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2916 Market Street

Wilmington, NC 28403
  • $3,900,000
  • STATUS: Pending with Showings
  • ON SITE: 399 Days
  • ID#: 100280901
Under Contract
UPDATED: 28 min ago
$3,900,000
  • 0
    BEDS
  • 9.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

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.

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© 2022 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS. Data last updated 2022-08-17T21:12:23.07.
www.rachelkendallrealestate.com/homes/119267668
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2916 Market Street Wilmington, NC 28403

  • Price: $3,900,000
  • Status: Pending with Showings
  • On Site: 399 Days
  • Updated: 28 min ago
  • ID#: 100280901
0
Beds
0
Baths
0
½ Baths
9.17
Acres
Neighborhood:
Beaumont
County:
New Hanover
Area:
Wilmington
Elementary School:
Forest Hills
Middle School:
Williston
High School:
New Hanover
Property Description
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.
Exterior Features

Buildings On Property See Remarks Fencing None Location Type Mainland Lot Description Corner LotMulti-ZonesPartially ClearedWooded Lot Water Features None Road Type Frontage Public (City/Cty/St) Topography RollingSlopedWooded Total Road Frontage 410 Waterfront No Waterview No

Interior Features

Soil Evaluation Soil Evaluation - No

Property Features

Auction No City Limits Yes Cobra Zone No Current Use Hotel/Motel Deed Restriction Yes Electric Provider Duke Progress Energy Environmental Hazard Unknown Fuel Tank None Hoa And Neighborhood Amenities Pool Hoa YN No Land Sub Type 5+ Multi-Family Possession At Closing Secondary Subdivision N/A Sewer Provider Cape Fear Public Utility Authority Tax Year 2021 Water Provider Cape Fear Public Utility Authority Water Sewer Municipal SewerMunicipal WaterNatural Gas Available Zoning O&I1 & R15



Listing information © 2022 NCRMLS
Listing courtesy of Bernadette M Silivanch of Eastern Carolinas Commercial Real Estate: (910) 399-4602.


© 2022 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS. Data last updated 2022-08-17T21:12:23.07.
 
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