4905 Mermaid Blvd Wilmington, DE 19808

Property Details for 4905 Mermaid Blvd

Lot size

2.60 lot acres

Property size

43,400 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 43,400 square foot fitness center, located at 4905 Mermaid Blvd, Wilmington, DE 19808, is offered for sale by owner. The property sits on a 2.6-acre lot and boasts a 7.7% cap rate with a Net Operating Income (NOI) of $400,400. The asking price is $5,200,000, translating to $119.82 per square foot. Recently renovated in 2023, this multi-use facility includes multiple fitness areas, activity rooms, locker rooms, offices, and conference areas. Its versatile design allows for flexible use, including the potential separation of fitness and swimming operations. The property enjoys a prime location in a vibrant residential neighborhood, close to Goldey-Beacom College, Delaware Park Casino, Christiana Care, and the University of Delaware. Its proximity to major transportation routes, including I-95, and its strategic location within five miles of the University of Delaware, Goldey-Beacom College, ILG Airport, Delaware Park, and Downtown Wilmington, enhance its appeal. This turn-key business presents a compelling investment opportunity, benefiting from Delaware's low tax rates and the strong community ties of the area. The property borders two parks and the Pike Creek Golf Course, adding to its desirability. This sale is a sale/leaseback opportunity.