706 Greenbank RdWilmington, DE 19808

Property Details for 706 Greenbank Rd

Year built

1960

Construction

CONCRETE

Lot size

0.28 AC

Property size (Sq ft)

1,600 SF

Zone code

CR

Property type

Office properties

Property subtype

Other office properties

APN

08-039.10-230

APU

803910230

Description

This exceptional 750 square foot creative office building, located at 706 Greenbank Road in New Castle County, presents a unique opportunity for lease. The property, a Class B building constructed in 1963 and extensively renovated in 2002, offers two nearly identical, vacant units, each approximately 375 square feet. Each unit boasts its own private entrance, workspace, and bathroom, providing maximum privacy and convenience. The building is a two-story structure without elevators. The units are ready for immediate occupancy upon lease signing. Situated on a tranquil side street off Kirkwood Highway, the property offers the benefit of off-street parking. The zoning designation is CR - Commercial Regional. This is an ideal location for businesses seeking a modern, well-maintained space with convenient access and ample parking. The building is currently owner-occupied, creating a collaborative and established environment. Each unit is a near-mirror image of the other, offering flexibility in space selection. Don't miss this chance to secure your perfect creative office space.

• CAP approach

  CAP return

  Valuation

  6%

  $683,795

  6.5%

  $631,196

  7%

  $586,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $339,318

  Geo Method

  $209,056

• Alternative Use

  Use

  Valuation

  Residential

  $782,682

  Hospitality

  $716,933

  Educational

  $596,480

  Medical

  $616,994

  Retail

  $927,858

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.736

Longitude

-75.6355

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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