Historic Mixed Use

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30413487
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Status: Pending
Building Size (RSF): 10,800 SF
Gross Building Area: 11,354 SF
Sale Price: $2,900,000
Unit Price: $268.52 PSF
Ceiling: 161313 ft.
Property Use Type: Investment
Usable Size (USF): 9,285 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/23/2021

Overview / Comments

This historic 100+ year old structure was wonderfully rehabilitated in 2016 and provides a mix of loft style spaces, including ground level retail, second floor offices and a third floor residential loft. The rehabilitation took care to maintain the historic character of the building while upgrading all mechanical, electrical and plumbing systems. The interior includes exposed masonry, original and reclaimed hardwood flooring, high ceilings and new large windows. Vertical access is provided via a dramatic open riser wood and steel stair and via a new elevator. Overlooking N Front St, the building sits squarely in the middle of the revitalizing north side of downtown Wilmington. 216/220 N Front Street is surrounded by major new mixed use development projects and renovations of existing structures, bringing new life and vitality to the immediate area. Tenants of the building will be surrounded by unique retail, restaurants and lounges, all within an easy walk. Street level parking is available and two major parking decks are a block from the front door. The property is currently vacant providing significant potential for multi-tenant occupancies or potential to condo off units on all floors.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R04720006007000
Zoning: CBD
Property Located Between: Chestnut & Grace Streets
Property Visibility: Excellent
Largest Nearby Street: Front Street
Feet of Frontage: 38
Airports: ILM
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 3,600 SF
Property Condition: Excellent
Year Built: 1905
Year Renovated: 2015
Roof Type: Hip
Construction/Siding: Brick
Exterior Description: Large Storefront and wood first floor, historic brick and metal windows upper floors
Parking Description: 2 public parking decks within 2 blocks
Passenger Elevators: 1
Heat Type: Natural Gas
Heat Source: Heat Pump
Air Conditioning: Package Unit
Interior Description: Interior spaces include many of the original historic features, including brick, wood flooring and wood paneling.
Zoning Description: Central Business District
Lot Frontage: 38
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,437 40,325 106,004
Median Age: 35.43 36.7 36.22
Households: 3,840 18,279 45,498


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