Catylist ID:
#30651392
Downtown Redevelopment!
Retail-Commercial
for Sale
Also listed as Vacant Land, Office
| Catylist Listing ID: | 30651392 |
| Property Subtypes: | Free-Standing Building |
| Building Size (RSF): | 4,328 SF |
| Gross Land Area: | 0.40 Acres |
| Sale Price: | $590,000 |
| Unit Price: | $136.32 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Vacant/Owner-User |
| Usable Size (USF): | 4,328 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 1/7/2021 |
Overview / Comments
|
SUBSTANTIAL PRICE DROP! Great reuse/redevelopment potential for 616 Market St AND 10 S 7th St. Existing building is in shell condition, and could be repurposed or removed. Lot is 0.25 acres. Parcel adjacent and behind 616 Market is currently a parking lot. This is 0.15 acres and combined with 616 Market it's a total of 0.40 acres. A plan previously approved by the city indicates 30+ parking spaces. Neighboring property (house/office) at 8 S 7th St is potentially available but has no off-street parking. Could be a good opportunity to combine all three parcels/buildings. Great visibility with Market St frontage, between 6th and 7th street, adjacent to David Lyle Architecture and Carolina Retirement Planners. Previously approved plans for a law office with parking is attached to this listing. Links to HD and HD-R zoning: https://library.municode.com/nc/wilmington/codes/code_of_ordinances?nodeId=PTIIITECO_CH18LADECO_ART5ZODIRE_DIVIIDIRE_S18-187HDHIDI https://library.municode.com/nc/wilmington/codes/code_of_ordinances?nodeId=PTIIITECO_CH18LADECO_ART5ZODIRE_DIVIIDIRE_S18-189HIDISI |
Attachments & Media
Additional Details
| Nearest MSA: | Wilmington |
| County: | New Hanover |
| Taxing Authority: | Wilmington |
| Tax ID/APN: | R04817-038-013-000 AND R04817-038-011-000 |
| Zoning: | HD (HISTORIC DISTRICT) |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Market St |
| Airports: | ILM |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 4,328 SF |
| Year Built: | 1961 |
| Year Renovated: | 1990 |
| Roof Type: | Flat |
| Construction/Siding: | Block |
| Exterior Description: | Brick over block. Interior walls mostly block. |
| Parking Type: | Surface |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 12,290 | 39,424 | 119,389 |
| Median Age: | 36.18 | 35.98 | 36.44 |
| Households: | 5,544 | 18,295 | 51,162 |
Contact
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