S 16th and Dawson Street-Commercial lot/building/warehouse

Retail-Commercial for Sale
Catylist Listing ID: 30643503
Property Subtypes: Convenience Store, Day Care Facility, Free-Standing Building, Garden Center, Mixed Use, Parking Facility, Restaurant, Retail-Pad, Street Retail, Other
Building Size (RSF): 7,125 SF
Gross Land Area: 39,780 - 40,502 SF
Sale Price: $1,040,000
Unit Price: $145.96 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: Port City Escape and Warehouse
Usable Size (USF): 7,125 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/29/2020

Overview / Comments

This Commercial Property is located in the City of Wilmington's Urban Mixed Use District. Property consists of two separate structures totaling 7,125 SF positioned one of two combined parcels consisting of approximately 39,780 SF(.91 acres). The building close to S 16th street is made up of Retail/Office/Activity Space of 3,452 SF. This space is currently the home of Port City Escape Room. The business is not included in the sale of real estate and is still operating and will relocate. On the east side of the property there is a Warehouse Space consisting of 3,673 SF with a loading dock and wide open work areas. The property adjoining to the south, that is on Dawson Street, is a .54 acre clear lot currently used as a parking lot that is in addition to the parking on the north side of the property.

This property is located near a high traffic, well defined, traffic light controlled, high visibility intersection .This property is within minutes of Downtown, Hospital Corridor, Container District, Castle Street,  Mid-town and many residential neighborhoods.

The Urban Mixed Use district zoning opens up the potential development of this site. The upgrades to the existing buildings and the access to parking enable a business to move right in or enable an investor to lease to multiple tenants at a nice return. The opportunity is wide open.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R05411-013-002-000
Zoning: UMX
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: 16th and 17th
Property Visibility: Excellent
Largest Nearby Street: Dawson
Feet of Frontage: 180
Highway Access: 74/76, MLK to I 40 and US17
Airports: ILM
Site Description: Urban Mixed Use District located at highly visible intersection. Two separate structures: 1). Retail/Office/Activity Space constituting of 3,452 SF, 2). Warehouse Space consisting of 3,673 SF adjoining a .54 acre clear lot currently used as a parking lot. High traffic well defined, traffic light controlled intersection.
Area Description: Commercial Property located in the City of Wilmington's Urban Mixed Use District. Property consists of Two separate structures totaling Retail/Office/Activity Space constituting of 3,452 SF, 2). Warehouse Space consisting of 3,673 SF adjoining a .54 acre clear lot currently used as a parking lot. High traffic well defined, traffic light controlled intersection.  Busy intersection close to Downtown, Hospital corridor, Container District, Castle Street,  Mid-town and residential neighborhoods.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1945
Year Renovated: 2014
Roof Type: Other
Construction/Siding: Concrete
Exterior Description: concrete, brick and metal exterior.
Total Parking Spaces: 50
Parking Type: Surface
Parking Description: Surface parking lots
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central, Other
Air Conditioning: Engineered System, Package Unit
Internet Access: Other
Interior Description: First building, interior complete, restrooms, offices and meeting rooms. Second building is an open warehouse
Zoning Description: UMX- See attached zoning information or contact the City of Wilmington.
Lot Frontage: 180
Lot Depth: 221
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Yog World Domination LLC
Legal Description: PT LTS 3/4 BLK 521 WILM PT 5 W 6 WILM BLK 521

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,491 62,555 130,975
Median Age: 37.4 35.71 36.38
Households: 7,442 28,733 56,486

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