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River Place 240 N Water St 6,746 SF of Retail Space Available in Wilmington, NC 28401
Highlights
- Prime corner location at Water Street & Chestnut Street
- Convenient access to nearby parking and major thoroughfares
- Walkable to the Riverwalk, restaurants, retail, hotels, and downtown amenities
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 6,746 SF | Negotiable | $41.85 CAD/SF/YR $3.49 CAD/SF/MO $282,340 CAD/YR $23,528 CAD/MO | Triple Net (NNN) |
1st Floor
6,746 SF available for lease at River Place Second-generation retail/office space Ground-floor location in a Class A mixed-use building Currently occupied by AXIS Fitness Training Located beneath Ruth’s Chris Steak House and adjacent to Mellow Mushroom Prime corner location at Water Street & Chestnut Street Exceptional visibility and pedestrian traffic Walkable to the Riverwalk, restaurants, retail, hotels, and downtown amenities Convenient access to nearby parking and major thoroughfares Lease Rate: $30.00/yr/SF (NNN)
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 6,746 SF | Gross Leasable Area | 34,000 SF |
| Property Type | Retail | Year Built | 2019 |
| Total Space Available | 6,746 SF |
| Property Type | Retail |
| Gross Leasable Area | 34,000 SF |
| Year Built | 2019 |
About the Property
Position your business in one of Downtown Wilmington’s most recognizable mixed-use developments. This second-generation office space is located on the ground floor of River Place, directly beneath Ruth’s Chris Steak House and adjacent to Mellow Mushroom, offering exceptional visibility and convenient access in the heart of the city’s business and entertainment district. Currently occupied by AXIS Fitness Training, the space is ideally suited for office, medical, wellness, or professional service users seeking a move-in-ready location within a Class A building. Situated at the prominent corner of Water Street and Chestnut Street, River Place offers a dynamic environment surrounded by restaurants, retail, luxury residences, hotels, and the Wilmington Riverwalk.
Nearby Major Retailers
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River Place | 240 N Water St
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