SOLD – Beach Resort or Condo Development Opportunity, Atlantic Beach, NC

Bankruptcy Auction:
Bid Deadline: September 29
Auction Date: October 9
Minimum Bid: $1,496,250

Situation Overview

Keen-Summit Capital Partners LLC has been engaged by Peppertree-Atlantic Beach Association, Debtor, as its exclusive real estate broker for the sale of the developable lots in the Peppertree Atlantic Beach Resort, located at 715 W. Fort Macon Road, Atlantic Beach, Carteret County, North Carolina

Area Overview

Atlantic Beach is one of five communities located on the barrier island bordered by the Atlantic Ocean and Bogue Sound. The abundance of public beaches, attractions and access to recreation creates the opportunity for relaxation and outdoor activity for visitors and residence. The developable lots are located on the Atlantic Ocean side of the island, less than a mile from the Atlantic Beach Bridge and access to the mainland. There is direct beach access via a boardwalk located near the southern border of the resort.

Summary Highlights:

Beach Resort or Condo Development Opportunity
Direct Beach Access
2 Adjacent Parcels Totaling Approximately 4.4 acres
Access to resort amenities including indoor and outdoor pools, children’s pool, fitness facilities, basketball court, tennis courts, miniature golf, laundry, security, picnic area with BBQ grills, etc.

Area Highlights:

Parks & Recreation: Area facilities provide access to marina, fishing, charters, camping, watersports (including jet ski rentals, kayak rentals, paddleboard rentals, parasail), mini golf, splash pad, skate park, volleyball and biking.
Eat & Shop: Atlantic Beach offers a variety of dining options from classic American diners serving comfort food to upscale restaurants with seafood. Local shopping offer everything from bicycles, surfboards, and beachwear to wines, spices, antiques, handcrafted jewelry, and luxury brands.

Peppertree – Teaser

Peppertree – Information Memorandum

Peppertree – Sale Motion

Peppertree – Bidding Procedures and Bid Documents

Peppertree – Stalking Horse Real Estate Purchase Contract

Peppertree – Title Summary

Phase 1 Recorded Plat

Phase I Declaration

Phase III Declaration

2003 Deed to Beach Access – 3 HOAs

Pavilion Deed

General Store Deed