2929 Market St

Hospitality: Motel
Pending

2929 Market St, WilmingtonNC 28403

Property Details

Location

Address
2929 Market St, WilmingtonNC 28403
County
New Hanover
Submarket

Building Size

Building Size
20,006 SF

Building Details

Type
 Hospitality: Motel  
 Pending
Number of Buildings
4
Occupancy Type
Single Tenant
Percent Occupied
100%
Building Class
Building Status
Existing
Floors
1
Year Built
1963
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
4.08 Acres
Land (SF)
177,725 SF
Zoning
O&I
Lot Depth
Lot Width

Contacts

Current Listings

4.08 Acre Redevelopment Site

20,006 SF$4,000,000
Eastern Carolinas Commercial Real Estate

This 4.08 acre site is located on Highway 17 / Market Street in Wilmington, North Carolina. The Site is situated at the corner of Wayne Drive and Market Street.

Currently zoned O&I this site has a multitude of potential redevelopment opportunities or stay and operate the hotel.

Redevelopment opportunities include, Multi-family, Office, Townhome, Hospitality (Scrape and Replace), mini storage.

Please Check the LDC with the City of Wilmington for further development opportunities as well as the comprehensive plan.

Market Street as a corridor has seen a redevelopment and adaptive reuse of older hotels as they convert to Multifamily (Budgetel Inn and Motel 6, Days Inn, The Carolinian). One of the conversions is located immediately across the street where a purchaser is proposing a 158 unit Multifamily development.

This site is situated on a bus route, is close to major employment centers, entertainment, grocery, and educational centers. There are sidewalks along Market Street for Pedestrian traffic.

A mixed use development here would be ideal.

Eastern Carolinas Commercial Real Estate

This 4.08 acre site is located on Highway 17 / Market Street in Wilmington, North Carolina. The Site is situated at the corner of Wayne Drive and Market Street.

Currently zoned O&I this site has a multitude of potential redevelopment opportunities or stay and operate the hotel.

Redevelopment opportunities include, Multi-family, Office, Townhome, Hospitality (Scrape and Replace), mini storage.

Please Check the LDC with the City of Wilmington for further development opportunities as well as the comprehensive plan.

Market Street as a corridor has seen a redevelopment and adaptive reuse of older hotels as they convert to Multifamily (Budgetel Inn and Motel 6, Days Inn, The Carolinian). One of the conversions is located immediately across the street where a purchaser is proposing a 158 unit Multifamily development.

This site is situated on a bus route, is close to major employment centers, entertainment, grocery, and educational centers. There are sidewalks along Market Street for Pedestrian traffic.

A mixed use development here would be ideal.

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

BROKER

Source: NCCMLS

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