Historic Building in the heart of Downtown Wilmington

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30732134
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 3,850 SF
Sale Price: $1,150,000
Unit Price: $298.70 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Usable Size (USF): 3,850 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 12/24/2021

Overview / Comments

Located in the heart of the Downtown Historic district at N Front and Princess streets, this 3-story brick building ( Circa 1900 ) , presents multiple opportunities for development, or as an investment property in it’s current configuration. Excellent high traffic location in the Commercial Business District and just one block to the riverfront. The first floor is approximately 1800 SF of high profile retail space. The second floor and mezzanine features 4 offices, conference room, two full bathrooms, kitchenette and storage for a total of 1800SF.. The basement is 400 SF of open space and is currently leased as an art gallery. Note the the basement has a low ceiling.

CBD zoning offers numerous opportunities for investor from mixed -use residential, commercial, with current height restriction of 100 feet.

Do not disturb the tenants.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R04720-008-006-000
Zoning: CBD
Retail Clientele: General, Family, Tourist, Convention
Property Located Between: Princess and N Front
Property Visibility: Excellent
Largest Nearby Street: N Front
Feet of Frontage: 20
Total Number of Buildings: 1
Property Condition: Good
Year Built: 1930
Roof Type: Flat
Construction/Siding: Brick
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal
Legal Description: MW END 5 BLK 178

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,670 40,325 109,607
Median Age: 35.65 36.7 36.25
Households: 4,384 18,279 47,317
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