$1,300,000

1108 Princess Street

Wilmington NC, 28401

Description

Myriad options for redevelopment, current use or repurposing are presented with this excellently positioned property in the Princess St. UMX corridor. The interior features more than 11,000sf of predominantly clear span interior with office space and two bathrooms framed in the front and two larger locker rooms in the rear. The exterior provides one roll up dock-high door and five pedestrian doors positioned around the building for multiple points of ingress and egress plus asphalt surface parking with 37 spots.The site features approximately 200' of frontage on Princess and 151' on N 11th with the curb cut and driveway on N. 11th. Adjacent to the Soda Pop District, other nearby redevelopment projects, and less than a mile from Historic Downtown, the location is highly walkable and provides easy access to local highways and interstates. UMX zoning allows 45' building height by right with up to 75' via the Special Use Permit process. The building is clear spanned and could easily have all partition walls removed to provide a blank shell to partition into a multitude of uses. The truss height could allow a mezzanine or the creation of multiple two story apartments. Other potential uses include a live music venue, brewery/distillery, gym(current use), residential or a mix of a variety of uses. Further development potential exists on the remainder of the lot.The greater Downtown area has been experiencing robust developer investment with the trend expected to continue for many years to come. The Greater Wilmington Area is one of the fastest growing in North Carolina with ever increasing demand and the resulting inventory shortage for office and retail space as well as housing.

Details

MLS#100194864
Sub-TypeResale
StatusActive
Year1950
Days On Site10

Features

SQ Feet11,098
Story(s)1
ZoningUMX

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Area Information

StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Listing VS Median (in 28401)
Price:
$1,300,000
low | high
Med:
$229,900
100% of Average
SqFt:
11,098
low | high
Med:
1,367
100% of Average
$ / SqFt:
$117
low | high
Med:
$168
6.427314163525% of Average
On Site:
10
low | high
Med:
143
6.993006993007% of Average
Listing Updated: 12/10/2019
MLS Number: 100194864
Listing Provided By:
Eric G Knight  of  Nest Realty
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