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    102 2Nd St Wilmington, NC 28401

    Sponsored
    For Sale
    $1,990,000

    Prime location, 4,818 sq ft, fully equipped.

    Property size:
    4,818 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 4,818 square foot restaurant space is available for purchase at $1,990,000 ($413.03/sq ft). Located on the highly visible corner of South 2nd and Dock Streets in Wilmington, North Carolina (zip code 28401), this property boasts a prime downtown location. The space has a proven track record of success, previously housing the well-established Tarantelli's restaurant. All front-of-house furniture, fixtures, and equipment (FF&E), along with kitchen equipment, two bars, and seating for up to 200 patrons are included in the sale. Over $1 million in improvements have been invested to create a beautiful and well-designed restaurant. The property benefits from its proximity to thriving businesses such as Dram Yard and the Arrive Hotel. Further enhancing its appeal, a planned 55-room hotel expansion with retail space is slated for the adjacent lot. This presents a unique opportunity to acquire a turn-key restaurant in a rapidly growing area of downtown Wilmington. The property is categorized as retail, specifically a restaurant, and is situated in New Hanover County.

    Property Features for 102 2Nd St

    General Information

    Property type
    Restaurants
    Square Feet
    4,818 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Tarantelli's Italian Restaurant Fit For Five Gym

    Suggested Use

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

    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
    -77.94729386
    Latitude
    34.23417653

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    FAQs

    What type of property is this?
    Restaurant - Prime location, 4,818 sq ft, fully equipped.
    Where is this restaurant located?
    The property is located at 102 2Nd St Wilmington, NC.
    What is the asking price?
    The asking price for this property is $1,990,000.
    Request Owner's contact information
    102 2Nd 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
    102 2Nd St Wilmington, NC 28401
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