Technical
Financial
Distress signals
Property profile

222 Delaware Ave Wilmington, DE 19801

FOR LEASE
Turn key restaurants
Property ID
US17-0083967
1,760 SF 0.8 ac lot Built 1987
Entity Owned 6-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

The prestigious PNC Bank Center, a landmark eighteen-story Class A office building in Wilmington, Delaware, offers exceptional executive office space. Built in 1987 and extensively renovated in 2021, this 249,799 square foot building boasts premium finishes. The property features a minimum divisible space of 1,687 square feet, with a maximum contiguous space of 24,180 square feet, and currently has 56,068 square feet of vacant space available for lease. Multiple tenancy options are available. Conveniently located in the heart of downtown Wilmington, the building offers unparalleled access to numerous hotels, restaurants, and coffee shops, all within walking distance. Building amenities include a six-level parking garage with 536 spaces and six EV charging stations, six passenger elevators, one freight elevator, and two parking garage elevators. Modern infrastructure includes Comcast, Verizon, and AT&T voice and data cabling, a water source heat pump HVAC system, and dual electrical feeds (13,000 volts per feed) providing 208/120V for receptacles and 480/277V for lighting. A Brew HaHa! Cafe is located on the ground floor for tenant convenience. This is a truly exceptional opportunity to secure prime office space in a highly desirable location.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1987
Construction ADOBE
Total area 1,760 SF
Lot 0.8 ac (34,848 SF)
Zoning code 26C-4
APN 26-035.20-007
UPID US17-0083967

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Law Firm
  • Law Firm
  • Law Firm
  • Law Firm

Location

222 Delaware Ave Wilmington, DE 19801
Wilmington metro Census 2800 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$920k
CAP Approach CAP
by Request
Comparable Approach Comparable
$511k
Blend (final) Blend
$715k

Owner & transaction history

since 2019
7 recorded transactions
2024
Price N/A
2022
Price N/A
2021
Price N/A
2021
Price N/A
2019
Price N/A
2017
$30.8M
2007
$44.0M

Zoning & alternative use

26C-4 · Wilmington, DE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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