708 Market St - Apartments FOR SALE


Wilmington, NC 28401
$1,100,000 USD
910-512-2205
708 Market St, Wilmington, NC for Sale
$1,100,000 USD
Apartments - FOR SALE
1/80
null | Request Cap Rate

708 Market St
Wilmington, NC 28401


OVERVIEW

An incredible opportunity awaits. Located in Wilmington’s Historic District is a unique 5,467 square foot historic mansion This Queen Anne-style historic mansion was built by E. William Gilchrist in 1894. It is rare to find a large lot facing two streets in historic downtown Wilmington. This property consists of 0.4 acre and fronts Market Street as well as 7th Street. It is within walking distance to downtown and very close to the new Coca-Cola Soda Pop district. There are many directions one can take this property. One is to follow through with the seller’s plan to subdivide the mansion into 4 upscale residences (The Gilchrist Mansion and Carriage House) One could also renovate the 6 bedrooms, 5 bath mansion as a luxurious palatial estate for your own use. Due to the land size and access, there is room for other development plans too. The current owners have gone to great lengths in the restoration of this property. The site has been cleared, all approvals, architectural and engineering plans are in place and ready for this majestic conversion. All the architectural drawings and engineering plans and more are included with this opportunity. The exterior of the mansion has been extensively cared for, the metal roof is newer, the interior has been stripped down to its bones, and its bones are in excellent shape. The house features 12-foot ceilings, a grand staircase, a basement, 8 fireplaces and so much more! A property of this nature is a rare find. If you are looking for the chance for a spectacular residence, or investment opportunities, this property is all that and much more.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$201 USD /SF

# OF UNITS

4

PRICE/UNIT

$275,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

708 Market Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

HD

APN/PARCEL ID

R04817-039-004-000

ASK ABOUT THIS PROPERTY

Jeff HovisIntracoastal Realty CorporationMore Info
910-512-2205

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Jeff HovisIntracoastal Realty CorporationMore Info
910-512-2205

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.