Exceptional commercial property development opportunity in the South End of Wilmington. This property is in an Opportunity Zone and is situated in a high-traffic area with excellent visibility. The parcel consists of 1.9 acres with warehouse structure that is almost 45,000 square feet in size. Property has 250 feet of… Read More frontage on S 5th Street and 330 feet of frontage on Martin Street. The property is zoned UMX(Urban Mixed Use) which permits the operation and use of the of the property for commercial and residential uses, including offer, restaurants, medical offices and retail. This property is ideal for a wide range of commercial mixed uses. The existing structure could be repurposed for retail, office space, mixed use, multifamily or a combination of several uses. Ample parking is available on site on or on street. The surrounding area consists of a mix of residential neighborhoods, businesses, and amenities, making it a hub of activity and potential foot traffic. Current owner has done a great deal of work to open the opportunity for someone to continue with existing plans or to expand in another direction. The interior has been partially demoed and has been opened up. The seller has other holding in the area and is open to expanding the availability of additional land. A very rare opportunity. Read Less
Courtesy of Jeffrey G Hovis, Intracoastal Realty Corp
Listing Snapshot
Days Online
339
Last Updated
Property Type
Improved
Square Ft.
44,841
Lot Size
1.9 Acres
Year Built
1992
MLS Number
100456498
30 Days Snapshot Of 28401
$389k
-10%
(avg) sold price
35
+12%
homes sold
68
-20%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road/Trans Access: Airport: 6 - 10 Miles, Road/Trans Access: County Highway: 6 - 10 Miles, Road/Trans Access: Interstate: Less than 5 Miles, Road/Trans Access: Port: Less than 5 Miles, Road/Trans Access: Rail: Less than 5 Miles, Road/Trans Access: State Highway: Less than 5 Miles
Attic Information
None
Basement
None
Cooling
None
Exterior Features
Block, Brick
Floors
Concrete
Foundation
Slab
Water Features
None
Heating
None
Home Owner's Association
HOA Amenities: No Amenities
Lot
82,808 sqft lot, Lot Description: See Remarks, Lot Dimensions: 250 x331 x250 x 331, Lot Water Features: None, 1.9 acres
Parking
Parking/Driveway: Off Street, Paved, Parking Lot, On Site, 40 parking spaces
Property
1 unit, 44,841 heated sqft, 44,841 total available sqft, Built in 1992, C & I Features: None, Construction: Block, Steel Frame, Federal Flood Insurance available, List Price/SqFt: $44, Zoning: UMX
Roof
Flat
Sewer
Natural Gas Available, Water Available
Taxes
City Tax Rate: 6418, County Taxes: $10,049, Property Taxes: $10,049, Tax Year: 2023
Utilities
Electric Provider: Duke Progress Energy, Sewer Provider: Cape Fear Public Utility Authority, Water Provider: Cape Fear Public Utility Authority
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