Wilmington - Beach Property For Sale #7204166

Exceptional Multi-Use Development Opportunity on Castle Hayne Road Discover a prime 4.56-acre property perfectly situated for both commercial and residential development along bustling Castle Hayne Road. Featuring approximately 1.7 acres of B-1 zoned land with 300 feet of road frontage, this site offers excellent visibility. Behind the commercial frontage, you'll find 2.6 acres of R-20 zoned vacant land, providing endless possibilities for development. Adding value to this offering, the seller is completing a new 3,100 sqft warehouse designed for efficiency. The warehouse boasts two 12'x12' roll-up doors, a spacious 1,200 sqft office area, which includes two private offices, a conference room, kitchenette, and ADA-compliant restrooms. The property also features three residential rental units: a single-family home and a duplex, with two currently occupied. This generates a steady monthly rental income of $2,425, with tenants responsible for utilities and lawn care. Note that viewing the interiors of these homes requires an accepted agreement. While the property is primarily marketed for its commercial warehouse and land value, the existing rental income adds a beneficial revenue stream during the planning and development phase. The dual zoning allows for integrated business operations along Castle Hayne Road while accommodating appropriate residential use on the back property. There is potential for sub-dividing, and the seller is open to discussing various options. Homes are being sold as-is, with square footage estimates provided by the owner that have not been verified. This ideal location is just minutes from the I-40 bypass, Downtown Wilmington, ILM Airport, and the rapidly developing Castle Hayne area. This sale includes three parcels (2723, 2725, and 2727 Castle Hayne Road)