$3,075,000

221 2nd Street

Wilmington NC, 28401

Description

Great Investment and development opportunity right in the heart of Wilmington's Central Business District. This 12,528 square foot office building has been the home of a number of Wilmington's well known businesses and is currently occupied by a long-term tenant. The two-story structure sits on just over .27 acres of prime land, right downtown. The location is near shopping, restaurants, hotels, government offices, courthouse, and is surrounded by new development. Adjoining the building is a parking lot that provides convenience to the office and opens up a development opportunity too. The central business district zoning permits a wide range of uses and business classification by right. This property is an ideal candidate for additional in-fill that could substantially increase the usable foot print. The current code allows building height of 100 feet by right and 132 feet with a special use permit. Having the ability to build right up to the lot line further advances the building scale and footprint that could be achieved.A mixed use style structure combined with the existing well-maintained building opens up the opportunity for growth. Many upgrades and improvements to this property makes this a solid investment and an income generating opportunity.

Details

MLS#100272627
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1913
Days On Site197

Features

N/A12,528
Story(s)1
Units1
ZoningCBD
Jeffrey G Hovis LogoMLS Number: 100272627
Listing Provided By:
Jeffrey G Hovis  of  Intracoastal Realty Corp
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Area Information
StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Listing VS Median (in 28401)
Price:
$3,075,000
low | high
Med:
$304,990
100% of Average
SqFt:
12,528
low | high
Med:
1,343
100% of Average
$ / SqFt:
$245
low | high
Med:
$227
57.477744401867% of Average
On Site:
197
low | high
Med:
100
100% of Average
Sourced by Back At You
Listing Updated: December 4, 2021 8:41:55 PM PST