722 S 17th St, Wilmington, NC for sale

Investment Overview

The property is zoned Urban Mixed-Use (UMX), one of Wilmington’s most flexible commercial zoning designations. UMX allows for a wide range of permitted uses, including retail, restaurants, office, breweries, fitness, hospitality, live-work units, and mixed-use development with residential above commercial. Permitted uses include retail, restaurants, office, financial services, hospitality, breweries and taprooms, fitness and wellness studios, arts and entertainment, live work units, and residential above ground floor commercial. This broad range of uses gives owners the flexibility to adapt the property as market conditions evolve. For investors, developers, and owner users, the UMX designation creates multiple value creation opportunities. The property can continue as a single tenant investment, be repositioned as a multi tenant retail or creative office project, or be redeveloped into a mixed use development on the approximately 1.5 acre site, maximizing both current income and long term upside.

Investment Highlights

• 10,088 SF freestanding building
• Built 2014
• Retail-ready condition
• 1.5-acre corner lot located on Wooster St & S. 17th St.
• UMX zoning: broadest permitted use set in the Wilmington LDC.
• Permitted uses include retail, restaurant, office, hotel, brewery, fitness, live-work, residential above commercial, and more.
• Redevelopment potential for mixed-use project on 1.5 acres.
• Located in the Cargo District, Wilmington’s premier urban mixed-use destination
• Strong pedestrian traffic + robust STR/visitor demand driver
• Sale Price: $2,650,000