833 N WASHINGTON STREET Wilmington, DE $ 425,000
833 N WASHINGTON STREET
$ 425,000

833 N WASHINGTON STREET Wilmington, DE, 19801

$ 425,000
Bedrooms 6 Baths-- Sq 0

Monthly Estimate*

$ 1,648

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833 N WASHINGTON STREET, Wilmington, DE 19801 - Image 1
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Commercial Property for sale in Wilmington, DE

for $425,000 with 6 bedrooms. This building was built in 1938 on a lot size of 0.06 Acre(s).

Here it is a unique New York style multi-office building complex in center city Wilmington, offered with an option to purchase a separate nine space parking lot parcel (502 W. 9th St.). The property currently has five office suites which could easily be transferred into a mixed use, airbnb or just 4-5 contemporary designed apartments. The existing office use is ideal for an owner occupied office professional looking for additional income with a separate entrance to the remaining four office suites located on the four upper floor levels. This is a rare inter city three story conversion with the second and third floors being a split design. There is also a fire escape added to comply with city code. The first floor office has a spacious high ceiling reception area with arched style atrium windows and occupies the entire first floor. Behind the reception area, there are seven remaining rooms; five are used for office, conference, library, and or break areas, together with two bathrooms and closet storage. The four remaining office suites which occupy the upper floors of the building have separate entrances and share a common entrance to the street. They all have separate reception areas, separate bathrooms, and separate partitioned rooms for available office space. There is also a kitchenette/conference room on the second floor that accessible to all the upper level office suites. The property is within walking distance of downtown Market St. (Dupont Play House, Grand Opera House, and Queen~s World Cafe) the River Front Development and River Walk, Public Transit (train and bus stations), Wilmington's Christiana Care, cafe's, restaurants, wine bars and more! There are several public financing options with the property being situated within the inter city HUD district, borders the creative district targeted by the Wilmington Renaissance Corp, and is within one of Delaware's Downtown Development urban renewal districts. This is a perfect opportunity to part of Wilmington's future development, as well as being a good individual or corporate project with a potential of gross income from both properties being $6000.00+/month. Build equity with a positive capitalization rate, full appraisals in May of 2013 determined 833 N. Washington St. market value to be $545, 000, and 502 W. 9th St. market value at $85, 000. The parking lot parcel 502 W. 9th St. which is ideal for additional parking, being situated directly behind the rear office complex parking, is being offered at $130, 000.

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Commercial Active

Price

$ 425,000

Bedrooms

6

Property Type

Commercial

Taxes

$ 5,664

Style

Office

Lot Size

0.06 Acre(s)

Year Built

1938

Town/City

Wilmington

County/Region

New Castle

MLS | Web ID

DENC317922

Features
Interior
Cooling System Central Air Electric Cooling Window Unit(s)
Flooring Carpet(s) Hardwood Floors
Heating Source Natural Gas Oil
Heating System Forced Air Hot Water Heater: 60+ Gallon Tank Radiators Steam Zoned
Sewer Public Sewer
Water Source Public Water
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Exterior
Community Amenities Security
Construction Advanced Framing
Foundation Block Brick Stone
Roof Built Up
Siding Block Exterior
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* Excluded Features
List By

Listing Agent

Realty Mark Associates - Newark

Broker


Affordability

$ 2,120 per month
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Monthly Principal & Interest
$1,648
Monthly Property Taxes
$472
Monthly Home Insurance
--

Default based on a 30-year fixed rate of 4.125% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby
CHRISTINA School District
STUBBS Elementary School
BAYARD Middle School
CHRISTIANA High School

Map


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833 N WASHINGTON STREET, Wilmington, DE, 19801 is a Commercial Property for sale at $425,000 with 0 sqft and a lot size of 0.06 Acre(s). 833 N WASHINGTON STREET has 6 bedroomsThe property's zip code is 19801 which is in Wilmington, DE