Opportunity Zone UMX Land

Vacant Land for Sale
Catylist Listing ID: 30761916
Property Subtypes: Hospitality, Industrial, Multi-Family, Retail, Retail-Pad
Gross Land Area: 13,200 SF
Sale Price: $525,000
Unit Price: $39.77 PSF
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/9/2022

Overview / Comments

This .3 Acre lot, located at the hard corner of Dawson and S 8th Street is prime for Multifamily / Mixed Use development along with a host of other Commercial uses by right. Zoned UMX for maximum density and minimum setbacks, this lot is cleared, flat and accessed to CFPUA water and sewer. Additionally it is in a federally designated “Opportunity Zone” which provides tax incentives for qualified investors to re-invest unrealized capital gains into low-income communities throughout the state.

Preliminary assessment indicates highest and best use is either 18-24 condos/apartments or seven townhomes.

The combination of flexible zoning, proximity to Historic Downtown and federal tax incentives makes this a unique development opportunity.

Sale is for 718 Dawson St R05409-037-020-000 and 906 SOUTH 8TH R05409-037-019-000

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R05409-037-019-000
Zoning: UMX
Property Located Between: Dawson & South 8th
Property Visibility: Excellent
Feet of Frontage: 123
Available Utilities: Electric, Water, Gas, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,124 47,984 120,934
Median Age: 36.73 36.45 36.34
Households: 5,488 21,879 52,191
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