Historic Downtown Building CBD

Retail-Commercial for Sale
Catylist Listing ID: 30660625
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 2,129 SF
Gross Building Area: 2,790 SF
Sale Price: $675,000
Unit Price: $317.05 PSF
Ceiling: 10 ft.
Property Use Type: Investment
Usable Size (USF): 2,129 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/22/2021

Overview / Comments

Fantastic opportunity for investment or 1031 Tax Exchange in the heart of Downtown Wilmington. The ground floor features a Mexican street food restaurant with lease in place through December 2021. Above the restaurant is a two story walk up currently used as vacation rental and short term housing for Wilmington's filmmakers, producers, and artists. All furniture conveys. Recent improvements include 4 HVAC units (2017), new roof (2017). Structural report and Phase I ESA available upon request.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: Wilmington
Tax ID/APN: 311708.88.2876.000
Zoning: CBD
Retail Clientele: General, Business, Tourist
Property Located Between: 3rd Street and 2nd Street
Property Visibility: Excellent
Largest Nearby Street: 3rd Street
Feet of Frontage: 33
Airports: 3.5 miles Wilmington International
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Good
Year Built: 1906
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Stucco and Brick
Parking Description: Street
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Internet Access: Cable
Zoning Description: CBD
Lot Frontage: 33
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PT LOT 5 + BLDG BLK 179

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,670 40,325 111,237
Median Age: 35.65 36.7 36.2
Households: 4,384 18,279 48,038

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