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
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