Hollywood Diner was on the market for £250,000 but Hemsby Lifeboat said it was unable to disclose the sale price, owing to commercial confidentiality,
The charity, founded in 1975, said it completed the purchase on Monday.
Mr Hurd said: “I would say we would want that [new] lifeboat station up and running by the end of next summer, if not before.
“The way it’s gone this year already, we’ve lost sand left, right and centre down there, [so] we need to get on with that building as soon as possible.
“It’s going to be a lot of fundraising. We’re probably looking at half a million pounds to convert the building, so we’re going to have to rattle a few buckets and hope we can get some outside people or companies to help fund this new lifeboat station.”