3200 Wilmington StRaleigh, NC 27603

Property Details for 3200 Wilmington St

Year built

1967

Construction

FRAME

Lot size

0.37 AC

Property size (Sq ft)

2,204 SF

Zone code

CX-3

Property type

Retail properties

Property subtype

Retail space

APN

1702.14-33-7525 0328766

APU

1702143375250328766

Description

This 0.37-acre retail property, located at 3200 S Wilmington Street in Raleigh, NC, presents a unique investment opportunity. Priced at $2,000, the property is zoned and restricted for specific uses only: salon, barber shop, or nail salon. This limitation ensures a cohesive and targeted tenant base, minimizing potential conflicts and maximizing the property's appeal to businesses within these specific service categories. The property's size, while not specified in square footage, offers ample space for a thriving salon or similar establishment. Its location in Raleigh provides access to a substantial customer base and benefits from the city's robust economic activity. The 0.37-acre lot provides potential for expansion or outdoor amenities, subject to applicable zoning regulations and restrictions. Given the specific use restrictions, this property is an excellent choice for an entrepreneur looking to establish or expand a salon-related business in a prime Raleigh location. Serious inquiries only. The property is offered as-is. Further details regarding the property's interior layout and specific zoning regulations are available upon request. This is a rare opportunity to acquire a well-situated retail space in a desirable area of Raleigh, tailored for a specific and in-demand business type.

• CAP approach

  CAP return

  Valuation

  6%

  $785,328

  6.5%

  $724,918

  7%

  $673,138

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,470,284

  Geo Method

  $1,274,884

• Alternative Use

  Use

  Valuation

  Residential

  $611,495

  Hospitality

  $560,126

  Educational

  $466,018

  Medical

  $482,046

  Retail

  $724,918

Location Insight

City

Raleigh

County

Wake

State

North Carolina

Latitude

35.7376

Longitude

-78.6505

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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