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420 N 3rd Street, Wilmington, NC 28401

$1,400,000
Property Type: Land Lot Size (sq. ft.): 23,958 Status: Closed
Current Price: $1,400,000 List Date: 1/04/2021 Last Modified: 1/19/2026

Overview

Description

This prime retail development site is located at the full access lighted intersection of 3rd St and Red Cross St. and it also offers alley access on the other 2 sides. Currently on the property is a building that served as an auto garage in the past and could be retrofitted to a very cool restaurant or bar. Redevelopment potential is extremely high here, among the most active in the area. This site overlooks Cape Fear Community College and is surrounded by new development in every direction. Third St sees heavy traffic daily and the site has a clean environmental bill of health. CBD zoning allows for maximum use of the lot for building envelope. Paved Lot with no setbacks - for repurpose or knockdown - EXCELLENT Visibility

Listing Details MLS# 100110992

Contract Info

Marketing Start Date
2018-04-16
Sub-Type
Mixed Use
Auction
No
Listing Price
1550000
List Price/Acre
2818181.82
Stipulation of Sale
Standard

Location Information

Street #
420
Pre Direction
N
Street Name
3rd
Street Suffix
Street
County
New Hanover
State/Province
NC
Zip Code
28401
City Limits
Yes
Marketing City
Wilmington
Subdivision
Not In Subdivision
Secondary Subdivision
N/A

Remarks and Showing

Directions to Property
Downtown Wilmington/ Central Business District - Corner Property Take Eastwood/MLK towards downtown, merges into 3rd St. Property is on the southeast corner of Red Cross and N 3rd St (across from the Shell Station)
Sign on Property
Yes

Property Exterior Info

Acres - Total
0.55
Lot SqFt
23958
Deed Restriction
No
Total Road Frontage
150
Waterfront
No
Waterview
No
Location Type
Mainland

Legal and Taxes

Tax Assessed Value
376700
Deed Book
5265
Deed Page
1694
Legal
PT LTS 1/2/3 BLK 220 WIM
Broker Owner
No
PID
R04813032002000
Tax Identifier
R04813032002000
Plat Book
1844
Plat Page
872
Special Assessments
none
Tax Year
2017
Zoning
CBD
HOA
No
Cobra Zone
No
Elementary School
Snipes
Middle School
Virgo
High School
New Hanover

Status Change Info

Under Contract Date
2021-01-21
Sold Date
2021-06-08

More Information

Current Use

Retail
Yes

Bldgs on Property

Garage
Yes

HOA and Neigh Amenities

No Amenities
Yes

Soil Evaluation

Soil Evaluation - No
Yes

Topography

Cleared
Yes
Level
Yes

Terms

Cash
Yes
Conventional
Yes

Fuel Tank

None
Yes

Environmental Hazard

No
Yes

Road Type/Frontage

Paved
Yes
Public (City/Cty/St)
Yes

Property Features

Current Use: Retail Bldgs on Property: Garage Soil Evaluation: Soil Evaluation - No Topography: Cleared; Level Fuel Tank: None Environmental Hazard: No HOA and Neigh Amenities: No Amenities Terms: Cash; Conventional
Listing Office: RE/MAX Essential
IDX
Last Updated: January - 19 - 2026
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