4107-I Oleander Drive- Anderson Square

Retail-Commercial for Sale
Catylist Listing ID: 30610680
Property Subtypes: Mixed Use, Restaurant, Retail-Pad, Street Retail, Other
Building Size (RSF): 1,694 SF
Sale Price: $400,000
Unit Price: $236.13 PSF
Ceiling: 10 ft.
Property Use Type: Vacant/Owner-User
Building Name: Anderson Square
Usable Size (USF): 1,694 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 4/14/2021

Overview / Comments

1694 SF Retail/Business Condo for sale in well-established Anderson Square Shopping Center. UNIT IS CURRENTLY LEASED. This Unit J provides an investor a great income producing investment. The unit is key turn ready conditions. The units (Unit I 1695 SF and Unit J 1501 SF) can also be purchased together. The open floor plan enables a large work area or could be up-fitted to client's needs. Anderson Square is located on Oleander in the popular mid-town area of Wilmington.

Anderson Square has a combination of office, retail, restaurant and business services throughout the center. The combination unit has access to signage on the highly travels Oleander Drive. This property is also being marketed together or by individual units. Unit is available for immediate occupancy.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R05518-026-015-009
Zoning: RB
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: Oleander Drive and Peach Street
Property Visibility: Good
Largest Nearby Street: Oleander Drive
Highway Access: I40, 74/76 and 421
Airports: ILM
Site Description: Retail, Office, Business Services Shopping Center
Area Description: Business and Retail Area
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1 SF
Property Condition: Excellent
Year Built: 2003
Year Renovated: 2008
Roof Type: Flat
Construction/Siding: Brick/Aluminum Siding
Exterior Description: Brick veneer, commercial windows
Parking Type: Surface
Parking Description: Shopping Center Parking lot
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Other
Interior Description: Retail and Wholesale customer service areas, with private offices and general work areas.
Zoning Description: Sec. 18-195. - RB, Regional Business District. (a) Purpose. This district is established to accommodate large commercial facilities offering goods and services meeting the needs of the city, county and regional residents. It is designed to locate at the intersections of major thoroughfares and occur in clustered patterns. The district is intended to encourage one-stop shopping at convenient and safely accessible locations. (b) Uses permitted by right. The following uses are permitted provided that they meet all requirements of this section and all other applicable requirements established in these regulations. (1) Amusement and recreation services, indoor. (2) Artists, commercial including silk screening. (3) Assembly hall. (4) Automobile and truck dealers, new and used. (5) Automobile care center. (6) Automobile parts and supply store. (7) Automobile renting and leasing. (8) Banking services. (9) Building material dealers. (10) Bus and taxi service. (11) Business services. (12) Carpet and upholstery cleaners. (13) Chimney and furnace cleaning. (14) Contractors office, general or special trade, with no outdoor storage. (15) Contractors' equipment and supply dealers and service, with no storage. (16) Convenience food stores. (17) Divers, commercial. (18) Drive-in theater. (19) Exterminating services, dwellings and other buildings. (20) Fuel and ice dealers. (21) Funeral home and crematory. (22) Furniture stores. (23) Gun sales, including repair. (24) Hospitals, except animal hospitals. (25) Janitor services. (26) Laboratories, testing. (27) Liquor stores. (28) Manufactured housing dealers. (29) Marina. (30) Motels and hotels. (31) Motorcycle dealers. (32) Movers, van lines and storage. (33) Movie theaters, excepts drive-in. (34) Nightclubs. (35) Offices, medical. (36) Offices, professional. (37) Parks and recreation areas, municipal. (38) Personal services. (39) Photography studios. (40) Post office. (41) Recreational vehicles and utility trailer dealers. (42) Research and development laboratories. (43) Residential hotels. (44) Restaurant, fast-food carry-out. (45) Restaurant, standard (sit-down). (46) Retail sales establishments. (47) Reserved. (48) Ship chandler. (49) Small engine repair, except automotive. (50) Social services. (51) Spas and health clubs. (52) Upholstery and furniture repair. (53) Veterinary service with enclosed pens. (54) Community center. (55) Recreation facility, private. (c) 