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    1120 Princess St Wilmington, NC 28401

    Sponsored
    For Sale
    $1,195,000

    Established Restaurant, High-Traffic Location

    Property size:
    1,516 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 1,516 square foot restaurant located at 1120 Princess Street in Wilmington, North Carolina. Situated on a 0.24-acre lot (APN: R04818-019-011-000) in the vibrant Soda Pop District, this property boasts a 100% occupancy rate and is currently operating as a restaurant. The building, constructed in 1951, features a fully equipped kitchen with a hood system and other food service equipment. Beyond the main building, the property includes a 163 square foot greenhouse, a 124 square foot storage shed, and an expansive 7,900 square foot open area ideal for parking or storage. The property is zoned UMX, offering diverse potential uses. The asking price is $1,195,000, representing a 4.00% cap rate. This turnkey operation presents a rare chance to acquire a thriving business in a prime location with significant upside potential. The property's versatile zoning and ample space allow for various expansion and development opportunities. This is a truly unique opportunity to own a piece of Wilmington's thriving culinary scene.

    Property Features for 1120 Princess St

    General Information

    Property type
    Restaurants
    Square Feet
    1,516 SF
    Lot Size
    10,454 SF

    Building Details

    Year Built
    1951

    HighLights

    • $1,195,000 asking price for this 1,516 SF restaurant.
    • Located at 1120 Princess St, Wilmington, NC 28401.
    • Retail property with a NNN lease, currently 100% occupied.
    • Features a 4.00% cap rate.
    • Built in 1951, situated on a 0.24‑acre lot (APN: R04818‑019‑011‑000).
    • Zoned UMX.
    Property Profile Location Intelligence

    Current Use by Public Records

    Soda Pop Gallery Art Gallery Seacoast Systems Inc Window Treatment Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    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
    -77.9344099
    Latitude
    34.2374904

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, High-Traffic Location
    Where is this restaurant located?
    The property is located at 1120 Princess St Wilmington, NC.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: $1,195,000 asking price for this 1,516 SF restaurant.; Located at 1120 Princess St, Wilmington, NC 28401.; Retail property with a NNN lease, currently 100% occupied.
    Request Owner's contact information
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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
    1120 Princess St Wilmington, NC 28401
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