North Wilmington Downtown Development Site
Vacant Land
for Sale
Sale Pending
Also listed as Retail-Commercial
| Catylist Listing ID: |
30264361 |
| Property Subtypes: |
Hospitality, Multi-Family, Office, Retail, Retail-Pad
|
| Status: |
Pending |
| Gross Land Area: |
24,000 SF
|
| Sale Price: |
$1,550,000 |
| Unit Price: |
$64.58 PSF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/15/2021 |
Overview / Comments
|
This prime retail development site is located at the full access lighted intersection of 3rd St and Red Cross St. and it also offers alley access on the other 2 sides. Currently on the property is a building that served as an auto garage in the past and could be retrofitted to a very cool restaurant or bar. Redevelopment potential is extremely high here, among the most active in the area. This site overlooks Cape Fear Community College and is surrounded by new development in every direction. Third St sees heavy traffic daily and the site has a clean environmental bill of health. CBD zoning allows for maximum use of the lot for building envelope.
|
Additional Details
| Nearest MSA: |
Wilmington |
| County: |
New Hanover |
| Taxing Authority: |
Wilmington |
| Tax ID/APN: |
R04813032002000 |
| Zoning: |
CBD |
| Property Located Between: |
SE Corner of Red Cross and N 3rd Street |
| Property Visibility: |
Excellent |
| Legal Description: |
PT LTS 1/2/3/ BLK 220 WILM |
| Largest Nearby Street: |
Martin Luther King Blvd |
| Feet of Frontage: |
150 |
| Traffic/Vehicle Count: |
16,000 |
| Highway Access: |
Martin Luther King Blvd with easy access to Highway 17, 74, 76 and I40 |
| Airports: |
ILM |
| Site Description: |
Paved Lot with no setbacks - for repurpose or knockdown - EXCELLENT Visibility
This prime retail development site is located at the full access lighted intersection of 3rd St and Red Cross St. and it also offers alley access on the other 2 sides. Currently on the property is a building that served as an auto garage in the past and could be retrofitted to a very cool restaurant or bar. Redevelopment potential is extremely high here, amongst the most active in the area. This site overlooks Cape Fear Community College and is surrounded by new development in every direction. Third St sees heavy traffic daily and the site has a clean environmental bill of health. CBD zoning allows for maximum use of the lot for building envelope. |
| Area Description: |
Downtown Wilmington/ Central Business District - Corner Property
Take Eastwood/MLK towards downtown, merges into 3rd St. Property is on the southeast corner of Red Cross and N 3rd St (across from the Shell Station) |
| Lot Frontage: |
150 ft |
| Lot Depth: |
160 ft |
| Zoning Description: |
CBD |
| Topography: |
Level |
| Available Utilities: |
Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
6,788 |
40,325 |
103,578 |
| Median Age: |
35.41 |
36.7 |
35.84 |
| Households: |
3,130 |
18,279 |
44,459 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Cape Fear REALTORS® nor
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