Garden Center Business and Real Estate

Retail-Commercial for Sale
Also listed as Business Opportunity
Catylist Listing ID: 30699553
Property Subtypes: Free-Standing Building, Garden Center, Mixed Use, Other
Building Size (RSF): 2,015 SF
Gross Land Area: 33,206 SF
Sale Price: $975,000
Unit Price: $483.87 PSF
Ceiling: 9 ft.
Property Use Type: Investment, Business
Building Name: Garden Center
Usable Size (USF): 2,015 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 1/22/2022

Overview / Comments

Unique opportunity to invest in a well established Wilmington Business and also own the real estate where it is located. Turnkey Garden Center business with annual sales of over $1.2M. This business has a well established clientele and impressive reputation. The property is located in one of the fastest growing areas in Wilmington. Property consists of .76 acres with a commercial building consisting of 2015 SF. his center is positioned on a highly visible corner in the urban mixed use district. The total package available includes; the real estate, business property, trade name, social web presence, transition training and business consulting. There is room to grow and expand the business or utilize the land in a new capacity and relocate the profitable business. This is a great opportunity for someone in the nursery-gardening business to expand. Also a great investment opportunity to be an owner-occupied business or delegated operational investment. There is great value in the real estate and development potential too.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $2,484 (Annual)
Tax Value Land $129,000
Tax Value Improvements $106,800
Tax Value Personal Property $15,860
Gross Operating Income $1,252,355 (Annual)
Lender Name n/a
Annual Debt Service $0 (Annual)

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R05406-036-006-000
Zoning: COMMERCIAL SERVICE DISTRICT
Retail Clientele: General, Business, Other
Property Located Between: S 16th Street and S 15th Street
Property Visibility: Excellent
Largest Nearby Street: S 16th Street
Feet of Frontage: 198
Highway Access: HWY 421, I-40, 74/76 and Hwy 17
Airports: ILM
Site Description: Urban Mixed Use District, high visibility, high traffic counts, fenced in with surface parking enclosed, garden display are throughout grounds and retail store area
Area Description: Urban Mixed Use. Combination of business, multi-family, residential and commercial services
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1925
Year Renovated: 2013
Construction/Siding: Wood Frame
Total Parking Spaces: 12
Parking Type: Surface, Other
Parking Description: Off-street Surface Parking and on-street parking availiable
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Interior Description: Retail Store, Greenhouse , office and storage
Zoning Description: https://www.wilmingtonnc.gov/departments/planning-development-and-transportation/zoning
Lot Frontage: 198
Lot Depth: 168
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Ericson Sabin Properties LLC
Legal Description: PT LOTS 1, 2 & 3 BLK 508 WILMIN

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,677 58,985 128,674
Median Age: 36.69 35.68 36.55
Households: 7,051 27,404 55,124

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