$1,299,000

1007 4th Street

Wilmington NC, 28401

Description

Business opportunity available. Currently offering the combination of a fully unfitted commercial building, commercially zoned land and successful business, all located in Wilmington's rapidly developing Central Business District. Palate Bottle Shop and Reserve is a well know and loved social destination in the North 4th area of Wilmington. The building is a combination of a little over 2,967 SF of retail and entertainment space that is placed on a .34 acre parcel of land located in one of the fastest growing areas in Wilmington. This is a unique opportunity to acquire a successfully turn key business with additional space available for commercial development. The business model in place has been able to increase sale during the challenge of COVID . The land placement opens up the opportunity to develop the site to add additional commercial and residential units. Current ownership and management have established a business, marketing and management plan to assist in the business's continued success. The development in the surrounding business and residential neighborhoods have expanded the investment potential for this offering. This location is close to the Cape Fear River Walk, Marina, Wilson Center, Convention Center, River Front Park and an area slated for over $300 Million Dollars of additional development projects.

Details

MLS#100244883
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1960
Days On Site111

Features

SQ Feet2,005
Story(s)1
Units1
ZoningCBD
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Area Information
StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Listing VS Median (in 28401)
Price:
$1,299,000
low | high
Med:
$229,900
100% of Average
SqFt:
2,005
low | high
Med:
585
100% of Average
$ / SqFt:
$648
low | high
Med:
$393
89.341965877763% of Average
On Site:
111
low | high
Med:
618
17.961165048544% of Average
Listing Updated: February 27, 2021 8:45:38 PM PST
Jeffrey G Hovis LogoMLS Number: 100244883
Listing Provided By:
Jeffrey G Hovis  of  Intracoastal Realty Corp
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