The Harrelson Building: Class A Downtown Office Space For Sale

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30745404
Property Subtypes: Governmental, Institutional, Mixed Use, Net Leased, Office Building
Status: Pending/Contingent
Building Size (RSF): 46,863 SF
Gross Building Area: 50,765 SF
Gross Land Area: 0.90 Acres
Sale Price: $11,000,000
Unit Price: $234.73 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: The Harrelson Building
Class of Space: Class A
Usable Size (USF): 46,863 SF
Core Factor: 14.50%
Sale Terms: Cash to Seller
Last Updated: 1/22/2022

Overview / Comments

Class A downtown office building available for sale. The Harrelson Building is conveniently located at the corner of 3rd & Chestnut Streets. Built in 1990 and recently completely remodeled, the building has 46,863 total rentable SF* and 50,765 gross SF * consisting of five (5) floors with a double drive through & canopy. the city parking deck is located on the southwest side of the building. Multiple points of ingress/egress to the property are available; directly from 3rd Street, via a driveway from 2nd Street and over the adjacent parking lot on chestnut street. The location alone demands a higher value than other similar properties. Lease rate of $25.50 per RSF Full Service, net janitorial. An expense stop of $8.30 per RSF in included in the lease rate. The Tenant will be responsible for Tenant's share of operating costs in excess of the expense stop. The building is 93.5% occupied.

The offering includes 115 N 3rd St. & 210 Chestnut St.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R04817-017-002-001, R04817-017-002-000
Property Located Between: 3rd St and Chestnut St.
Property Visibility: Excellent
Airports: ILM
Site Description: IN CITY LIMITS: Yes
Area Description: Central Business District
Total Number of Buildings: 1
Number of Stories: 5
Year Built: 1990
Year Renovated: 2020
Parking Type: Surface
Parking Description: 28 parking spaces come with sale. Municipal deck is directly adjacent to the property.
Total Parking Spaces: 28
Passenger Elevators: 2
Interior Description: Electric Provider: Duke Energy
Water Service: Other
Sewer Type: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,437 40,325 112,579
Median Age: 35.43 36.7 36.18
Households: 3,840 18,279 48,553
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