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
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.
More Information MLS# 100360919
Contract Info
Status: Closed
Marketing Start Date: 2022-12-07
Garage: N/A
Sale/Lease: Sale
Auction: No
Listing Price: 3000000
Current Price: $2,650,000
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
Geo Lat: 34.253078
Geo Lon: -77.919069
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
Status Change Info
Under Contract Date: 2023-01-18
Sold Price: $2,650,000
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: City Water
Terms: 1031 Exchange; Cash; Conventional
Listing Office: Intracoastal Realty Corp
Last Updated: March - 06 - 2023
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