Wilmington, DE 19809 708 Philadelphia Pike

708 Philadelphia Pike Wilmington, DE - Image 1708 Philadelphia Pike Wilmington, DE - Image 2708 Philadelphia Pike Wilmington, DE - Image 3
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Presented By: EMORY HILL REAL ESTATE SERVICES INC.
  • MLS# DENC2074390
  • 01/14/2025
  • Request Tour
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  • SQFT • 10,275

Home Details

This prime commercial property is currently leased and offers immediate rental income and a hassle-free ownership experience. Buy as an investor, wait till the tenant's lease is up and move in with your own business or change it from office to retail or mixed-use. Many possibilities. The tenant is paying very low rent so at the end of the lease period, on a renewal it can be increased considerably. Property Highlights: Parcel # 1700100001 consists of two buildings. The stand-alone building is 7,650 SF and the smaller building is 2,625 SF (attached to JT's Market, not including the market.) for a total of 10,275 SF. Tenant has been in place since 1987 and has a lease signed through November 2027. The tenant is below market rent. At the end of November 2027, an owner can increase rents, use the building themselves, or develop the property to a mix-use, etc. The buildings have had new HVAC systems within the last two years. It's in great shape with an engineering firm as the tenant. Call the agent for more details and discuss a tour.
Presented By: EMORY HILL REAL ESTATE SERVICES INC.

Interior Features for 708 Philadelphia Pike

Other Interior Features

Central Air Y/NYes
FlooringCarpet, Ceramic Tile, Vinyl
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterNatural Gas

General for 708 Philadelphia Pike

AccessibilityNone
Building NameNONE AVAILABLE
Business TypeOther
Cap Rate7.00
CityWILMINGTON
Construction MaterialsBlock, Brick
Cool FuelElectric
CoolingCentral A/C
CountyNEW CASTLE
DirectionsGPS
ExclusionsThe Tenant's personal belongings and furniture.
HeatingForced Air
Lease Considered Y/NNo
Legal SubdivisionVILLA MONTEREY
MLS AreaBrandywine (30901)
ModificationTimestamp2025-04-16T19:56:38
Net Operating Income65764.54
New ConstructionNo
Number Of Units Total
Operating Expense21215.46
OwnerPaysInsurance, Taxes - Real Estate
OwnershipOther
PossessionImmediate
Price Per Sq Ft Total AG87.59
Property ConditionVery Good
Property SubtypeOffice
Property TypeCommercial Sale
Property UseInvestment
RoofRubber, Flat
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Subdivision NameBELLEVUE
Tax Annual Amount14890.0
Tax Assessed Value374000.0
Tax Lot001
Tax Year2024
Total Actual Rent86980.00
TransportationBus Stop less than 1 mile
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built1964
Year Built SourceEstimated
Zoning17MX2

Exterior for 708 Philadelphia Pike

Building Area Total10275.00
Car Parking Spaces24
Foundation DetailsBlock, Brick/Mortar
Land Assessed Value83900.00
Land Use Code
Lot Dimensions170.00 x 141.00
LotDimensionsSourceAssessor
Navigable Water Y/NNo
Total Loading Docks1
Total Parking Spaces24
Type of ParkingParking Lot
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Rachel Shepherd

Price $900,000
MLS#DENC2074390
List Date 01/14/2025
Property Type Commercial
Phone 703.929.4729
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