47649 Buxton Back Rd

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47649 Buxton Back Rd

Buxton, NC 27920
Asking Price
$15.00M
Asset Type
Multifamily
Class
Class B

What's Special

47649 Buxton Back Rd is situated in the seaside community of Buxton, North Carolina, located on the Outer Banks within Hatteras Island. The surrounding neighborhood is characterized by a mix of maritime forests and residential dwellings, offering a secluded coastal atmosphere. The property provides convenient access to local amenities along Highway 12, including independent cafes, grocers, and fishing supply stores. It is positioned near significant landmarks such as the Cape Hatteras Lighthouse and Cape Point. Regional transportation is primarily facilitated via Highway 12, which serves as the main north-south arterial connecting the island to the mainland. As a multifamily asset, this location is suited for workforce housing or seasonal rental conversions. The property is well-positioned to serve a tenant profile consisting of local service industry professionals, National Park Service employees, or outdoor enthusiasts seeking proximity to world-class surfing and fishing sites. Given the limited housing inventory on Hatteras Island, the asset provides a functional solution for long-term residents or staff members supporting the area’s tourism-driven economy. Its layout and coastal setting support high demand for year-round occupancy or integrated staff accommodations.

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NOI
$80,000
Cap Rate
0.53%
DSCR
0.09
Underwater
Cash-on-Cash
-18.01%
Monthly Payment
$74,211.816
Annual Cash Flow
$-810,541.789

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