9 W Atlanta St, Wrightsville Beach — $1,850,000 | $1,542/sq ft Waterfront Condo

Property Summary

This Banks Channel waterfront condo at 9 W Atlanta Street in Wrightsville Beach is listed at $1,850,000 for 1,200 square feet — pricing it at roughly $1,542 per square foot, a significant premium over the submarket's $1,026/sq ft median. The listing includes a 20-foot boat slip, which partially explains the pricing delta but raises the analytical question: does waterfront access with dockage justify a 50%+ premium to the broader Wrightsville Beach market? For investors evaluating waterfront exposure in the $1.2M–$2.5M corridor, this listing serves as a useful pricing benchmark for small-footprint, high-amenity waterfront product.

Fast Facts

• Address: 9 W Atlanta Street, Wrightsville Beach, NC 28480
• List Price: $1,850,000
• Beds / Baths: 3 bed / 2 bath
• Sq Ft: 1,200
• Lot Size: Not confirmed in public listing details
• Year Built: Not confirmed in public listing details
• Price / Sq Ft: ~$1,542
• DOM: Not confirmed; Wrightsville Beach waterfront median is 78 days (Redfin)
• Property Type: Condo (waterfront, Banks Channel)
• Notable Feature: Includes 20-foot boat slip
• Flood Zone: Not confirmed in public listing details

What Stands Out

• Price per square foot is 50% above market median. At ~$1,542/sq ft versus the Wrightsville Beach median of $1,026/sq ft, this listing carries a substantial premium. However, direct waterfront positioning on Banks Channel with a dedicated boat slip is a differentiator that typical median statistics do not capture.
• Described as renovated. Listing aggregators note the property has been renovated, though the scope, timeline, and quality of renovations are not detailed in available public sources.
• Boat slip included. A 20-foot slip on Banks Channel adds functional and economic value. Boat slip leases in the Wrightsville Beach area can range from $3,000–$8,000+ annually depending on size and location, providing a rough floor for that amenity's value.
• Small footprint for a $1.85M price point. At 1,200 square feet, the unit is compact relative to competing listings. For comparison, 15 Coral Drive is listed at $2,575,000 for 2,707 sq ft (~$951/sq ft), and 440 Causeway Drive #B at $2,150,000 for 1,782 sq ft (~$1,206/sq ft).
• Inventory context matters. With only 15 waterfront homes listed on Redfin and 26 on Zillow, supply is thin. Constrained inventory tends to support pricing power for well-positioned waterfront assets.

Pricing Lens

The $1,542/sq ft figure is the highest per-square-foot ask among the comparable waterfront listings surfaced in current research. Here is a snapshot:

The pattern is clear: smaller waterfront units in Wrightsville Beach command higher per-square-foot pricing, but 9 W Atlanta Street pushes that curve further than comparable listings. Whether the renovation quality and boat slip justify the spread requires on-the-ground verification. Year-over-year, the broader Wrightsville Beach median price has declined 13.34%, while price per square foot has slipped 1.27% — indicating some softening that sellers of premium product should not ignore.

Neighborhood & Market Context

Wrightsville Beach remains one of the most supply-constrained residential markets in the greater Wilmington, NC area. The island's total housing stock is finite — there is essentially zero undeveloped residential land. Banks Channel-facing properties offer ICW (Intracoastal Waterway) access, which is a durable demand driver for boating-oriented buyers. The town's proximity to Wilmington's growing healthcare, tech, and film production employment base provides a demand floor, while seasonal tourism supports the short-term rental market. However, Wrightsville Beach regulates short-term rentals, and zoning restrictions vary by district — a critical variable for investors modeling STR income.

Risks & Watch-Outs

• Flood insurance costs. Wrightsville Beach barrier island properties are virtually certain to be in a FEMA high-risk flood zone (AE or VE). Flood insurance premiums under Risk Rating 2.0 can range from $3,000 to $15,000+ annually for waterfront condos. This is a material carrying cost.
• Wind and hazard insurance. Coastal properties in New Hanover County face elevated windstorm premiums that can add $5,000–$12,000+ per year depending on construction type and elevation.
• STR regulation risk. Wrightsville Beach has historically imposed rental permit requirements and minimum stay rules. Any investor underwriting STR income must confirm current ordinance status, as enforcement has tightened in recent years.
• Year built and systems unknown. Without confirmation of the building's age, roof condition, HVAC age, or structural engineering, renovation claims cannot be independently assessed.
• HOA fees not disclosed. Condo HOA fees in waterfront Wrightsville Beach buildings can range significantly; high assessments will compress net yields.
• 13.34% YoY median price decline across Wrightsville Beach suggests the broader market is repricing. Buyers should factor in the possibility of near-term valuation compression.

What to Verify Next

• Confirm year built, last renovation scope, and building condition via New Hanover County tax records / GIS
• Obtain FEMA flood zone designation and base flood elevation for this address
• Request current flood and windstorm insurance premium quotes
• Confirm HOA fees, special assessments, and reserve fund status
• Verify Wrightsville Beach STR permit eligibility for this specific parcel/zone
• Pull recent closed comps (last 6 months) for Banks Channel waterfront condos from MLS
• Confirm days on market for this specific listing
• Assess boat slip ownership vs. lease structure and any associated fees