708 Philadelphia Pike

$950,000

708 Philadelphia Pike, Wilmington, De 19809

For Sale

Mixed Use

Active

Last Updated: 02/08/2025

Details:

Cap Rate: 7%

NOI: $65,764.54

Building Size: 10,275 sqft

Year Built: 1964

Price Per Sqft: $92.46

Zoning: 17MX2

Roof: Rubber, Flat

Offered by

Lorraine Sheldon

Agent

NAI | Emory Hill

Request Info to Unlock

Highlights:

Days on Market: 26
Heating: Forced Air

Description:

Exceptional investment opportunity! This prime commercial property is currently leased and offers immediate rental income and a hassle-free ownership experience.
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.