1020 Princess St Local commercial 1 098 m² 100 % Loué À vendre Wilmington, NC 28401 3 159 471 € (2 877,18 €/m²) Taux de capitalisation 6,90 %

100% occupied adaptive reuse in the heart of Wilmington's Soda Pop District. This is the building that kickstarted a 3.4 city block master planned redevelopment. Strong long term tenants, Hi Wire Brewing and Cugino Forno Pizzeria, both with multiple other locations. Asking price for rents in place, 6.85% cap, with revenue increase in December growing to 6.9% cap, and 7.1% cap in year 2. Building was originally a car dealership, reimagined as an adaptive retail project. All systems (electrical, plumbing, hvac, roofs) replaced between 2020-2022. Great location with surrounding restaurants, businesses, and residential. 90 unit apartment building slated for development across the street. Leases are MG with landlord responsible for property management, landscaping, pest control, and base year taxes and insurance.