3100 Arendell St, Morehead City, NC 28557

The Garnet Inn & Suites, located at 3100 Arendell Street in Morehead City, North Carolina, presents a hospitality investment opportunity along the state’s highly desirable Crystal Coast. Positioned along a major commercial corridor with strong visibility and traffic counts, the property offers investors the opportunity to reposition an existing lodging asset in a coastal market supported by tourism, maritime industries, and regional travel demand.

The property consists of a two-story exterior corridor hotel built in 1986 with 100 guest rooms situated on leased land with approximately 57 years remaining on the ground lease. The site benefits from frontage along Arendell Street, a primary thoroughfare with approximately 33,000 vehicles per day, providing strong accessibility and exposure.

Morehead City serves as a key hub along the Crystal Coast, supported by waterfront tourism, activity at the Port of Morehead City, and proximity to destinations including Atlantic Beach and Beaufort. The property is located just a few blocks from the Intracoastal Waterway and approximately three miles from Atlantic Beach, while remaining within driving distance of Wilmington and Raleigh.

While the property is currently operated as a hotel, investors may also evaluate alternative repositioning strategies. Given the building layout and increasing housing demand along the Crystal Coast, a potential multifamily conversion could be explored, subject to zoning and entitlement approvals, providing additional optionality for future ownership.

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Sale Highlights

• 100-room hotel with potentialfor multifamily conversion

• 33,000 vehicles per day

• Situated in the Crystal Coast tourism corridor

• Blocks from the Intracoastal Waterway

• Ground lease with approximately 57 years remaining