Market Street Office Park
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association language present (entity×78, governance×4)
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What Market Street Office Park's governing documents say
Market Street Office Park is a condominium community in Wilmington, NC, consisting of two multi-unit office buildings with seven units. Each unit is approximately 1,600 square feet and must be used for office purposes only. Unit owners share ownership of common areas and are members of the Market Street Office Park Unit Owners Association.
- What you own & maintain: You own your unit's interior (including non-load-bearing walls, interior finishes, and in-unit mechanicals) and an undivided 14.2868% interest in the common areas. The Association maintains common areas, structural elements, and utility lines up to the unit entry. You are responsible for all maintenance and repairs within your unit, including HVAC, appliances, and interior surfaces.
- Use restrictions: Units may be used only for office purposes and incidental uses. Transient hotel or commercial use is prohibited without Declarant consent. No immoral, offensive, or unlawful uses are allowed, and you must not create nuisances or interfere with other owners' use.
- Structural alterations & exterior changes: No structural modifications or exterior alterations (including painting, antennas, or window coverings) may be made without prior written approval from the Association or Declarant. Changes to common areas, such as fences or landscaping, also require consent.
- Signs & displays: No signs or window displays are allowed except for a small decal on your unit door (approved by Declarant) and a possible marquee at the building entrance listing owners/tenants.
- Pets: No animals may be kept in any unit or common areas without prior written approval from the Declarant or Board of Directors. If approved, the owner is solely responsible for the animal's actions.
- Parking & vehicles: No boats, trailers, campers, mobile homes, recreational vehicles, or commercial vehicles may be parked or stored on the property or adjacent public streets.
- Leasing & rentals: The document does not specify minimum lease terms or restrictions on leasing, but all uses must comply with the office-use restriction and Association rules.
Key facts from Market Street Office Park's documents
- Community type
- Condominium (Article I: submission under Unit Ownersh)
- Legal name
- Market Street Office Park Unit Owners Association (Article II.B and Article VII)
- Units / lots
- 7 (Phase 1) (Article II.R: seven (7) units; Article I)
- Developer / declarant
- Market Street Ventures, a North Carolina General Partnership (Opening paragraph)
- Governing law
- North Carolina General Statutes Chapter 47A (Unit Ownership Act) (Article II.A: ACT defined)
- Assessments & dues
- Based on each unit's undivided percentage interest in common areas (14.2868% per unit for Phase 1); common expenses assessed in same proportion (Article IV.A: undivided interest 14.2868)
- Special assessments
- Permitted; e.g., for damage reconstruction when insurance insufficient (Article VII.F.7); for owner-caused damage repair (Article VII.E.2,3); for owner failure to maintain (Article VII.E.4) (Article VII.F.7(e): assessments against )
- Reserves & fees
- Required: common expenses include capital reserve for repair, maintenance, replacement (Article II.I: Common Expenses include 'a)
- Pets
- Only with prior written approval of Declarant or Board of Directors (Article V.F: no animals without prior wr)
- Leasing & rentals
- Not explicitly prohibited; but no transient hotel or commercial purposes without Declarant consent; likely leasing for office use allowed (Article V.A: no transient hotel or comme)
- Parking & vehicles
- Prohibited on parking areas and common areas (Article V.H: commercial vehicles of any )
- Fences
- Prohibited without written consent of Association (as object fixed to common areas) (Article V.D: no unit owner shall cause a)
- Architectural approval
- Yes; written consent of Association required for structural modifications or alterations; also for exterior changes, objects fixed to common areas, changes to appearance (Article V.D: no structural modification )
- Signs & flags
- Generally prohibited except: (1) decal on door announcing name/address, subject to Declarant approval; (2) marquee at entrance listing names, erected by Association (Article V.E: no signs except those provi)
- Setbacks / home size
- Future buildings not more than two stories above ground level (Article III.D: all buildings built upon )
- Maintenance
- Association (roof is common area) (Article II.G.2: common areas include roo)
- Insurance
- Association insures buildings and improvements at maximum insurable replacement value (excluding foundation/excavation) or 90% co-insurance; covers fire, extended coverage, vandalism, malicious mischief, and other risks (Article VII.F.2: Coverage)
- Use restrictions
- Not residential; office purposes only (Article V.A: No portion of any unit shal)
- Voting & meetings
- As provided in Articles of Incorporation (Article VI) – not detailed in this document; membership mandatory for all unit owners (Article VII.B: membership and voting rig)
About this HOA
Market Street Office Park is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for Market Street Office Park: 1 CC&R. Last updated 2026-06-01.