Bought with Lorraine C Sheldon • EMORY HILL REAL ESTATE SERVICES INC.
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708 PHILADELPHIA PIKE Wilmington, DE 19809
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Key Details
Sold Price $857,500
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 10,275 sqft
Price per Sqft $83
Subdivision Bellevue
MLS Listing ID DENC2074390
Sold Date 06/16/25
Year Built 1964
Annual Tax Amount $14,890
Tax Year 2024
Lot Dimensions 170.00 x 141.00
Property Sub-Type Office
Source BRIGHT
Property Description
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.
Location
State DE
County New Castle
Area Brandywine (30901)
Zoning 17MX2
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Carpet, Ceramic Tile, Vinyl
Heat Source Natural Gas
Exterior
Garage Spaces 24.0
Water Access N
Roof Type Rubber,Flat
Accessibility None
Total Parking Spaces 24
Garage N
Building
Foundation Block, Brick/Mortar
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Brandywine
Others
Tax ID 17-001.00-001
Ownership Other
Special Listing Condition Standard
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