Mixed Use Building in Heart of Downtown Wilmington for Historic Preservation Renovation

21 Market Street, Wilmington, NC

$1,450,000

Price

7,371 sqft

Building Size

0.0591 acres

Lot Area

Overview
Building Size
7,371 sqft
Lot Area
0.0591 acres
Units
14
Year Built
1910
Floors
3
Description

Incredible opportunity to own a piece of Historic Wilmington in the heart of downtown. This 3 story, 7051 sqft brick building, built in 1910 boasts knockout views of the Cape Fear River and downtown Central Business District. This prime location yields high foot traffic to support two existing first floor retail tenants (real estate office/tattoo parlor).

Historic character maintained throughout the building including exposed brick walls, original wood floors still intact in the majority of the building. The first floor has high ceilings with original stamped tin tile and arched beams. The first floor demising wall could easily be removed to return the space to one unit for alternate use. The second floor is built out as offices (9 in total) and features a loft with iconic streetscape views.

The third floor is an open space, a blank canvas begging for a grand concept, either primo residential or “Class A” office, which could be incorporated into the 2nd floor use. The roof top experience offers spectacular views of downtown Wilmington and the river . The possibilities are endless with tons of value add potential.

This building is a “certified historic structure” and qualifies for Historic Tax Credits of up to 35%.

Redevelopment Opportunities are vast - Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other for Investment, Vacant/Owner-User, Business, Residential, Hospitality, Other

Downtown Wilmington, 2 blocks south from Market and 3rd, Heavy Foot traffic, Central Business District, Shared walls, Buildings built to property lines, River view front front door, historic district.

Market St. South, property is on the right in between Front and Water Street.

Municipal Water and Sewer. Natural gas available,

Historic brick 3 story in a row of adjoining buildings. Primary street front and alley access. Historic Downtown Wilmington. Mixed Use, heavily pedestrian oriented both day and night.

Electricity

PT LTS 4/5 BLK 164 WILM

Highlights
  • Historic Mixed Use Building
  • CBD Zoning- Downtown Historic District on Cape Fear River
  • Amazing Roof View over the Cape Fear Memorial Bridge and Cape Fear River
  • Commercial Building with High Income Potential
  • Renovation Project
  • Qualifies for Historic Tax Credits of up to 35%
  • Many Unique Details- exposed brick walls, stamped tin ceiling tiles, original hardwood floor
  • APPOINTMENTS REQUIRED. Please do not disturb tenants.

Location
Gallery