Opportunity Zone : UMX Zoned : .36 Acre Corner lot on Dawson Street

Retail-Commercial for Sale
Catylist Listing ID: 30703884
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 10,725 SF
Gross Building Area: 10,734 SF
Sale Price: $1,200,000
Unit Price: $111.89 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Usable Size (USF): 10,734 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/8/2021

Overview / Comments

1415 Dawson Street is a multi tenant facility. Redevelopment potential exists or purchase it and enjoy an income stream. The facility is located at the corner of 15th Street and Dawson Streets. The 10,734 sf facility is home to Morning Glory Coffee House, the Superette Market and a vacant work/production area that could be turned into a shared work space.

The property is .36 acres. The building has a new roof circa 2018/2019 after Hurricane Florence damaged the old roof.

Seller also owns a house that has a lot in-between it and this property. Seller is willing to add the house into the sale. Please contact for further information on that opportunity as it is not currently listed.

The properties location makes it a excellent redevelopment opportunity with the UMX zoning. Please see the City of Wilmington zoning ordinance for allowable uses in UMX zoning.

The property has 95 +/- feet of frontage on Dawson Street and 138 +/- feet on 15th street. A survey can provide the remaining boundary footage. It has two curb cuts on Dawson to off street parking and one curb cut currently on 15th street.

30,234 cars pass this property each day on Dawson Street. Dawson Street is the landing spot of the Cape Fear Memorial Bridge and Highway 74/76. Dawson Street turns into Oleander Drive two blocks north of this property.

Nearby Retailers include: Walgreens, Food Lion, Family Dollar, Dollar General, Dairy Queen and multiple other national, regional and local retailers.
It needs to be surveyed as there is a potential encroachment onto a neighbors parcel where the outside patio for the Coffee House is.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R05410-026-009-000
Zoning: UMX
Retail Clientele: General, Business, Tourist
Property Located Between: 14th and 15th streets
Property Visibility: Excellent
Largest Nearby Street: Dawson Street
Feet of Frontage: 95
Traffic/Vehicle Count: 30,234
Highway Access: Direct on to Dawson Street
Airports: ILM
Site Description: 10,734 sf building on .36 +/- acres lot with approximately 4,947 sf of open space.
Area Description: Dawson Street corridor - one way north bound traffic from the Cape Fear Memorial Bridge. This property is located adjacent to the new laundromat and has two vacant parcels bordering it.
Construction/Siding: Block
Parking Type: Surface
Parking Description: There is on street parking (Dawson and 15th) that is not dedicated to any property. The property has room for some parking in the rear on the unpaved land. There is a spot for one vehicle in front of the rear door. In front of the building there is off street parking.
Heat Type: Electricity
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Three spaces, one occupied by the Superette, one by Morning Glory Coffee House and then the rear area which is used for storage. Building Layout is forthcoming.
Zoning Description: UMX
Lot Frontage: 95 +/-
Lot Depth: 138 +/-
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,589 62,555 127,806
Median Age: 37.22 35.71 36.53
Households: 7,090 28,733 55,040
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