2916 Market Street, Wilmington, NC 28403 | 100280901 | Intracoastal Realty

2916 Market Street $5,100,000

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    2916 Market Street Wilmington, NC 28403

    • 9.17 Acres
    • Land
    • MLS# 100280901
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    Views: 94 Days On Site: 104

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    Property Details

    The Carolinina Inn is a 61 room motel located at the corner of Market Street (Highway US 17) and Wayne Drive. The Hotel has five Structures of which four are the Hotel and one is the Managers House. The room counts of each section are 21 / 14 / 26. The main value in the property is the 9.17 acres of property on Market street. This site is a prime candidate for redevelopment. It is located 2.38 miles from the downtown river front. It is located 2 miles to the intersection of Highway 17 and I-40. Its central location and proximity to major points of interest provide for a wide array of potential uses. Highest and Best use maybe the conversion to Multifamily or repurpose as multifamily and infill develop the surplus land. Bring your vision to this beautiful site.Property is currently bifurcated by two zoning districts and would require a rezoning of the entire acreage to accommodate a new use. The Zoning currently on the property is O&I on the front (aprox 2.5+/- acreage) and R15 on the remainder of the acreage [Buyer to verify, Listing Agent has an old survey]. This property abuts Multifamily Medium High Density. Situated between Wayne Drive and 29th streets this hotel has access points to both of those streets, in addition to the Market Street Access. The property in addition to housing the Inn, also has a 3700 sf +/- home for the Inn Keeper on it. Notable area locations are: Beaumont Park which is located on Wayne Drive, the Ivy Cottage, Indochine, the Azalea Inn, The YMCA all of which are less then 1 mile from this site. The property is also on the City of Wilmington Bus line. The property in the rear has a ditch system as well as a small pond. Sellers have a survey on hand. No further documents are in hand as it relates to the property.

    • General Features
      • Acres Total 9.17
      • City Limits Yes
      • Waterview No
      • Waterfront No
      • Subdivision Beaumont
      • Stipulation of Sale None
      • Cobra Zone No
      • Hoa No
      • County New Hanover
    • Property Features
      • Bldgs on Property See Remarks
      • Fencing None
      • Lot Water Features None
      • Road Type Frontage Public (City/Cty/St)
      • Topography Rolling,Sloped,Wooded
    • Schools
      • High School New Hanover
      • Middle School Williston
      • Elementary School Forest Hills

    Contact

    Matthew Steiner

    Matthew Steiner

    Associate

    280352

    Lumina Station - Wilmington

    Mobile: 910-599-5842

    Neighborhood

    28403 (Wilmington) Demographics

    29 Median Age
    2,893 Population Density (per sq. mile)
    51% College Educated
    $39,744 Estimated Median Income
    5,880 Estimated Total Home Owners
    12,049 Estimated Total Renters
    33% / 67% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    41,525 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $271,000 Median Sales Price
    40 Homes Sold
    39 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $5,100,000
        7/13/2021 3:33:00 PM New in Database Source: Multiple Listing Service New Value: $5,100,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.