An historical art deco-style building on North Front Street in downtown Wilmington is on the market.

Home to two retail spaces, the nearly 7,000-square-foot building "has a lot of investment opportunities," said Joan Loch, broker for MoMentum Companies and listing agent for the property. "It also has [historic] tax credit opportunities for an investor."

The listing price is $1.2 million. 

One of the tenants, Crescent Moon, is closed and is not expected to reopen after the death of business owner Buffy Frank, said Loch, who sold Crescent Moon, an art and handmade crafts store, to Frank in 2015. Frank died in September.

The court-appointed administrator for Frank's estate, attorney Noel Fox, had no comment on the future of Crescent Moon on Friday.

The Wonder Shop, which primarily sells vintage clothing, remains open, and the owner isn't planning on going anywhere anytime soon. 

"I love where I am. I've been her for six years," said Kelsey Gibbs, owner of The Wonder Shop. "It's a wonderful space, and the landlord has preserved the building with great care."

Of the closing of Crescent Moon, Gibbs said, "That was a great tragedy, and she was a creative part of Front Street, always had beautiful window displays and just really loved the community."

The owner of the building where Crescent Moon opened several years ago, Ed Peacock, said he started buying the structure at 22 and 24 North Front St. in 1976 and didn't complete his mission until 1996. Before then, seven charities and other parties had ownership interests in the building, and his purchase required negotiations with them all, he said.

Built in the late 1930s, the structure has a long history, and Peacock's connection to it goes back even further. In 1906, Peacock's grandfather moved to Wilmington and became a clerk in the shoe store that eventually was named Freeman Shoe Co. Primarily selling women's shoes, Freeman opened in the North Front Street building in 1940. The adjacent space in the building that shares a wall, where The Wonder Shop welcomes customers these days, was previously home to Mademoiselle Shoppe, a dress store, and Old Books on Front Street, which moved to 249 North Front in 2010. 

The first-floor retail spaces have hardwood floors, exposed brick walls, high ceilings with exposed timbers and period street front display windows, according to marketing materials. In January 2010, Peacock had to embark on an extensive renovation project to make the building structurally sound and update it.

The property comes with six parking spaces at the rear doors and second floor spaces that have separate heating and air, hardwood floors, brick walls and overhead lighting.

The response from the initial outreach to investor groups, local and regionally, that MoMentum has done has been extremely positive, Loch said. 

“We really don’t believe it will be on the market long,” she said.