708 Philadelphia Pike
10,275 SF Retail Building Wilmington, DE 19809 $950,000 ($92.46/SF) 7.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully leased with a strong tenant.
- Close to all major highways, I-95, I-495 and on Rt. 13.
- Low maintenance building for ease of ownership
- P# 1700100001 consisting of two buildings. (7,650sf & 2,625 sf)
- Potential to increase income with below-market rents
- 4 new gas-fired HVAC units installed in 2023
EXECUTIVE SUMMARY
Situated within a zone offering mixed-use flexibility, this property comes leased with a long-term tenant, making it an ideal investment opportunity. Identified by the reference number P#1700100001, it boasts excellent visibility with a lot frontage spanning 170 feet. Additionally, the presence of a dock door and ample free parking enhance its appeal for various commercial endeavors.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
10,275 SF
Building Class
C
Year Built
1965
Price
$950,000
Price Per SF
$92.46
Cap Rate
7.20%
NOI
$68,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.43
Lot Size
0.55 AC
Zoning
17MX2-Mixed Use 2 - Retail, Office, Residential uses and is further intended to allow apartments as stand-alone uses (multi-family)or integrated with non-residential uses
Parking
24 Spaces (3.47 Spaces per 1,000 SF Leased)
Frontage
170’ on Philadelphia Pike
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $312,200 | |
| Land Assessment | $206,000 | Total Assessment | $518,200 |
