219 S. Water St. Mixed Use / CBD Zoning

Retail-Commercial for Sale
Catylist Listing ID: 30348176
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Other
Building Size (RSF): 3,489 SF
Sale Price: $1,249,000
Unit Price: $357.98 PSF
Ceiling: 12 ft.
Property Use Type: Vacant/Owner-User
Usable Size (USF): 3,489 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/8/2018

Overview / Comments

DOWNTOWN WILMINGTON with water views! 3 sparkling units. Unlike anything else in downtown Wilmington! Formerly a warehouse, this conversion to mixed use on Water Street is as unique as it gets. This 3 story freestanding building is located in the Chandler's Wharf area. This building was originally part of the Hanover Iron Works complex. This building was newly constructed approx.12 years ago incorporating the antique brick walls of the old warehouse to maintain a vintage feeling. The exterior is brick & stucco accented with iron balconies & windows. This building was designed to allow for an easy condo conversion if desired and is fire sprinkled. All 3 units have separate electric & water meters. Upscale features include high ceilings, exposed metal duct work, ceramic tile & wood floors. Includes 3 deeded parking spaces and is located next door to a public parking area as well.
Sweeping views of the Cape Fear River, both bridges, the Battleship & the Wilmington Historic District await you. This will be your favorite spot for fireworks for years to come.
This building offers an easy conversion for many uses or enjoy it as it is. The first floor is ideal for a bar, small restaurant, gallery, retail or office space. The 2nd floor has a one bedroom unit and also has a gym. The penthouse on the top floor is probably one of the nicest downtown apartments you will see. Truly an impressive space to live and entertain. This space has been the home for many celebrities while visiting Wilmington. Beautiful condition in a superb location. High and dry during Hurricane Florence with no flooding on Water Street in this area!

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R05308-008-001-000
Zoning: CBD
Retail Clientele: General, Business, Tourist
Property Visibility: Excellent
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 1,163 SF
Property Condition: Excellent
Year Built: 2006
Year Renovated: 2006
Roof Type: Other
Construction/Siding: Brick, Stucco
Total Parking Spaces: 3
Parking Type: Surface
Parking Description: 3 paved spaces at the rear of building.
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Zoning Description: CBD Zoning
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOT 1 WILMINGTON IRON WORKS

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,591 40,353 111,009
Median Age: 36.07 36.3 36.37
Households: 3,914 18,467 48,167

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