1020 Princess Front Unit A

Retail-Commercial for Lease
Lease Pending
Catylist Listing ID: 30703307
Property Subtypes: Convenience Store, Mixed Use, Restaurant, Street Retail, Other
Status: Pending
Contiguous Space: 1,950 SF
Gross Building Area: 3,900 SF
Lease Rate: $18 - 23 PSF (Annual)
Base Monthly Rent: $2,925 - 3,737
Lease Types: Modified Gross
Ceiling: 12 ft.
Building Name: 1020 Princess
Last Updated: 7/2/2021

Overview / Comments

1950 Square Feet of commercial space available for lease in the heart of the Soda Pop District. This open- style space is located in the front part of the building. This space will share the same building with Hi-Wire Brewing Tap Room. The space fronts on to Princess Street with high viability and easy access. The building is undergoing a complete exterior renovations.

The areas is zoned UMX and widens the scope of opportunity for many type of business. Interior up fit is negotiable based on length of lease commitment.. Great location and great opportunity to share in the growth of this area. Gross Modified Lease Option.

Expand All Available Space

Suite: Front-Building-Entire Space 1,950 SF $18 - 23 PSF (Annual) Modified Gross
Status: Pending
Space Available: 1,950 SF
Lease Rate: $18 - 23 PSF (Annual)
$2,925 - 3,737 (Monthly)
Lease Type: Modified Gross
Space Description: 3900 Square Feet, Three entrances. The space is in the process of being gutted and white boxed
Space Subcategory: Mixed Use
Date Available: 2/1/2021
Space Type: New
Offices 3
Rent Escalators Other
Rent Escalators Description 3%, to be negotiated
Rent Concession Depending on Lease rate and term

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R04818-018-008-000
Zoning: UMX
Retail Clientele: General, Family, Business, Recreation, Other
Property Located Between: Market and Princess
Property Visibility: Excellent
Largest Nearby Street: Market Street
Feet of Frontage: 198
Highway Access: I40, Rt 17, 421
Airports: ILM
Site Description: Business, Residential and Mixed Use
Area Description: Urban Mixed Use. The area has a number of warehouses, stores, offices, schools and residential homes.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,950 SF
Property Condition: Good
Year Built: 1946
Year Renovated: 2021
Construction/Siding: Concrete
Exterior Description: Concrete block, commercial glass and steel
Total Parking Spaces: 9
Parking Type: Surface
Parking Description: off-street parking spaces. Additional Street parking available
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Open space to be upfitted
Zoning Description: Sec. 18-204. - UMX, Urban Mixed Use District. (a)  Purpose. The urban core of the city, primarily that area within the 1945 corporate limits, contributes to the unique character of the City of Wilmington. The UMX is established to assure an appropriate development pattern is maintained within the 1945 corporate limits through five (5) main objectives: to enhance and preserve existing urban development patterns by encouraging compatible infill and redevelopment; to affect quality design and a variety of built forms of lasting value that result in a pedestrian scale; to provide a mix of housing options; to promote and enhance transit options, particularly those that are pedestrian-oriented, while reducing demand for automobile trips; and to encourage a mix of uses that fosters a sense of community. The district regulations include design elements intended to enhance the urban form, increase neighborhood safety, add flexibility for small, urban lots, and complement the historic built environment. Integrated mixes of uses on development sites and within individual buildings is encouraged. UMX zoning inside the 1945 corporate limits is intended to reinforce and restore traditional mixed-use patterns in the older parts of Wilmington. UMX zoning outside the 1945 corporate limits is intended to promote mixed-use developments on sites large enough to create a mix of uses within the existing suburban environment. Typically these developments will include creative development and redevelopment solutions such as integrated, vertical mixed use and structured parking. This district is not intended to be applied to the Central Business District (CBD), nor any of the historic districts. (b)  Uses. (1)  Notwithstanding the provisions of section 18-173, any use is permitted in the UMX provided it meets all other provisions of this chapter, except for the following: a.  Adult establishments. b.  Electronic gaming. c.  Garbage collection, private. d.  Gas companies. e.  Manufactured homes sales. f.  Motor freight companies. g.  Movers, van lines, and storage. h.  Nightclubs. (2)  Uses permitted under prescribed conditions. The following uses are permitted provided that they meet all requirements of this section, Article 6, and all other applicable requirements established in these regulations.
Lot Frontage: 194
Lot Depth: 147
Water Service: Municipal
Sewer Type: Municipal
Legal Description: (.064 ACRES)E 1/2 PT LOTS 1,2 & 3 BLK 174 WILM

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,661 44,965 125,190
Median Age: 35.73 35.38 36.21
Households: 5,692 20,626 53,461


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