Pirates Cove Hotel & Lazy Pirate Restaurant
Retail | 26,270 SqFt
Marketing description
Cushman & Wakefield’s Hospitality Group has been retained to offer for sale the fee simple interest in the 62-room Pirates Cove Hotel, located in Carolina Beach, North Carolina. The property is a 3-story, limited-service hotel that is directly off of North Lake Park Boulevard and conveniently located within close proximity to the ocean with direct access to Carolina Beach — one of North Carolina’s most popular coastal destinations. The independent property also is unencumbered by the strict operating requirements and annual fees associated with franchises, which allows for greater flexibility in management decisions, personalized guest experiences, and the ability to quickly adapt to market trends and local demand. Additionally, the property offers multiple value-add opportunities, including, but not limited to, generating incremental revenue through the on-site restaurant and bar and enhancing guest services or amenities to increase occupancy and average daily rate. The Pirates Cove Hotel offers investors the opportunity to acquire a 62-room, independent property in an tourist market with exceptional upside opportunity.
Investment highlights
Within close proximity to the ocean with direct access to Carolina Beach — one of North Carolina’s most popular coastal destinations.
Coastal/tourist market.
Opportunity to earn additional revenue through the on-site restaurant/bar.
Excellent owner-operator opportunity.
Independent hotel - unencumbered by the strict operating requirements and annual fees associated with franchising.
Significant upside through improved marketing, operational realignment, and targeted amenity enhancements.
Tremendous accessibility and visibility from North Lake Park Boulevard, one of Carolina Beach’s main thoroughfares that travels through the city and surrounding area.
The section of North Lake Park Boulevard closest to the property has an Average Annual Daily Traffic (AADT) count of approximately 20,700 vehicles per day.
Centrally located near the Carolina Beach Boardwalk, Marina, and Carolina Beach State Park, ensuring steady leisure demand.
Under 15 miles from Wilmington, offering strong drive-market accessibility and year-round visitation from regional travelers.
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