101 N Gray Ave
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101 N Gray Ave
4,708 SF Office Building Wilmington, DE 19805 $595,000 ($126/SF)
Investment Highlights
- New gas HVAC systems
- Masonry construction with “A” frame truss/shingle roof system
- Well maintained & clean interior
- New shingle roof
- Ample windows offering natural light
- Parking for 5 to 6 vehicles (stacked)
Executive Summary
Free standing +/- 4708 sf commercial office flex building conveniently located on the west side of Wilmington DE off Lancaster Ave (RT 48) & Gray Ave, with easy access to the I-95 Interchange . Also close to the 141 (Centre Road) and Lancaster Pike intersection with easy access to Greenville (with abundant retail amenities), and Wilmington, with immediate proximity to the new Barley Mill redevelopment, including Wegmans.
Ideal for an end user since the Property is Leased to a credit rated company for $5,000/month NNN. Contact Broker for details on Lease terms & expiration.
Size: 4,708 sf
First Floor: 3,380 sf
• 2,740 sf private offices, reception, kitchenette, work areas
• 640 sf warehouse with drive in door
Second Floor: 1,328 sf
• 1,152 sf offices & conference room
• 176 sf loft storage
Masonry construction with “A” frame truss/shingle roof system
Ample windows offering natural light
Well maintained & clean interior
Parking for 5 to 6 vehicles (stacked)
New gas HVAC systems
New roof
Ideal for an owner user
Zoned C-2 commercial City of Wilmington
Ideal for an end user since the Property is Leased to a credit rated company for $5,000/month NNN. Contact Broker for details on Lease terms & expiration.
Size: 4,708 sf
First Floor: 3,380 sf
• 2,740 sf private offices, reception, kitchenette, work areas
• 640 sf warehouse with drive in door
Second Floor: 1,328 sf
• 1,152 sf offices & conference room
• 176 sf loft storage
Masonry construction with “A” frame truss/shingle roof system
Ample windows offering natural light
Well maintained & clean interior
Parking for 5 to 6 vehicles (stacked)
New gas HVAC systems
New roof
Ideal for an owner user
Zoned C-2 commercial City of Wilmington
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$60,000
|
$12.74
|
| Other Income |
$5,033
|
$1.07
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$65,033
|
$13.81
|
| Taxes |
$2,033
|
$0.43
|
| Operating Expenses |
$3,000
|
$0.64
|
| Total Expenses |
$5,033
|
$1.07
|
| Net Operating Income |
$60,000
|
$12.74
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $60,000 |
| Annual Per SF | $12.74 |
| Other Income | |
|---|---|
| Annual | $5,033 |
| Annual Per SF | $1.07 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $65,033 |
| Annual Per SF | $13.81 |
| Taxes | |
|---|---|
| Annual | $2,033 |
| Annual Per SF | $0.43 |
| Operating Expenses | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $0.64 |
| Total Expenses | |
|---|---|
| Annual | $5,033 |
| Annual Per SF | $1.07 |
| Net Operating Income | |
|---|---|
| Annual | $60,000 |
| Annual Per SF | $12.74 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
4,708 SF
Building Class
C
Year Built
1954
Price
$595,000
Price Per SF
$126
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,708 SF
Building FAR
0.83
Land Acres
0.13 AC
Zoning
C-2, Wilmington City - Secondary Business Commerce Center
Amenities
- 24 Hour Access
- Kitchen
- Reception
1 of 1
Walk Score ®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 26-025.20-021 | Total Assessment | $38,800 (2023) |
| Land Assessment | $14,200 (2023) | Annual Taxes | $2,033 ($0.43/SF) |
| Improvements Assessment | $24,600 (2023) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
26-025.20-021
Land Assessment
$14,200 (2023)
Improvements Assessment
$24,600 (2023)
Total Assessment
$38,800 (2023)
Annual Taxes
$2,033 ($0.43/SF)
Tax Year
2022
-
Anthony Medori -
Medori Commercial Realty, LLC
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101 N Gray Ave
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