124 S Front Street, Wilmington, NC 28401 (MLS# 100190092)

124 S Front Street, Wilmington, NC 28401

$1,470,000
Property Type: Comm Sale or Lease Square Footage: 14,799 Lot Size (sq. ft.): 17,833 Status: Closed
Current Price: $1,470,000 List Date: 10/24/2019 Last Modified: 4/09/2020

Description

ocated in the Central Business District of Historic Downtown Wilmington with frontage on two high pedestrian trafficked and moderate vehicle trafficked streets, Old-Wilmington City Market has been positioned as a retail node in the South Front Street corridor for over 130 years. This Circa 1887, exquisitely preserved +/-14,700sf building is a unique investment opportunity in the rapidly growing section of Front St south of Market. Just steps to the Riverwalk and myriad boutique hotels, fine dining, shopping and nightlife, this location is prime for continuing its current use as a boutique shopping destination and/or exploring new business verticals such as the booming wedding and event industry. Old-Wilmington City Market is designed as a mini downtown streetscape with shops flanking The offering includes a vacant +/-.16 acre riverfront lot addressed 122 S Water St, prime for building and connecting to the Riverwalk with rights to dockage and potential for approximately 100' of floating dock. This site is perfect for a mixed use building including a restaurant, residential and event space. CBD zoning allows a variety of commercial and hospitality uses and is the only zoning that allows short term vacation rentals in the Historic District.

More Information MLS# 100190092

Contract Info

Status: Closed Marketing Start Date: 2019-07-11 Sub-Type: Improved Garage: N/A Space: No Sale/Lease: Sale Auction: No Listing Price: 1800000 Current Price: $1,470,000 List Price/SqFt: 121.63 Stipulation of Sale: Standard

Location Information

Street #: 124 Pre Direction: S Street Name: Front Street Suffix: Street County: New Hanover State/Province: NC Zip Code: 28401 City Limits: Yes Marketing City: Wilmington Subdivision: Downtown Secondary Subdivision: N/A Geo Lat: 34.23332 Geo Lon: -77.948928

Remarks and Showing

Directions to Property: take Market Street/Highway 17 to downtown. Building and lot located between Dock Street and Orange Street. Sign on Property: Yes

Building Info

New Construction: No

BuildingExt Features

SqFt - Heated (Primary): 14799

Legal and Taxes

Tax Assessed Value: 1143200 Deed Book: 5797 Deed Page: 1814 Legal: ALL 5 PT 4 WILM BLK 138 Broker Owner: No PID: 311708.77.7601.000 Tax Identifier: R05308-005-004-000 Special Assessments: none Tax Year: 2018 Year Built: 1887 Zoning: cbd HOA: No Cobra Zone: Yes Federal Flood Ins Avlbl: Yes

Status Change Info

Under Contract Date: 2019-10-18 Sold Price: $1,470,000 Sold Date: 2020-03-03

Property Features

Business Type: Retail; Shopping Center Construction: Brick/Stone Exterior Finish: Stone Flooring: Concrete; Tile; Wood Foundation: Crawl Space; Slab Roof: Membrane
Listing Office: Nest Realty
Last Updated: April - 09 - 2020
124 S Front Street, Wilmington, NC 28401- MLS# 100190092
Copyright 2024 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.