221 N 2nd Street, Wilmington, NC 28401
$2,975,000
Property Type:
Comm Sale or Lease
Square Footage:
12,528
Lot Size (sq. ft.):
11,761
Status:
Closed
Current Price:
$2,975,000
List Date:
5/21/2021
Last Modified:
5/20/2022
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.
More Information MLS# 100272627
Contract Info
Sub-Type: Improved
Garage: N/A
Space: No
Sale/Lease: Sale
Auction: No
List Price/SqFt: 245.45
Stipulation of Sale: Standard
Status: Closed
Marketing Start Date: 2021-05-21
Listing Price: 3075000
Current Price: $2,975,000
Location Information
City Limits: Yes
Marketing City: Wilmington
Secondary Subdivision: N/A
Street #: 221
Pre Direction: N
Street Name: 2nd
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28401
Subdivision: Downtown
Geo Lat: 34.23842
Geo Lon: -77.948075
Remarks and Showing
Sign on Property: No
Directions to Property: Take Market Street toward downtown Wilmington, turn right on N 2nd Street, cross over Chestnut and property is on the left.
Building Info
New Construction: No
Building/Ext Features
# of Parking Spaces: 20
# of Units: 1
Lot Acres: 0.27
Lot SqFt: 11761
Lot Dimensions: 100 x 119
SqFt - Total Available: 12528
Location Type: Mainland
Legal and Taxes
Tax Assessed Value: 1142900
Deed Book: 5267
Deed Page: 567
Legal: Pt E 3 Wilm Blk 191
Broker Owner: No
PID: 311708.79.9434.000
Tax Identifier: R04720-006-014-000
Plat Book: 0
Plat Page: 0
Total Real Estate Property Taxes: 4220.22
Special Assessments: none
Tax Year: 2021
Zoning: CBD
HOA: No
Cobra Zone: No
Year Built: 1913
Business Type
Mixed: 1
Professional/Office: 1
Miscellaneous
Ceiling Height: 12
Occupancy: 100
Current Use: office
HOA and Neigh Amenities
No Amenities: 1
Attic
None: 1
Basement
None: 1
C & I Features
Delivery Door: 1
Elevator - Freight: 1
See Remarks: 1
Construction
Brick/Stone: 1
Current Service Providers
Electric Provider: Duke Progress Energy
Natural Gas Provider: Piedmont Natural Gas Co.
Sewer Provider: Cape Fear Public Utility Authority
Water Provider: Cape Fear Public Utility Authority
Exterior Finish
Brick: 1
Terms
Cash: 1
Conventional: 1
Foundation
Slab: 1
Flooring
Carpet: 1
Concrete: 1
Tile: 1
Fuel Tank
None: 1
Green Bldg Features
None: 1
Parking Features
Off Street: 1
Paved: 1
Sale/Lease Includes
Buildings: 1
Roof
Membrane: 1
Lot Description
Other: 1
Road Type/Frontage
2 - 3 Lanes: 1
Paved: 1
Public (City/Cty/St): 1
Road/Trans Access
Airport: Less than 5 Miles
County Highway: Less than 5 Miles
Interstate: Less than 5 Miles
Port: Less than 5 Miles
Rail: Less than 5 Miles
State Highway: Less than 5 Miles
Lot Water Features
None: 1
Cooling
Central Air: 1
Other: 1
Location
Cent Business District: 1
Heating System Fuel Source
Electric: 1
Water Heater
Electric: 1
Water Source
Public: 1
Sewer
Municipal Sewer: 1
Lease Types
NNN: 1
BuildingExt Features
SqFt - Heated (Primary): 12528
Status Change Info
Under Contract Date: 2022-01-24
Sold Price: $2,975,000
Sold Date: 2022-05-18
Property Features
Business Type: Mixed; Professional/Office
HOA and Neigh Amenities: No Amenities
Attic: None
Basement: None
Construction: Brick/Stone
Exterior Finish: Brick
Flooring: Carpet; Concrete; Tile
Foundation: Slab
Fuel Tank: None
Green Bldg Features: None
Parking Features: Off Street; Paved
Roof: Membrane
Lot Description: Other
Location: Cent Business District
Lot Water Features: None
Cooling: Central Air; Other
Heating System Fuel Source: Electric
Water Heater: Electric
Sewer: Municipal Sewer
Water Source: Public; Public
Terms: Cash; Conventional
Lease Types: NNN
Listing Office:
Intracoastal Realty Corp
IDX
Last Updated: May - 20 - 2022
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.