Print
Real Estate - Commercial

Doctors Offer More Than $1M For Former Library Property

By Cece Nunn, posted Oct 31, 2019
Primary Care Associates, a limited liability company organized by a group of doctors, wants to purchase the former public library site next to an existing New Hanover Medical Group property. (Google photo)
A limited liability company organized by doctors wants to buy a county-owned South College Road property for more than $1 million.

The New Hanover County site used to hold a public library, and the sale would be contingent upon approval from county officials and the result of a 10-day upset bid period.

Primary Care Associates LLC bid $1.24 million for the acre at 5155 S. College Road. The site, formerly home to the Myrtle Grove branch of the New Hanover County Public Library, includes the 6,800-square-foot former library building and a small storage building.

The LLC also owns the  New Hanover Medical Group office at 5145 S. College Road, next to the county-owned property, along with the other three NHMG offices in town.

"Basically, there's two main reasons why we've put an offer in on that property. One is we'd really like to own the property contiguous to ours so we can allow egress and ingress at a traffic light," said Jeffrey Warhaftig, a doctor with New Hanover Medical Group, which is part of the New Hanover Regional Medical Center Physician Group. 

Warhaftig, who is also managing partner for Primary Care Associates, said those who need to get to 5145 S. College Road have to make a u-turn on the busy thoroughfare.

"WIth the amount of traffic we have at our office, it's a safety issue," Warhaftig said.

Another reason for the potential purchase: "There's a lot of growth in our county. As a practice, we are continuing to expand to keep up with the growth of the community," Warhaftig said. "So what we're trying to do is purchase this property to move some of our non-patient care activities out of the [other offices] so that we can add more providers in the offices themselves."

The property was advertised for sale the week of Sept. 16 with a minimum required bid of $1.2 million due Oct. 18. The tax value is $1.027 million.

"As part of the project budget ordinance for the Pine Valley Library [a new facility that replaced the Myrtle Grove branch], it was anticipated that the proceeds from the sale of this property would be used to offset a portion of the construction costs of the Pine Valley Library," according to agenda documents for the Nov. 4 New Hanover County Board of Commissioners meeting. "In preparation for the sale of this property, commissioners rezoned this property on April 1, 2019 from R-15, Residential District, to (CZD) B-2, Conditional Highway Business District."  

The agenda item recommends that county officials approve the sale. To complete it, however, the county has to initiate and complete an upset bid process.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Unknown 7112393341

Why Feasibility is Paramount to Success

Holly Segur - Lead Intuitively – Corporate Coaching
Burrus rob headshot 300x300

Spreading Wings for Flight: 2nd Annual Trade Show Highlights the Ingenuity of UNCW Business Students

Robert Burrus - Cameron School of Business - UNC-Wilmington
Chris 16239425

‘Creative,’ An Adjective To Describe Your Accountant?!

Chris Capone - Capone & Associates

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

NCino's Fourth-quarter Earnings Signal Rebound From Liquidity Crisis

Audrey Elsberry - Mar 27, 2024

In The Current Issue

INFO JUNKIE: Jack Fleming

Jack Fleming, owner of Socialry Marketing & Scourz and emcee for 1 Million Cups Wilmington, shares his media and tech picks....


Expanding Tastes On Castle Street

As John Willse and Beth Guertin, owners of Wilmington Wine bottle shop and now the recently opened Creative Tastings restaurant on Castle St...


Topsail-area Realtors Share Updates

Pender County Realtors recently shared updates about the coastal market at an event hosted by the Wilmington-Cape Fear Home Builders Associa...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments