8115 Market Street

Property Description

Premier three-story condominiumized building totaling approximately 60,000 rentable square feet located at 8115 Market Street on a well utilized 3.9 acre site. Variety of lease and/or purchase (investment and/or owner-occupy) opportunities are available. B-2 Zoning in New Hanover County allows for various uses from professional office to hospitality to mini-storage to retail and restaurants. The Property is well-positioned in the dynamic Porters Neck submarket of Wilmington, NC. Conveniently situated less than one-half mile I-140, 15 miles from Downtown Wilmington, 13 miles from Wilmington International Airport, 3 miles to Figure 8 Island.  Excellent accessibility with direct right-in, right-out access from Market Street and interconnectivity with the Bayshore Commons Shopping Center which provides accessibility to a stoplight intersection. Within close proximity to a large concentration of amenities including restaurants and retail. Well-parked with 238 parking spaces or in excess of 4.5 per 1,000usf space. Impressive visibility with great signage opportunities.  The building was originally constructed in 2006 with a modern and attractive design by Michael Kersting, architect. The property is still in excellent condition. Units 2D and 3A have existing upfits ready for immediate occupancy by a new owner. Units 2A, 2C and 3B are currently in cold dark shell condition ready for customized upfit for a new owner.

UNIT          TENANT            RSF          USF           SALE PRICE

1A               Medac             6,432          5,360         $1,995,000

1B       Wilmington Health  6,041           5,034         $1,495,000

2A                                      7,622            6,352         $875,000

2C                                      7,283            6,069         $840,000

2D                                      1,836            1,530         $240,000

3A                                      5,514            4,595         $715,000

3B                                     12,596           10,497       $1,450,000

All Units                            53,000           44,167 *     $7,980,000

*Unit 2B included in asking price for entire building.

Specifications

• Square Feet: 60,000
• Acreage: 3.9

More Details

• Status: available
• Address: 8115 Market St
• City: Wilmington
• County: New Hanover
• Square Feet: 60,000
• Acres: 3.9
• Price: NA
• Former Use: Office
• Zoning: B-2
• Lease: $17.50 PSF
• Lease Terms: NNN
• Category: office