Silver Lake Motel property on Ocracoke Island sells for $4.1 million at auction

By Island Free Press on July 31, 2025

Aerial of Silver Lake Motel & Inn on Ocracoke Island. (Photo by Country Boys Auction & Realty)

By Joy Crist| Island Free Press

The Silver Lake Motel & Inn, a nearly 50-room waterfront lodging complex in the heart of Ocracoke Village, sold for $4.1 million at a recent New Bern auction, according to an update from the auction’s managing company, Country Boys Auction & Realty.

“The property was sold to a Greenville, NC family-based company for $4.1 million,” stated Dewey M. Dunn, Vice President of Real Estate and Marketing, in a social media update. “The buyers are excited to make these properties island gems again and to bring back the Jolly Roger!”

The property consists of five contiguous parcels totaling approximately 1.59 acres, with two main lodging buildings.

The original motel, constructed in 1983, has roughly 5,148 square feet of space with about 18 rentable rooms, plus one suite, an office, a lounge, and laundry facilities. The inn, built in 1994, spans approximately 16,529 square feet and features 27 rooms and suites—some still undergoing renovation—as well as an attic area and observation tower.

On the waterfront side, two parcels include docks, piers, a covered shelter, and the former Jolly Roger Pub & Marina site, which was lost to Hurricane Dorian in 2019.

The sale was not a foreclosure or bankruptcy, but was conducted “as-is, where-is” auction, with all known liens being paid from the proceeds.

During the height of the summer season, the Silver Lake Motel & Inn will remain operational under interim management, honoring current reservations and processing new bookings.

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