1306 N 23rd Street, Wilmington, NC 28405
$2,650,000
Property Type:
Comm Sale or Lease
Square Footage:
2,500
Lot Size (sq. ft.):
87,120
Status:
Closed
Current Price:
$2,650,000
List Date:
1/16/2023
Last Modified:
3/06/2023
Description
Industrial Warehouse located on the most up an coming corridors in Wilmington. This extremally versatile property checks all the boxes. Approximately 1 mile from the ILM Airport, on the going home side of the road, and at a lighted corner at the base of the on ramp to MLK BVD. Giving quick access to downtown Wilmington, Wrightsville Beach and I-40 Corridors. The property is currently lease to Wilmington Heating and Air Conditioning. The yare willing to sign a 7 year lease at $240k a year offering this property at an 8% CAP rate NN to investor buyers. Not only does the property offer an immediate investment return but as Wilmington grows this site and corridor have opportunities at a second life for redevelopment with C - Store potential or other redevelopment.
More Information MLS# 100360919
Contract Info
Garage: N/A
Sale/Lease: Sale
Auction: No
List Price/SqFt: 1200
Stipulation of Sale: Standard
Status: Closed
Marketing Start Date: 2022-12-07
Listing Price: 3000000
Current Price: $2,650,000
Location Information
City Limits: No
Marketing City: Wilmington
Secondary Subdivision: N/A
Street #: 1306
Pre Direction: N
Street Name: 23rd
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28405
Subdivision: Smith Creek Estates
Geo Lat: 34.253078
Geo Lon: -77.919069
Remarks and Showing
Sign on Property: Yes
Directions to Property: Martian Luthur Kind Blvd. to 23rd street / Airport Exit. Take a right property is on the left right after on ramp to MLS an scientific BLVD.
Building Info
New Construction: No
Building/Ext Features
Lot Acres: 2
Lot SqFt: 87120
Lot Dimensions: 200 X 450
Location Type: Mainland
Legal and Taxes
Tax Assessed Value: 1365000
Deed Book: 6253
Deed Page: 442
Legal: Smith Creek Ind Pk Sec 1 WM
Broker Owner: No
PID: R04807-003-001-000
Tax Identifier: R04807-003-001-00
Plat Book: 6460
Plat Page: 1131
Special Assessments: None
Tax Year: 2022
Zoning: AI
HOA: No
Cobra Zone: No
Federal Flood Ins Avlbl: Yes
Year Built: 1979
Business Type
Industrial: 1
Warehouse: 1
HOA and Neigh Amenities
Outdoor Pool: 1
C & I Features
Reception Area: 1
Storage Outside: 1
Construction
Metal Fab: 1
Current Service Providers
Electric Provider: Duke Progress Energy
Exterior Finish
Metal Siding: 1
Terms
1031 Exchange: 1
Cash: 1
Conventional: 1
Flooring
Concrete: 1
Parking Features
Asphalt: 1
Sale/Lease Includes
Buildings: 1
Lot Description
Corner Lot: 1
Road Type/Frontage
Paved: 1
Public (City/Cty/St): 1
Road/Trans Access
Airport: Less than 5 Miles
Interstate: Less than 5 Miles
Port: Less than 5 Miles
Heating
Heat Pump: 1
Heating System Fuel Source
Electric: 1
Water Heater
Electric: 1
Water Source
Public: 1
Sewer
Municipal Sewer: 1
Financial Info
Gross Income: 240000
Cap Rate %: 8
BuildingExt Features
SqFt - Heated (Primary): 2500
Status Change Info
Under Contract Date: 2023-01-18
Sold Price: $2,650,000
Sold Date: 2023-03-03
Property Features
Business Type: Industrial; Warehouse
HOA and Neigh Amenities: Outdoor Pool
Construction: Metal Fab
Exterior Finish: Metal Siding
Flooring: Concrete
Parking Features: Asphalt
Lot Description: Corner Lot
Heating: Heat Pump
Heating System Fuel Source: Electric
Water Heater: Electric
Sewer: Municipal Sewer
Water Source: Public; Public
Terms: 1031 Exchange; Cash; Conventional
Listing Office:
Intracoastal Realty Corp
IDX
Last Updated: March - 06 - 2023
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