105 Market Street

Retail-Commercial for Sale
Also listed as Business Opportunity, Office
Catylist Listing ID: 30789640
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 2,217 SF
Gross Building Area: 2,340 SF
Gross Land Area: 739.35 SF
Sale Price: $995,000
Unit Price: $448.80 PSF
Property Use Type: Investment
Building Name: 105 Market
Usable Size (USF): 2,217 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/3/2022

Overview / Comments

Mixed use Income generating investment opportunity located in the Downtown Wilmington's Central Business District. Building consists of two unit. The downstairs unit is operating as a retail store front and has a a second level office area. The 2nd unit is currently leased for a residential/home office use. Both units are in great shape and 2nd level was just recently renovated and updated Conveniently located at one of Wilmington's highest visibility intersections. Both units have tenants in place. Great opportunity to invest in the growing downtown market.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $4,663 (Annual)
Tax Value Land $500,200
Tax Value Improvements $25,000
Gross Operating Income $50,400 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R04720-009-010-000
Zoning: CENTRAL BUSINESS DISTRICT
Retail Clientele: General, Business, Tourist, Other
Property Located Between: Front Street and 2nd Street
Property Visibility: Excellent
Largest Nearby Street: N Front Street
Feet of Frontage: 155
Highway Access: 87/76, I 40, 421
Airports: ILM
Site Description: Downtown Business Area
Area Description: Downtown Business Area- Historic Overlay
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Good
Year Built: 1910
Year Renovated: 2019
Construction/Siding: Block
Exterior Description: Retail Store Front, Stone/brick front
Parking Type: Other
Parking Description: Street and Parking Decks within walking distance
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Interior Description: Downstairs unit is a retail store front and office. The upstairs is residential in character.
Zoning Description: Central Business District
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Tyler A Pencek
Legal Description: Pt Lt 5 Blk 165 Wilm

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,670 38,324 111,724
Median Age: 35.65 36.45 36.35
Households: 4,384 17,619 48,452

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