1306 N 23rd Street, Wilmington, NC 28405 (MLS# 100360919)

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

Overview

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.

Listing Details MLS# 100360919

Contract Info

Marketing Start Date: 2022-12-07
Garage: N/A
Sale/Lease: Sale
Auction: No
Listing Price: 3000000
List Price/SqFt: 1200
Stipulation of Sale: Standard

Location Information

Street #: 1306
Pre Direction: N
Street Name: 23rd
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28405
City Limits: No
Marketing City: Wilmington
Subdivision: Smith Creek Estates
Secondary Subdivision: N/A

Remarks and Showing

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.
Sign on Property: Yes

Building Info

New Construction: No

BuildingExt Features

SqFt - Heated (Primary): 2500

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
Year Built: 1979
Zoning: AI
HOA: No
Cobra Zone: No
Federal Flood Ins Avlbl: Yes

More Information

Status Change Info

Under Contract Date: 2023-01-18
Sold Date: 2023-03-03

Current Service Providers

Electric Provider: Duke Progress Energy

Financial Info

Gross Income: 240000
Cap Rate %: 8

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 Terms: 1031 Exchange; Cash; Conventional

IDX

Listing Office: Intracoastal Realty Corporation

Last Updated: March - 06 - 2023

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