Mid Town Swank

Vacant Land for Sale
Catylist Listing ID: 30294273
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail
Gross Land Area: 47,972 SF
Sale Price: $205,000
Unit Price: $4.27 PSF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 8/4/2018

Overview / Comments

Multi Family (MF-MD) Land.
Assisted or college dormitory / studio living. See attached Budget proforma and cash flow analysis.

Residential home is in excellent repair and currently rented.
Tenants have a great rental history while helping provide cash flow toward future development (costs). Preliminary engineering is transferable as well as Army Corps sign-off of no wetlands.

Other potential uses include Class A office or combination of residential and office.(O&I and O&I with CDMU are contending uses).

Building footprint can be 8750 sq. ft. with assured parking available underneath (70' X 125'). Max build out of building: 52,500 sq. ft.

Call for for details for other potential uses and information.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington
Tax ID/APN: R05407-028-002-000
Zoning: MFMD
Property Located Between: South Kerr Ave and College Rd
Property Visibility: Excellent
Largest Nearby Street: S. Kerr Ave
Site Description: Wooded and partially cleared
Area Description: S. Kerr Ave has recently been re-purposed to handle Wilmington's traffic. Proximity to Campus and in the heart of Mid-town. This area of town has and continues to experience re-development. O&I and O&I with CDMU are contending uses.
Zoning Description: MFMD. Great potential for O&I-1 (CD)
Topography: Gently Sloping
Easements: Utilities
Easements Description: #0' sewer easement and head water to Burnt Mill Creek lie within the same easement area.
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,468 79,868 141,645
Median Age: 27.97 35.04 36.85
Households: 6,960 34,810 61,287
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