21 Market Street, Wilmington, NC 28401

$1,450,000
7,371
SqFt
List Price
$1,450,000
Status
ACTIVE
MLS#
100171398
Price Change
▼ $50,000 1576202739
Days on Market
459
Year Built
1910
Half-baths
11
Living Area
7,371
Acres
0.06
Neighborhood
Not In Subdivision

Property Description

Incredible opportunity to own a piece of Historic Wilmington in the heart of downtown. This 3 story, 7051 sqft brick building, built in 1910 boasts knockout views of the Cape Fear River and downtown Central Business District. This prime location yields high foot traffic to support two existing first floor retail tenants (real estate office/tattoo parlor). Historic character maintained throughout the building including exposed brick walls, original wood floors still intact in the majority of the building. The first floor has high ceilings with original stamped tin tile and arched beams. The first floor demising wall could easily be removed to return the space to one unit for alternate use. The second floor is built out as offices (9 in total) and features a loft with iconic streetscape views.The third floor is an open space, a blank canvas begging for a grand concept, either primo residential or ''Class A'' office, which could be incorporated into the 2nd floor use. The roof top experience offers spectacular views of downtown Wilmington and the river . The possibilities are endless with tons of value add potential. This building is a ''certified historic structure'' and qualifies for Historic Tax Credits of up to 35%. Redevelopment Opportunities are vast - Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other for Investment, Vacant/Owner-User, Business, Residential, Hospitality, Other wood floors still intact in the majority of the building. The first floor has high ceilings with original stamped tin tile and arched beams. The demising wall separating the first floor into 2 units could easily be removed to return the space to one unit for alternate use. Both units are currently leased. The second floor is built out as offices (9 in total), providing excellent individual workspaces. Add some minor touch ups and your employees will never want to leave. The second floor also features a loft overlooking the streetscape and steps leading up. Second floor tenants are all on month to month leases. On the third floor is open space; a blank canvas begging for a grand concept. Envision prime residential, restaurant/ bar space, or high end office, which could potentially be incorporated into the 2nd floor use. Original wood floors with exposed brick walls and ceiling joists set the stage for something amazing. Venture to the roof top to experience some of the most spectacular views of downtown Wilmington, Cape Fear Memorial Bridge, and the banks of the Cape Fear River . This building is a "certified historic structure" and qualifies for associated tax incentives. See attached documents for history and tax credit information.

Additional Information

Cooling
Central
Heating
Electric, Heat Pump
Water Heater
Electric
Floors
Marble, Wood
Exterior Finish
Brick
Exterior Features
River View
Lot Water Features
River View
Sewer
City Water, Municipal Sewer

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Re/Max Essential.

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