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.
Ico insights


Billcoleman lopw headshot

Reaping The Benefits Of Patience

Bill Coleman - Live Oak Private Wealth
Katiebraskett web

June 2022 Freight Market Update

Katie Braskett - MegaCorp Logistics
Dallasromanowski headshotcopy

Love Can’t Be Blind: Preparing for a Business Transfer to Children or Insiders

Dallas Romanowski - Cornerstone Business Advisors

Trending News

Galleria Property On Wrightsville Ave. Sold For $37.5M

Cece Nunn - Aug 10, 2022

Leland Town Center Lands New Tenant; Lowe’s Begins Construction

Johanna F. Still - Aug 10, 2022

Pipeline Poke Headed To Autumn Hall

Elizabeth White - Aug 10, 2022

Rachael Ray, Emeril Lagasse To Appear At GLOW Event

Justin Williams Pope - Aug 10, 2022

New Biz Creations In Cape Fear Region Continue Strong Trend

Johanna F. Still - Aug 9, 2022

In The Current Issue

Film On Rebound; New Horse Enters Race

New soundstages in Wilmington are set to be constructed toward the end of the year – marking activity that appears hasn’t happened since the...

Stacking The (parking) Deck

The amount and cost of parking in urban settings is a ubiquitous topic, particularly in growing cities like Wilmington, where not everyone a...

Commercial Tenants Navigate Rent Spikes

One of the realities small businesses throughout the area face when trying to find commercial space, which also include increasing rents and...

Book On Business

The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100