I just noticed that the Rodanthe Pier is for sale and has been for 4 months. Who wants a pier? $1,900,000
That has to be worse than owning a boat in the amount of money you are throwing at it
The new owners of the Nags Head pier are doing some significant updates and repairs. This was taken 3/10/26.
Hard no...
Can't even image the cost of insurance for that place.
I just looked up the financials. $487k gross income. $162k NOI and the parking lot mortgage gets paid off at closing, increasing the income potential. 25% gross return with an attractive 8.4% cap rate. I wouldn't take on the risk but they've priced it pretty well.
If you're looking for a comp - just a short while ago. https://www.outerbanksvoice.com/2026/01/08/nags-head-fishing-pier-sold-new-owner-plans-upgrades/
@gfury - the owners of Noosa Beach Grill are heavily involved in this renovation. I'm looking forward to their new tiki bar "Off the Hook". I'm sure it will be a big improvement over Capt Andy's. Hopefully will have a Fish Heads-like place right around the corner.
Rodanthe has a much higher risk factor for sure. Does Rodanthe pier have a restaurant, I have never been to it?
No restaurant. But they serve snacks and drinks including beer. They also do live music.
Lets hope they keep it a fishing pier.
@W&M OBX Thanks for the info. I had high hopes when Capt Andy's opened on the Nags Head pier, but it just did not have the same vibe as Fish Heads. It might be the layout. It needs to be more open, or something.
@gfury They need to get rid of the dirty windows and open it up to the breeze and sounds of the ocean. It feels like a stuffy old boathouse. The outdoor seating needs to be enlarged too, especially on the oceanside.