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225 Valencia Court
Wilmington, NC 28412
Asking Price
$675K
Asset Type
Commercial Retail
Class
Class B
What's Special
The parcel has been brought to pad-ready condition. <p>The land is zoned MD-17 Multi Dwelling High Density Condo District. It sits within the development known as Passage Point located along Independence Blvd east of River Road. The original site development plan included a new 18-unit condominium building to match the neighboring structure. Site infrastructure for the future 18-unit building was installed with the construction of the neighboring condominium. The adjacent building contains 18 condos and is part of an HOA. Inclusion in the HOA
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NOI
$80,000
Cap Rate
11.85%
DSCR
2.00
Strong
Cash-on-Cash
19.72%
Monthly Payment
$3,339.532
Annual Cash Flow
$39,925.62
