Hard Corner 4 Store CB Investment Property for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30649150
Property Subtypes: Street Retail
Building Size (RSF): 3,835 SF
Gross Land Area: 0.34 Acres
Sale Price: $500,000
Unit Price: $130.38 PSF
Property Use Type: Investment
Building Name: Summerhill Square
Usable Size (USF): 3,835 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/21/2021

Overview / Comments

This 4 Bay Commercial Strip center is located at the intersection of Tennessee Avenue and Carolina Beach Road.

This intersection is slated to have traffic lights put in and is in a prime spot for redevelopment.

The tenancy at this property is has been completely overhauled with new tenants, Martial Arts, Screen Printing and Scotts Retail all on long term leases. One vacancy remains with active interest in the final 750 sf.

For current financials and expenses please call broker.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: Wilmington
Tax ID/APN: R06009-005-020-000
Retail Clientele: General, Family, Business
Property Located Between: Carolina Beach Rd and Washington St
Property Visibility: Excellent
Largest Nearby Street: Carolina Beach Rd
Feet of Frontage: 97
Traffic/Vehicle Count: 41,297
Highway Access: Highway 421
Airports: Wilmington International Airport
Area Description: Sunset park neighborhood
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,835 SF
Property Condition: Average
Year Built: 1988
Roof Type: Flat
Construction/Siding: Brick/Aluminum Siding
Total Parking Spaces: 15
Parking Ratio: 3.9 (per 1000 SF)
Parking Type: Surface
Parking Description: Common Parking field
Interior Description: Different depending on each tenant
Zoning Description: The Community Business District is created to accommodate a broader range of commercial services to meet the daily needs of the surrounding neighborhoods. Development in the CB District will reflect both pedestrian and automobile-oriented types and will be located as directed by adopted plans and policies, and typically accommodate larger scale retail and commercial service uses than the Neighborhood Business (NB) District.
Lot Frontage: 97
Lot Depth: 149
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 16/17/18/19 BLK 27 SUMMER

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,682 51,372 121,301
Median Age: 41.4 37.41 36.6
Households: 3,269 23,961 52,338
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