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Listing ID: 100280901
Price: $7,100,000
Status: Active
Address: 2916 Market Street
City: Wilmington
State: North Carolina
Postal Code: 28403
SqFt: 399,445
Acres: 9.170
County: New Hanover
Subdivision: Beaumont
Wilmington
NC
28403
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.

Primary Features

County: New Hanover
Property Type: Land
Subdivision: Beaumont
Zoning: O&I1 & R15

External Features

Buildings on Property: See Remarks
Environmental Hazard: Unknown
Fencing: None
Fuel Tank: None
Lot Description: Corner Lot, Multi-Zones, Partially Cleared, Wooded
Lot Water Features: None
Road Type/Frontage: Public (City/Cty/St)
Total Road Frontage: 410
Water/Sewer: Municipal Sewer, Municipal Water, Natural Gas Available
Waterfront: no
Waterview: no

Location Information

City Limits: yes
Cobra Zone: no
Elementary School: Forest Hills
High School: New Hanover
Location Type: Mainland
Marketing City: Wilmington
Middle School: Williston
Secondary Subdivision: N/A
Electric Provider: Duke Progress Energy
Sewer Provider: Cape Fear Public Utility Authority
Water Provider: Cape Fear Public Utility Authority
Topography: Rolling, Sloped, Wooded

Additional

Current Use: Hotel/Motel
HOA: no
HOA Amenities: Pool

Financial Details

Auction: no
Deed Restriction: Yes
List Price/Acre: 774263.9
Possession: At Closing
Soil Evaluation: Soil Evaluation - No
Special Assessments: none
Stipulation of Sale: None
Tax Assessed Value: 2829400
Tax Year: 2021

Zoning Info


Listing courtesy of Eastern Carolinas Commercial Real Estate.

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of North Carolina Regional MLS LLC, and is updated as of Thursday, December 8th, 2022 at 05:05:59 AM. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Neither listing broker(s) nor Coldwell Banker Sea Coast Advantage shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. © 2022 North Carolina Regional MLS LLC.
#IDX-primaryPhoto,#idx-details-header Listed by: Eastern Carolinas Commercial Real Estate (910) 617-2198

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