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. (1) Automotive services, except repair and towing services. (2) Auxiliary uses and wares. (3) Bowling alleys and pool halls. (4) Communication facilities. (5) Commercial parking lots. (6) Governmental uses outside public rights-of-way, except offices. (7) Group home supportive, large. (8) Group home supportive, medium. (9) Libraries. (10) Kennels, commercial boarders and breeders. (11) Religious institutions. (12) Residential unit contained within principal use. (13) Residential uses as allowed in Commercial District Mixed Use. (14) Schools, college and universities. (15) Schools, trade, correspondence and vocational schools. (16) Shopping center. (17) Skating rink, roller and ice. (18) Telecommunication facility, unattended. (19) Tire dealers and service. (20) Service station. (21) Utility stations and plants outside public rights-of-way (public and private) including lift stations, substations, pump stations, etc. (22) Electronic gaming establishments. (23) Day care, adult or child. (24) Breweries, small regional and microbreweries. (25) Artisan food and beverage producers. (26) Mini-warehousing, multi-story. (27) Homestay lodging. (28) Whole-house lodging. (d) Permitted by special use permit. The following uses are permitted subject to the issuance of a special use permit and provided that they meet all requirements of this section, Article 6, and all other applicable requirements established in these regulations. (1) Assisted living residence. (2) Reserved. (3) Group day facility. (4) Group home residential. (5) Group home supportive, small. (6) Reserved. (7) Nursing homes. (e) Permitted accessory uses. Accessory uses clearly incidental and subordinate to the principal use and structures including the following uses are permitted provided that they meet all requirements of this section, the requirements of Article 6 and all other applicable requirements established in these regulations. (1) Internal services facilities incidental to permitted uses, including cafeterias, day care facilities, snack bars, and similar retail activities, conducted solely for the convenience of employees, or occasional visitors, provided any signage for such facilities is not visible beyond the premises. (2) Shipping containers, permanent off-chassis. (f) Development standards. In addition to meeting the general development standards set forth in this chapter, all development within the RB District shall meet all applicable development standards established in this section and other requirements of these regulations. (1) Dimensional requirements. a. Minimum lot area: 1 acre. b. Minimum lot width (feet): 100. c. Maximum lot coverage (%): 40. d. Minimum front setback (feet): 25. e. Minimum rear setback (feet): 15 (b), (d) . f. Minimum interior side setback (feet): 0 (c), (d) . g. Minimum corner lot side setback (feet): 25. h. Maximum height (feet): 35+ (a) . Notes: (a) See subsection (f)(2) below for increased building height allowances to a maximum of ninety-six (96) feet. (b) When abutting a residential district, the minimum rear setback shall be twenty-five (25) feet. (c) When abutting a residential district, the minimum interior side setback shall be twenty (20) feet. (d) For every foot of increased height for structures over twenty (20) feet, the developer shall provide additional interior side and rear yard setbacks at a 1:1 ratio where abutting a residential district. (2) Building height. Building height may be increased when additional side and rear yards are provided in accordance with the following standards. The maximum height of any building shall be ninety-six (96) feet. The formulas for increases are as follows: Height of Building Above 35 Feet Additional Yard Requirements for Districts Noted by 35+ (a) First 10 feet above 35 feet 4 feet for each 10-foot increment, or portion thereof 10.1 to 30 feet above 35 feet 6 feet for each 10-foot increment 30.1 or more above 35 feet 8 feet for each 10-foot increment (Ord. No. O-2008-25, 4-8-08; Ord. No. O-2010-62, § 2, 8-3-10; Ord. No. O-2010-75, §§ 35, 36, 10-5-10; Ord. No. O-2014-68, § 3, 9-2-14; Ord. No. O-2015-31, § 3, 5-5-15; Ord. No. O-2017-1, § 1, 1-3-17; Ord. No. O-2018-47, §§ 22, 23, 6-19-18, eff. 3-1-2019)
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Land Ownership: COA
Legal Description: Unit I Anderson Square PH II

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,485 86,544 137,013
Median Age: 35.52 35.54 36.77
Households: 4,355 37,278 59,136


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