$379,000

8 7th Street

Wilmington NC, 28401

Description

Unique business and investment property opportunity that is located in the heart of Wilmington's Downtown Historic District. By right, this property can be a residential duplex that can generate rental income. The downtown rental market is competitive and the demand is extreme. As a residential duplex, the downstairs and upstairs units each have three bedrooms and one bathroom. Each unit has a large living areas and exterior covered porches. There is also a 3rd floor open attic area that can be storage or possible additional living space. This property also has the potential of operating as a mixed use building. A Special Use Permit exists that provides an outline of utilizing the downstairs unit as an office and the upstairs unit as a residence. The new owner would need to work through planning and zoning to approve the use. The existing special use permit information is provided as an attachment. The location of this sit is within walking distance to downtown. The property is bordered by residential and commercial uses. The residential use provides someone to own one unit and rent the other. Upon approval the right owner/operator or investor has great mixed use income earning potential. Must contact City of Wilmington Planning to utilize the special use permit.

Details

MLS#100203302
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1918
Days On Site257

Features

SQ Feet3,396
Story(s)1
Units1
ZoningHD
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Area Information
StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Listing VS Median (in 28401)
Price:
$379,000
low | high
Med:
$244,990
85.358839050132% of Average
SqFt:
3,396
low | high
Med:
1,343
100% of Average
$ / SqFt:
$112
low | high
Med:
$182
13.45598107651% of Average
On Site:
257
low | high
Med:
49
100% of Average
Listing Updated: 10/20/2020
Stephanie A Heller LogoMLS Number: 100203302
Listing Provided By:
Stephanie A Heller  of  Intracoastal Realty Corporation
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