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    101 Gray Ave Wilmington, DE 19805

    Sponsored
    For Sale
    $595,000

    Prime Wilmington Office, 4,708 SF

    Property size:
    4,708 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional owner-user opportunity presents a 4,708-square-foot freestanding office building situated on a 0.13-acre lot at 101 N. Gray Ave, Wilmington, DE 19805. Built in 1954, this two-story building boasts a solid masonry construction with an "A" frame truss/shingle roof system, recently updated with a new shingle roof and new gas HVAC systems. The interior is well-maintained and clean, featuring ample natural light from numerous windows. The first floor encompasses 3,380 square feet, including 2,740 square feet of private offices, a reception area, kitchenette, and additional workspaces. A 640-square-foot warehouse with a drive-in door adds versatility. The second floor offers 1,328 square feet, comprising 1,152 square feet of offices and a conference room, along with 176 square feet of loft storage. The property is zoned for commercial use and provides parking for 5-6 vehicles (stacked). Its convenient location on Gray Avenue offers easy access to the I-95, I-295, and I-495 interchanges, as well as proximity to Route 141 and the Barley Mill development. This is a rare opportunity to acquire a well-maintained, versatile office building in a desirable Wilmington location. The asking price is $595,000.

    Property Features for 101 Gray Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    4,708 SF
    Lot Size
    5,663 SF

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    2

    HighLights

    • 4,708 SF freestanding office building on a 0.13‑acre lot at 101 N. Gray Ave, Wilmington, DE 19805.
    • Solid masonry construction with a new roof and HVAC systems.
    • Two‑story building with 3,380 SF first floor including offices, reception, kitchenette, and a 640 SF warehouse with drive‑in door.
    • 1,328 SF second floor with offices, conference room, and loft storage.
    • Zoned commercial, 5‑6 parking spaces, excellent access to major highways (I‑95, I‑295, I‑495, Route 141), near Barley Mill development.
    • Asking price: $595,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Micro Edge Inc Medical Equipment Manufacturer

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5838585
    Latitude
    39.7510772

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Wilmington Office, 4,708 SF
    Where is this office property / space located?
    The property is located at 101 Gray Ave Wilmington, DE.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: 4,708 SF freestanding office building on a 0.13-acre lot at 101 N. Gray Ave, Wilmington, DE 19805.; Solid masonry construction with a new roof and HVAC systems.; Two-story building with 3,380 SF first floor including offices, reception, kitchenette, and a 640 SF warehouse with drive-in door.
    Request Owner's contact information
    101 Gray Ave Wilmington, DE 19805
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    Wilmington, DE 19805
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    101 Gray Ave Wilmington, DE 19805
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