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    708 Market St Wilmington, NC 28401

    Under Contract
    For Sale
    $890,000

    MULTI_FAMILY - Wilmington, NC

    Property size:
    5,467 SF
    Lot size:
    0.42 Acres
    Days on Market:
    8
    Last Refresh:
    Dec 13 at 6:06 pm

    Property Features for 708 Market St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Zoning
    HD
    APN
    R04817-039-004-000
    Parking features
    Off Street
    Size
    5,467 SF
    Lot size
    0.42 Acres

    Utilities

    Utilities
    Water Available
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1948
    Flooring type
    Tile, Wood
    Building materials
    Wood Siding
    Roof type
    Metal

    Intracoastal Realty Corp (800) 533-1840

    Listing agent Jeffrey G Hovis (910) 256-4503 License #234605

    Listing date Dec 6, 2025

    Copyright © 2025 HIVE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Mansion in Downtown Wilmington

    Located in Wilmington's Historic District, this 5467 square foot Queen Anne-style historic mansion was built in 1894. Situated on a 0.4 acre lot that fronts Market Street and 7th Street, the property is within walking distance to downtown and close to the Coca-Cola Soda Pop district. The property offers several potential uses, including subdividing the mansion into 4 upscale residences or renovating the 6-bedroom, 5-bath mansion as a luxurious estate. The land size and access also allow for other development plans. The exterior of the mansion has been extensively cared for, and the metal roof is newer. The interior has been stripped down, revealing 12-foot ceilings, a grand staircase, a basement, and 8 fireplaces. Architectural drawings and engineering plans are included with the property. The current owners have cleared the site and obtained all necessary approvals, architectural, and engineering plans for the conversion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.940234
    Latitude
    34.235595

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    FAQs

    What type of property is this?
    Single family property - Unique historic mansion with development potential in Wilmington's Historic District.
    Where is this single family property located?
    The property is located at 708 Market St Wilmington, NC.
    What is the asking price?
    The asking price for this property is $890,000.
    What are key features of this property?
    This property features: - Large 0.4 acre lot in Wilmington's Historic District, facing two streets, offering development potential and subdivision possibilities.; - Approved architectural and engineering plans included for conversion into 4 upscale residences (The Gilchrist Mansion and Carriage House).; - Historic Queen Anne-style mansion (built in 1894) with extensively restored exterior and newer metal roof.
    (910) 256-4503
    Request Owner's contact information
    708 Market St Wilmington, NC 28401
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    Wilmington, NC 28401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    708 Market St Wilmington, NC 28401
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