Iconic Downtown Market Street Building For Sale

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30723499
Property Subtypes: Free-Standing Building, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 9,610 SF
Gross Land Area: 0.14 Acres
Sale Price: $1,922,000
Unit Price: $200 PSF
Property Use Type: Vacant/Owner-User
Building Name: Former Ziggy's By The Sea Location
Usable Size (USF): 9,610 SF
Core Factor: 100%
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/12/2021

Overview / Comments

Iconic Downtown Music Venue and Bar, most well-known as former "Ziggy's By The Sea" location.

Ground Floor - 6110+/- SF; Mezzanine - 3500+/- SF.

Ideal Downtown Location for Brewery, Bar, Entertainment Venue, Retail, Office, Restaurant, etc. Located on Market Street between Second Street and Third Street with highest traffic counts in the downtown area. Multiple Parking Decks, Surface Lots and on-street Parking within short walking distance.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Submarket Type: Central Business District
Taxing Authority: New Hanover County
Tax ID/APN: R04817-034-004-000
Zoning: CBD - CENTRAL BUSINESS DISTRICT (CITY OF WILMINGTON)
Retail Clientele: General, Family, Business, Traveler, Tourist, Convention
Property Located Between: On Market Street between 3rd & 4th Streets
Property Visibility: Excellent
Largest Nearby Street: Market Street, 3rd Street
Traffic/Vehicle Count: 9,300
Highway Access: Located on Market Street (US Highway 17 - Business) 1.1 Miles to US Highway 74 via N. 3rd Street (at Isabella Holmes Bridge) 0.8 Miles to US Highway 421 via S. 3rd Street (at Cape Fear Memorial Bridge)
Airports: ILM - 5.0 Miles via N. 3rd Street, MLK Parkway & N. 23rd Street
Site Description: Two-Story Brick Facade with Glass Storefront Building located at highest traffic count corner in Downtown Wilmington.
Area Description: Courtesy of WDI: Downtown Wilmington is the economic and social hub for the region. With boundaries spanning from the Cape Fear River to the west, the Isabel Holmes Bridge to the north, to the Memorial Bridge to the south and 5th Avenue to the east, Downtown is home to about 880 businesses, 10,800 workers, and 3,100 residents. As a hospitality and tourism center, Wilmington also boasts an amazing 1.75-mile long riverwalk, hotels, convention and meeting space, museums, cultural facilities and one of the largest historic districts in the County.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 6,110 SF
Property Condition: Average
Year Built: 1920
Year Renovated: 1980
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick Facade with Glass Storefronts
Parking Type: Surface, Other
Parking Description: Several Parking Decks, Surface Lots & On-Street Parking are located throughout Downtown Wilmington
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Currently set up as Live Music Venue with Ground Floor that slopes down to Stage Area... Multiple Offices, Storage and Control Rooms... Mezzanine surrounding Stage Area.
Zoning Description: CBD - Central Business District (City of Wilmington)
Lot Frontage: 50'
Lot Depth: 120'
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: 208 Market Properties, LLC.
Legal Description: PT LTS 1-4 BLK 153 WILM

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,670 38,324 111,724
Median Age: 35.65 36.45 36.35
Households: 4,384 17,619 48,452
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