3.17 Acres & 18,000 + SF Market Street Corridor

Retail-Commercial for Sale
Catylist Listing ID: 30449214
Property Subtypes: Car Wash, Day Care Facility, Free-Standing Building, Garden Center, Mixed Use, Restaurant, Street Retail, Vehicle Related
Building Size (RSF): 18,167 SF
Gross Land Area: 3.17 Acres
Sale Price: $1,900,000
Unit Price: $104.59 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Discount Furniture & Uhaul
Usable Size (USF): 18,167 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/25/2019

Overview / Comments

Rare 3.17 Acre property in central Wilmington location with 5 buildings, plenty of parking and over 18,000 sf of space on one of the most travelled streets in town. The HWY 17 (Market Street) road frontage is 187 ft but do to the shape of the property and the railroad open space next door it feels like it has the visibility of a 300 ft frontage property This property is currently used as a furniture store, Uhaul truck rental location and a tire shop. In the past this property has been used for fuel distribution, a car showroom and service center & a laundromat. The property is zoned CS. CS Zoning is one of the most generous commercial zonings available and allows uses from retail, retail with outside storage, building supply/distribution, Brewery, Pet Vet/Kennel, Entertainment (Bowling, Laser tag, Rink), Mini storage as well as some light industrial uses. **Buyer and buyer's agent should verify uses and requirements or conditions for those uses**. Most of the property is fenced and secured. One of the buildings includes 15 overhead access bay doors from when it was a auto service shop. It is probably one of the only Market Street properties adjacent to train tracks that can accommodate also own rail spur for shipping and receiving. This property is perfect for any business. Buy the property, use a portion of it and lease the rest to help pay for your investment. Properties like this don't come up often.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: Wilmington
Tax ID/APN: R04913-010-002-000
Zoning: CS
Retail Clientele: General, Business
Property Located Between: Covil Ave & Kerr Ave
Property Visibility: Excellent
Largest Nearby Street: Kerr Ave
Feet of Frontage: 187
Highway Access: Located on HWY 17 Eastbound side (AKA Market St)
Airports: Wilmington International Airport
Site Description: 3.17 Acre centrally located property with a mix of 5 buildings from retail, mechanical service with bays to warehouse
Area Description: Market Street/Highway 17 corridor
Tenancy: Multiple Tenants
Total Number of Buildings: 4
Number of Stories: 1
Property Condition: Fair
Year Built: 1950
Construction/Siding: Steel Frame
Parking Type: Surface
Parking Description: Large parking area in front of the building with additional parking in the rear of the property as well as an earea that could possibly be a lay down yard
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Interior Description: Mix of retail, service bays/warehouse and tire shop
Zoning Description: CS Zoning. CS Zoning is one of the most generous commercial zonings available and allows uses from retail, retail with outside storage, building supply/distribution, Brewery, Pet Vet/Kennel, Entertainment (Bowling, Laser tag, Rink), Mini storage as well as some light industrial uses. **Buyer and buyer's agent should verify uses and requirements or conditions for those uses**.
Lot Frontage: 187
Lot Depth: 358
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Gates Enterprises of NC, LLC
Legal Description: (3.17 Acres) PT Pearsall WM

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,606 77,882 127,194
Median Age: 28.15 34.4 36.25
Households: 6,617 33,679 54,432
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