10,000 SqFt +/- Urban Mixed Use Land For Sale

Vacant Land for Sale
Catylist Listing ID: 30744529
Property Subtypes: Multi-Family
Gross Land Area: 9,553 - 10,000 SF
Sale Price: $179,000
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Last Updated: 9/29/2021

Overview / Comments

9600 SqFt +/- lot zoned Urban Mixed Use located at the corner of Wooster and S 4th St. in the Opportunity Zone. One block from the proposed Starbucks and the recently re-built Burger King. The Pearl and Mini Pearl across the street have demonstrated strong rental history since opening over the past 12-24 months. Survey attached - NOTE: City's easement is negotiable in exchange for a well designed project, especially in exchange for workforce housing. With a commercial use component, zoning allows unlimited density. Seller has marketable title policy and is the listing broker. Water taps are onsite and sewer is at the sidewalk.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R05409-028-001-000, R05409-028-002-000 & R05409-028-004-000
Zoning: UMX
Property Located Between: Dawson and Wooster Streets
Property Visibility: Excellent
Largest Nearby Street: Wooster Street
Traffic/Vehicle Count: 22,000
Highway Access: Great Access to Brunswick County, Hwy 74/76, Hwy 421, Hwy 17, etc.
Airports: ILM
Site Description: High, rolling lot with great visibility.
Lot Frontage: 105
Lot Depth: 93
Zoning Description: The urban core of the city, primarily that area within the 1945 corporate limits, contributes to the unique character of the City of Wilmington. The UMX is established to assure an appropriate development pattern is maintained within the 1945 corporate limits through five (5) main objectives: to enhance and preserve existing urban development patterns by encouraging compatible infill and redevelopment; to affect quality design and a variety of built forms of lasting value that result in a pedestrian scale; to provide a mix of housing options; to promote and enhance transit options, particularly those that are pedestrian-oriented, while reducing demand for automobile trips; and to encourage a mix of uses that fosters a sense of community. The district regulations include design elements intended to enhance the urban form, increase neighborhood safety, add flexibility for small, urban lots, and complement the historic built environment. Integrated mixes of uses on development sites and within individual buildings is encouraged. UMX zoning inside the 1945 corporate limits is intended to reinforce and restore traditional mixed-use patterns in the older parts of Wilmington. UMX zoning outside the 1945 corporate limits is intended to promote mixed-use developments on sites large enough to create a mix of uses within the existing suburban environment. Typically these developments will include creative development and redevelopment solutions such as integrated, vertical mixed use and structured parking. This district is not intended to be applied to the Central Business District (CBD), nor any of the historic districts.
Easements Description: City easement for proposed ADA sidewalk. Negotiable with the a well designed project. The city owns the lot across S 4th St where ADA access can be achieved.
Soil Type: Sandy
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,893 49,365 115,562
Median Age: 37.28 36.44 36.55
Households: 5,539 22,402 50,111
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