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3405 Market St 18,200 SF 100% Leased Retail Building Wilmington, NC 28403 $2,300,000 ($126.37/SF) 7.12% Cap Rate
Investment Highlights
- Frontage on Market St.
- Signage.
- Great retail visibility.
Executive Summary
A Market Street income property priced for less than $130 per/SF!
Great retail visibility makes this income property worthy as a long-term investment. Originally built as a furniture store, this two-tenanted building has been home to Linprint for nearly 20 years. Fleabody’s Antique Mall has operated in the adjacent unit for nearly a decade.
This building is approximately 18,200 SF situated on 1.25 acres which also fronts both Henry & Clay Streets on the side yard. Access to a fenced rear yard and parking area is available from either side street. The Linprint space has a large loading dock in the rear.
This property has an excellent history of occupancy and, at less than $130 per square foot, it is priced well below replacement value.
Great retail visibility makes this income property worthy as a long-term investment. Originally built as a furniture store, this two-tenanted building has been home to Linprint for nearly 20 years. Fleabody’s Antique Mall has operated in the adjacent unit for nearly a decade.
This building is approximately 18,200 SF situated on 1.25 acres which also fronts both Henry & Clay Streets on the side yard. Access to a fenced rear yard and parking area is available from either side street. The Linprint space has a large loading dock in the rear.
This property has an excellent history of occupancy and, at less than $130 per square foot, it is priced well below replacement value.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
18,200 SF
Building Class
B
Year Built
1958
Price
$2,300,000
Price Per SF
$126.37
Cap Rate
7.12%
NOI
$163,760
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.33
Lot Size
1.25 AC
Zoning
CS & R-5 - Commercial/Residential
Parking
17 Spaces (0.93 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,223,500 | |
| Land Assessment | $654,500 | Total Assessment | $1,878,000 |
Property Taxes
Parcel Numbers
Land Assessment
$654,500
Improvements Assessment
$1,223,500
Total Assessment
$1,878,000
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3405 Market St
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