8 S 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 area 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# | 100251454 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Contingent |
| Year | 1918 |
| Days On Site | 55 |
Features
| Units | 2 |
|---|---|
| Building(s) | 1 |
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| Area Information | |
|---|---|
| State | NC |
| County | New Hanover |
| City | Wilmington |
| Zip Code | 28401 |
| Area | New Hanover |
| Listing VS Median (in 28401) | |
Price: $375,000 low | high Med: $239,500 On Site: 55 low | high Med: 23 Sourced by Back At You | |
MLS Number: 100251454Listing Provided By:
Jeffrey G Hovis of Intracoastal Realty Corp