1108 Princess Street, Wilmington, NC 28401

$1,300,000
11,098
SqFt
List Price
$1,300,000
Status
ACTIVE
MLS#
100194864
Days on Market
15
Year Built
1950
Living Area
11,098
Acres
0.69
Neighborhood
Not In Subdivision

Property 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.

Additional Information

Cooling
Central
Heating
Natural Gas
Water Heater
Electric
Floors
Concrete
Foundation
Raised, Slab
Roof
Membrane, Steel Joists/Truss
Exterior Finish
Brick
Sewer
Municipal Sewer, Municipal Water, Natural Gas Connected

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Nest Realty.

Copyright 2019 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.