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Real Estate - Commercial

Former Port City Chop House Property Changes Hands For Nearly $3M

By Cece Nunn, posted May 2, 2022
The property holding the former Port City Chop House building sold at the end of April. (Photo from the Port City Chop House Facebook page)
The property that held Port City Chop House on Eastwood Road has changed hands for nearly $3 million.

The longtime Wilmington restaurant closed permanently in April. Keith Hall, who owned the restaurant and the real estate, sold it last week to 5512 Business Dr LLC, a Wilmington-based entity managed by Mark Maynard Jr., for $2.855 million, according to the deed and state records. 

The property, 1981 Eastwood Road, includes a 6,850-square-foot restaurant building and 1.75 acres, property tax records show.

"The new owner is looking at options for redevelopment of the site in the near future," said Steve Hall, partner in Wilmington-based commercial real estate firm Maus, Warwick, Matthews & Co., on Monday.

Hall, who represented the buyer in the transaction, said plans for the property could also include a new restaurant tenant. 

The Port City Chop House Facebook page features a post dated April 22 announcing the closure of the steakhouse restaurant not far from Wrightsville Beach.

"It is with a heavy heart that we must announce that we have permanently closed the Port City Chop House. The pandemic has had an insurmountable effect on our business and we were forced to sell the property. We appreciate all of your support and patronage over the past 20 years," the post stated.

The owner's other two North Carolina properties, Capital City Chop House at 151 Airgate Drive in Morrisville and Chop House at Mendenhall at 4001 Meeting Way in High Point, "are still open and are both doing well," according to the Facebook post.
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