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National Linen Building 1315 S 5th Ave

44,841 SF Industrial Building Wilmington, NC 28401 £1,854,407 (£41/SF)

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Investment Highlights

Prime Development Site. Retail, Multifamily, Warehouse and Mixed Use

Executive Summary

Exceptional commercial property development opportunity in the South End of Wilmington. This property is in an Opportunity Zone and is situated in a high-traffic area with excellent visibility. The parcel consists of 1.9 acres with warehouse structure that is almost 45,000 square feet in size. Property has 250 feet of frontage on S 5th Street and 330 feet of frontage on Martin Street.
The property is zoned UMX(Urban Mixed Use) which permits the operation and use of the of the property for commercial and residential uses, including offer, restaurants, medical offices and retail. This property is ideal for a wide range of commercial mixed uses. The existing structure could be repurposed for retail, office space, mixed use, multifamily or a combination of several uses. Ample parking is available on site on or on street. The surrounding area consists of a mix of residential neighborhoods, businesses, and amenities, making it a hub of activity and potential foot traffic.
Current owner has done a great deal of work to open the opportunity for someone to continue with existing plans or to expand in another direction. The interior has been partially demoed and has been opened up. The seller has other holding in the area and is open to expanding the availability of additional land. A very rare opportunit

survey

Zoning Info

2022-0324 - 1315 S 5th Ave - Imagery Sketches

1315 S 5th Avenue Brochure

Offering Memorandum

Taxes & Operating Expenses (Actual - 2024)	Annual	Annual Per SF
Taxes	£7,862	£0.18
Operating Expenses	£3,286	£0.07
Total Expenses	£11,148	£0.25

Taxes & Operating Expenses (Actual - 2024)

Taxes
Annual	£7,862
Annual Per SF	£0.18

Operating Expenses
Annual	£3,286
Annual Per SF	£0.07

Total Expenses
Annual	£11,148
Annual Per SF	£0.25

Property Facts

Price	£1,854,407	Rentable Building Area	44,841 SF
Price Per SF	£41	Number of Floors	1
Sale Type	Owner User	Year Built	1992
Property Type	Industrial	Parking Ratio	0.45/1,000 SF
Property Subtype	Warehouse General Retail Freestanding	Clear Ceiling Height	23 ft
Building Class	B	Level Access Doors	5
Lot Size	2.58 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£1,854,407
Price Per SF	£41
Sale Type	Owner User
Property Type	Industrial
Property Subtype	Warehouse General Retail Freestanding
Building Class	B
Lot Size	2.58 AC
Rentable Building Area	44,841 SF
Number of Floors	1
Year Built	1992
Parking Ratio	0.45/1,000 SF
Clear Ceiling Height	23 ft
Level Access Doors	5
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

Fenced Lot

Water
Sewer

1 of 1

Bike Score ®

Very Bikeable (84)

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PROPERTY TAXES

Parcel Number	R05413-040-002-000	Total Assessment	£930,490 (2023)
Land Assessment	£94,285 (2023)	Annual Taxes	£7,862 (£0.18/sf)
Improvements Assessment	£836,204 (2023)	Tax Year	2024

PROPERTY TAXES

Parcel Number

R05413-040-002-000

Land Assessment

£94,285 (2023)

Improvements Assessment

£836,204 (2023)

Total Assessment

£930,490 (2023)

Annual Taxes

£7,862 (£0.18/sf)

Tax Year

2024

zoning

Zoning Code	UMX (UMX zoning inside the 1945 corporate limits is intended to reinforce and restore traditional mixed-use patterns in the older parts of Wilmington.)
UMX (UMX zoning inside the 1945 corporate limits is intended to reinforce and restore traditional mixed-use patterns in the older parts of Wilmington.)