1700 Rocky Run Pkwy Wilmington, DE 19803-1443
Property profile & analytics
1700 Rocky Run Pkwy, Wilmington, DE 19803-1443
- Grocery and convenience stores
- 4,738 SF
- 2.12 lot acres
Property ID
US17-0205530
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- WSFS Bank / Bank / Loan Service
Property Details for 1700 Rocky Run Pkwy
- Year built
- 2018
- Construction
- CONCRETE
- Lot size
- 2.12 lot acres
- Zone code
- CR
- Property type
- Grocery and convenience stores
- APN
- 06-019.00-006
- APU
- 601900006
Description
This exceptional investment opportunity presents two single-story buildings totaling 7,122 square feet, situated on a 2.12-acre lot in Wilmington, Delaware. The property boasts 100% occupancy with a strong NOI of $593,000 and a compelling 5.81% cap rate. The asking price is $10,200,000. Built in 2017 and 2018, the property features a Wawa and a WSFS Bank, both operating under long-term triple-net ground leases. Wawa's lease has 13+ years remaining with six 5-year renewal options, while WSFS Bank's lease has 12+ years remaining with five 5-year renewal options. Both leases include attractive rent bumps every five years, providing a hedge against inflation. The strategic location at the signalized intersection of Rocky Run Parkway and Concord Pike (US Route 202) benefits from high traffic counts exceeding 46,600 vehicles daily on Concord Pike and an additional 27,400 on nearby Naamans Road. The property enjoys proximity to major employers like AstraZeneca, JP Morgan Chase, and DuPont, as well as Wilmington University and other educational institutions. A dense residential population within a 5-mile radius, coupled with numerous national retailers and restaurants in the immediate vicinity, ensures a robust customer base. This prime retail location, combined with the strength of the tenants and the long-term lease structure, makes this a highly desirable investment opportunity. The property is situated in a thriving commercial corridor with excellent visibility and accessibility. The area's demographics are strong, with a high average household income within a 3-mile and 5-mile radius.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $500,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,119,000
Market price range: $548k - $1.12M -
Alternative Use
- Use
- Estimation
- SERVICE STATION (FULL SERVICE)
- $820,000 Current use
- COMMERCIAL (GENERAL)
- $850,000 Change: +3% Conversion: Difficult
- MEDICAL BUILDING
- $795,000 Change: -3% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Castle
- State
- Delaware
- Longitude
- -75.5457
- Latitude
- 39.8262
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$24,590
$212,000
$486,900
$698,900
-
$0.00
$0.00
$0.00
