1024 S College Rd, Wilmington, NC 28403

Description

Take advantage of a rare development opportunity along one of Wilmington's busiest commercial corridors. This ±0.19-acre (8,084 SF) Community Business (CB) zoned site at 1024 S. College Road has already undergone preliminary review by the City of Wilmington Technical Review Committee for a proposed two-story commercial building, giving a future buyer a head start in the entitlement process. Municipal water and sewer are available to the parcel.

CB zoning supports a wide range of neighborhood-serving retail and professional uses - office, medical, personal services, food and beverage among the possibilities - on a corridor that carries some of the heaviest daily traffic in New Hanover County, minutes from UNCW, midtown retail, and dense surrounding rooftops. Approximately 50 feet of frontage puts your signage directly in the sightline of that traffic.

Small-format commercial sites on S. College rarely come available - even more rarely with TRC review underway and assumable-style financing attached. Concept plan and due diligence materials available to qualified buyers on request.

Attractive financing in place: per the seller, existing owner financing at 6% interest-only may be transferable to a qualified buyer, subject to lender approval - meaning a buyer could control this site by bringing the difference to closing rather than financing the full price in today's rate environment. Terms and details available to qualified buyers on request. Note that the existing note matures September 1, 2027, so the transferable financing serves as short-term bridge financing, with the balance due at maturity.