719 Princess Stree

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719 Princess Stree

Wilmington, NC 28401
Asking Price
$1.32M
Asset Type
Multifamily
Class
Class B

What's Special

719 Princess Street is situated in the heart of downtown Wilmington, North Carolina, within the emerging Soda Pop District. This historic neighborhood is characterized by a blend of industrial heritage and modern urban revitalization. The property is positioned within walking distance of local breweries, artisanal bakeries, and diverse dining options. It offers convenient proximity to the Cape Fear Riverfront and the central business district. Access to major thoroughfares, including US-17 and US-74, provides connectivity to the broader Cape Fear region and nearby coastal communities. As a multifamily asset, this location is suitable for boutique apartment dwellings or adaptive reuse residential units. The surrounding density and walkability cater to a tenant profile comprised of young professionals, urban commuters, and individuals seeking proximity to downtown employment hubs. The neighborhood's mix of commercial services and residential character supports long-term occupancy for those prioritizing an urban lifestyle. The site serves as a functional residential solution for tenants looking to minimize vehicle dependency while remaining integrated into Wilmington's core social and economic infrastructure.

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NOI
$80,000
Cap Rate
6.04%
DSCR
1.02
Tight
Cash-on-Cash
0.35%
Monthly Payment
$6,550.43
Annual Cash Flow
$1,394.845

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