1131 North Atlantic Ave Southport, NC 28461
Leased mixed-use building with residential and commercial tenants in Southport.
Building Details
- Year built
- 2008
Source:
Lee-associates
Listing Agent: David Divine
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Southport Mixed-Use Investment Opportunity
This 5,020 square foot, two-story, multi-tenant, mixed-use building is located in the heart of Southport, North Carolina. The building is 100% leased and features a Thai restaurant on the entire first floor and two large, residential units on the second floor. Each residential unit has 3 bedrooms and 3 full baths, and is approximately 1,500 square feet. Both units also feature large, covered porches. On-site, surface parking is available for the exclusive benefit of the tenants and customers. The property is located just off of Howe Street, Southport's main corridor with many restaurants and retail shops, and is just minutes from the downtown waterfront, providing convenient and easy access from all areas of Southport. The established Thai restaurant operates on a 5-year lease with 3% annual escalations. The residential tenants recently signed 1-year lease extensions; one tenant has been there for over 5 years. Residential units can be short-term rented in this zoning district, and current rents are below market.
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Southport
- County
- Brunswick
- State
- North Carolina
- Longitude
- -78.0230623
- Latitude
- 33.9331708
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Leased mixed-use building with residential and commercial tenants in Southport.
Where is this mixed-use property located?
The property is located at 1131 North Atlantic Ave Southport, NC.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: - 100% leased, providing immediate income.; - Located in the heart of Southport, near restaurants and retail.; - Priced well below replacement cost at $185 per square foot.
