Mixed Use Business Condo Units A and B

Retail-Commercial for Sale
Catylist Listing ID: 30790565
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 2,887 SF
Sale Price: $989,600
Unit Price: $342.78 PSF
Ceiling: 10 ft.
Property Use Type: Investment
Building Name: Schier Buliding
Usable Size (USF): 2,887 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/23/2022

Overview / Comments

Located in Downtown Wilmington's Central Business District, two business condominiums are being sold together. Only the retail estate is being sold.

The seller is moving. Currently used for retail service business, offices and professional services. Property layout and multiple access points opens it up future uses such as Short Term Rentals, private offices, café, retail.... This property also has 6 parking spaces behind the building for the owners private use.
Great investment opportunity or future space of owner/occupied business/residence.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R04720-007-022-005 and R04720-007-022-004
Zoning: CBD
Retail Clientele: General, Family, Business, Other
Property Located Between: Chestnut and Grace
Property Visibility: Excellent
Largest Nearby Street: N Front Street
Feet of Frontage: 33
Highway Access: 76/74, I-40, 421
Airports: ILM
Site Description: Central Business Area of Downtown Wilmington. Business Condo with multiple use. Six parking spaces(tandem) behind building
Area Description: Business, retail, hospitality, government offices
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Good
Year Built: 1890
Year Renovated: 2017
Roof Type: Other
Construction/Siding: Block
Exterior Description: Concrete block and brick exterior. Some hard coat stucco and commercial doors and storefront windows.
Total Parking Spaces: 6
Parking Type: Surface
Parking Description: Surface parking behind building three tandem spaces that can accommodate 6 cars
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: First floor has separate offices, potential living area, storage with private access. Second level has access from front street level, has reception, retails and offices. Third level is a open lounge or work area.
Zoning Description: Central Business District. Go to Land Development Code at City of Wilmington website. http://flipbook.wilmingtonnc.gov/pdt/ldc/
Lot Frontage: 30
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Office and Professional Condominiums
Legal Description: Unit 273 A Shrier Bldg Condominium and Unit 273 B Shrier Bldg Condominium

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,437 34,493 101,521
Median Age: 35.43 38.65 35.87
Households: 3,840 15,617 43,659

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