built:  1940
Area:  Nags Head Oceanside
Location:  Oceanfront
Asking Price:  $5,900,000
Original Price:  $5,900,000

Bring all offers! One of the very few oceanfront restaurants on the northern Outer Banks is available for purchase. This oceanfront commercial property is perfectly located in the heart of Nags Head, North Carolina and is an annual destination for visitors from around the world. Comprised of four lots totalling 1.28 acres in total with over 11,000 square feet of commercial and residential buildings, the property includes an established restaurant, new covered oceanfront tiki bar, fishing pier, tackle shop, six vacation rentals and ample parking.

In September 2019, the fishing pier lost the outer most section during Hurricane Dorian, but the rest of the property weathered the storm well. The pier was back open to fishing that same week. The Nags Head Pierhouse Restaurant is perched right over the beach and offers amazing views of the ocean waves and all the beachgoers. Returning visitors sit inside in the cozy old-school restaurant or out on the famous enclosed porch.

Continuously operated since 1985, it’s especially popular at breakfast with a busy lunch and dinner crowd April through mid-October. The breakfast menu includes all the traditional favorites. Lunch and dinner selections include fresh steamed seafood, fried seafood sandwiches, salads, seafood platters and London broil. A perfect compliment to the fishing pier, the restaurant will cook your own catch.

In 2017, a third seating area was built outside on the pier deck as a fresh open-air extension of the restaurant with a full walk-up bar. It quickly became a favorite tourist stop with unparalleled views overlooking the beach and waves. Captain Andy's Oceanfront Tiki Bar & Grill offers full service for drinks and casual food and features live entertainment during the summer. Colorful tables and friendly service make this a great way to enjoy this oceanfront atmosphere.

The Nags Head Fishing Pier is one of the state’s longest and oldest piers and attracts guests year-round. Due to its close proximity to the Gulf Stream, a wonderful variety of inshore fish swim off the pier which includes a full service tackle shop. The oceanfront paved parking lot has over 60 spaces and an additional 19 paved spaces directly across Virginia Dare Trail. Six rental cottages, spread out through the property, bring in additional revenue.

All restaurant equipment and furnishings convey with purchase including tackle shop and pier inventory, business name, signage and more. The Outer Banks is a top vacation destination ranking as the #1 family beach vacation in US News & World Reports. Through August 2019, Nags Head meals receipts were already up 6.34% YTD over 2018. For all of Dare County, meals & occupancy receipts were up 5.98% YTD for fiscal year 2019-2020 over 2108-2019.

Not only that, the previous fiscal year was already 3.92% better than 2017-2018. Over 1.4 million visitors passed through nearby Jockey’s Ridge State Park in 2019 setting pace for the most visitors in over five years. (Source: Outer Banks Visitors Bureau) Contact the broker, T-Mike Morrison, with all potential interest! There’s a lot of flexibility for a wide variety of business and development plans rarely found oceanfront. Generous commission and buyer’s agent bonus available at closing.

Lot Description
  • Beach Frontage
View Description
  • Ocean
Possession
  • At Closing
Subdivision
  • Geo T Stronach
Listed On
  • 2019-05-08
Heating
  • Central
Air Conditioning
  • Central
  • Heat Pump
  • Wall Unit(s)
  • Window Unit(s)
Construction
  • Frame
  • Wood
Roof
  • Asphalt/Fiber Shingle
Roads
  • Paved
  • Public
Parking
  • 51-100 Spaces
  • Parking Lot
  • Paved
  • Street
Agent Name
Timothy Morrison
Office
Pirate's Cove Realty