3 Parcels For Sale Historic Downtown Wilmington

Office for Sale
Catylist Listing ID: 30265717
Building Size (RSF): 3,288 SF
Gross Land Area: 0.21 Acres
Sale Price: $395,000
Unit Price: $120.13 PSF
Property Use Type: Investment
Class of Space: Class C
Usable Size (USF): 3,288 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/18/2018

Overview / Comments

This packaged offering consists of two buildings which are situated on three contiguous lots. 507 Chestnut street is a free-standing single story office building measuring 864 SF. It has a long continuous occupancy by Bernard Real Estate, who is currently on a month-to-month lease. Lot size is 2,640 SF. 509 Chestnut street is currently a gravel parking lot which provides off street parking to both of the office buildings (507 Chestnut & 513 Chestnut). Lot size is 4,356 SF. 513 Chestnut Street is a 2,424 SF two-story frame office building which was originally constructed in 1920 as a home. Surveying has occupied this building as a tenant since the 1980's. The firm is also on a month-to-month lease. All of these properties are zoned HD-MU, which allows for a mix of residential and office uses. Lot size is 2,178 SF. The owner prefers to sell these properties as a package. The tenants are aware of the properties being for sale and are willing to stay on a month-to-month basis or they will relocate if the property is purchased by an owner occupant. The property is only a 3-minute walk to City Hall & the New Hanover County Courthouse. Contact listing agent to schedule a showing.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: 3117-99-4359.000
Zoning: HD-MU
Property Visibility: Excellent
Total Number of Buildings: 2
Zoning Description: Historic District-Mix Use
Legal Description: 3 parcels - WM 6 Wilmington BLK 195

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,972 42,806 105,537
Median Age: 35.86 36.25 35.94
Households: 4,481 19,478 45,151

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