708 Philadelphia Pike Wilmington, DE 19809

Property Details for 708 Philadelphia Pike

Year built

1965

Construction

CONCRETE

Lot size

0.55 lot acres

Property size

7,650 SF

Zone code

17MX2

Property type

Office Properties & Spaces

APN

17-001.00-001

APU

1700100001

Description

This exceptional investment opportunity in Wilmington, Delaware, presents a 10,275 square foot mixed-use property currently generating rental income. The property comprises two buildings situated on parcel # 1700100001. A larger, stand-alone structure encompasses 7,650 square feet, complemented by a smaller, 2,625 square foot building attached to JT's Market (the market space itself is not included in the 10,275 square foot total). The property benefits from a long-term lease with an established engineering firm tenant, in place since 1987 and extending through November 2027. Currently operating below market rent, this presents a significant opportunity for future rental increases upon lease expiration. Recent improvements include new HVAC systems installed within the last two years, ensuring the property is well-maintained and ready for immediate occupancy. The property's versatile nature allows for continued leasing, owner-occupancy, or potential redevelopment into a mixed-use configuration after November 2027. This is a rare chance to acquire a stable, income-producing asset with considerable upside potential in a desirable Wilmington location. The asking price is $950,000.

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Longitude

-75.5005

Latitude

39.7702

CBSA code

37980

CBSA name

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

Property Tax & Assessments