Porters Neck Restaurant Stand Alone / Drive Through

Retail-Commercial for Sale
Catylist Listing ID: 30791049
Property Subtypes: Day Care Facility, Free-Standing Building, Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 7,660 SF
Gross Land Area: 1.43 SF
Sale Price: $2,800,000
Unit Price: $365.54 PSF
Property Use Type: Vacant/Owner-User, Business
Building Name: J Michaels Porters Neck
Usable Size (USF): 7,660 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/25/2022

Overview / Comments

DRIVE Through - Highly sought after Porters Neck location. Property is contiguous to Harris Teeter anchored center.

Stand alone Restaurant building fronting Market St with a 2020 AADT of 38,500. This Wilmington "locals" favorite for over 35 years is closing. Real Estate and FFE for sale. The other two J. Michael's locations will remain open.
Dining areas includes 128 inside seats and 56 exterior seats on the Covered-deck.

Kitchen area is large enough to support catering and includes: 2 grills, 2 fryers, 3 sandwich units, an 8 burner stove, double hood, prep tables, and hand sinks.

600 sq ft walk-in freezer and 200 sq ft walk in cooler. Open air can wash, employee locker room, and multiple large storage areas, shelving and 8'ft roll up receiving door. Separate restrooms for employees.

Upstairs C-suite includes +/- 1,500sq ft with 4 private offices, conference, full bathroom, file/training room and access to roof/HVAC.

Sound Proof Game room has plumbing in place to allow for addition of a bar area. Building is Steel Frame with fire-retardant underlayment.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: New Hanover County
Tax ID/APN: R03600-005-042-000
Zoning: B-1
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Next to Harris Teeter
Property Visibility: Excellent
Largest Nearby Street: Market & Porters Neck Rd
Feet of Frontage: 150
Traffic/Vehicle Count: 38,500
Highway Access: Immediate access to Market St, Hwy 17 and I-140
Airports: ILM - Wilmington international
Site Description: Turn lane access into property. Good viz & signage.
Area Description: Bustling Porters Neck and Figure 8 brings strong demographics and traffic counts.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1999
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Standing seem metal roof with brick vanier
Total Parking Spaces: 56
Parking Type: Surface
Parking Description: 56 Parking spaces located in front, sides and rear
Heat Type: Propane
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Zoning Description: B-1 allows for neighborhood-type commercial uses such as drug stores, restaurants, barber shops and salons, and similar typically smaller and less intensive commercial uses.
Lot Frontage: 150
Lot Depth: 510
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: fee

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,234 28,030 58,199
Median Age: 40.36 40.04 38.32
Households: 504 11,361 22,946
© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Cape Fear REALTORS┬« nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.