708 Philadelphia Pike, Wilmington, DE 19809-2500
- Office Spaces
- 7,650 SF
- 0.55 lot acres
Current Use by Public Records
- Western Union / Bank / Credit Union
- ATM (Bellefonte BP) / Atm
- Paragon Engineering / Engineering Consultant
- Fast Cash / Check Cashing
Property Details for 708 Philadelphia Pike
- Year built
- 1965
- Construction
- CONCRETE
- Lot size
- 0.55 lot acres
- Zone code
- 17MX2
- Property type
- Office Spaces
- APN
- 17-001.00-001
- APU
- 1700100001
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 8, 2025 | — | Providence912 LLC | Oak Lane LLC | Deed | — |
| Feb 11, 2021 | — | Richard Mayer | Mayer & Mayer | Deed | — |
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,300,000
- 6.5%
- $1,200,000
- 7%
- $1,115,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,128,000
- AI Estimate
- $755,000
Market price range: $1.13M - $2.43MMarket price range: $394k - $1.73M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- 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
