The Tar Heel Motel is a original family owned and operated motel since the mid 1950s. However the underlying land value has become so great that the operating income will not support that value. The underlying land consists of 6 - 40 ft wide 9,000 sqft lots on NC 12 and 5 - 40 ft wide 8920 sqft lots on US 158. The property is located in the Hotel Overlay District, therefore the height limit is 60 feet and the lot coverage is up to 75%. The purpose of the Hotel Overlay District is to encourage hotel development. THE TAR HEEL MOTEL IS AN ONGOING BUSINESS AND IS CURRENTLY TAKING RESERVATIONS FOR 2017. ANY PURCHASE AGREEMENT MUST CONTAIN THE CONDITION THAT THE BUYER IS TO HONOR ANY CONFIRMED RESERVATIONS.
This listing is provided courtesy by Eddie Goodrich, Village Realty Holdings, LLC - NH
Map may not be 100% accurate.