261 N. Front

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30523653
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Status: Pending
Building Size (RSF): 8,688 SF
Gross Building Area: 9,570 SF
Gross Land Area: 4,719 SF
Sale Price: $1,750,000
Unit Price: $201.43 PSF
Ceiling: 12 ft.
Property Use Type: Investment
Building Name: 261 N. Front St.
Usable Size (USF): 8,688 SF
Core Factor: 9%
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/21/2020

Overview / Comments

Mixed Use Three story building with functional walk out basement Top floor has 4 apartments, just remodeled. All leased. Front Street level leased. Water Street level unoccupied. For lease, see listing # .Located 1/2 block from Cotton Exchange. Backs up to new River Place development and parking deck. 3 hotels one block away. Very good foot traffic.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington
Tax ID/APN: R04720-007-018-000
Zoning: CBD
Retail Clientele: General, Tourist, Recreation, Convention
Property Located Between: Grace Street and Chestnut Street
Property Visibility: Excellent
Largest Nearby Street: North Front Street.
Feet of Frontage: 33
Highway Access: MLK expressway. US 431 (3rd St.)
Airports: ILM 6 minutes
Site Description: Common wall adjoining buildings. Fronts on sidewalk.
Area Description: Historic Downtown one block from Water Street and Riverwalk. 3 hotels within one block 450 rooms total.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 2,500 SF
Property Condition: Good
Year Built: 1890
Year Renovated: 2019
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Structure, Surface
Parking Description: On street and 2 adjacent parking decks
Heat Type: Electricity
Heat Source: Central, Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Variable.
Zoning Description: Central Business District Mixed Use
Lot Frontage: 33
Lot Depth: 143
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: NE 1/4 2 Wilmington Blk 190 Deed book 1570 page 712

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,437 34,493 101,521
Median Age: 35.43 38.65 35.87
Households: 3,840 15,617 43,659
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