833 N Washington Street

    WILMINGTON, DE 19801
    • $425,000
    • STATUS: Active
    • ON SITE: 68 days
    • ID#: DENC317922
    UPDATED: 109 min ago
    $425,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1938
    County:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:

    Description

    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 center 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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    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-03-25T22:13:24.27.
    www.yourchestercountyhomesearch.com/homes/90914736

    833 N Washington Street WILMINGTON, DE 19801

    • Price: $425,000
    • Status: Active
    • Updated: 109 min ago
    • ID#: DENC317922
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    1938
    Built
    Neighborhood:
    Wilmington (30906)
    County:
    New Castle
    Area:
    Wilmington (30906)
    Elementary School:
    Stubbs
    Middle School:
    Bayard
    High School:
    Christiana
    School District:
    Christina
    Property Description
    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 center 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.
    Exterior Features

    Construction Materials BlockAdvanced Framing Direction Faces East Garage YN No Other Structures Above GradeBelow Grade Parking Types Driveway Property Condition As-Is Condition Riparian Rights YN No Roof Built-Up Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 0 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Building Area Total 4500.00 Cooling Central A/CWindow Unit(S) Flooring CarpetHardwood Heating Forced AirRadiatorSteamZoned Heating YN Yes Net Square Feet 4500.00 Security Features 24 Hour Security

    Property Features

    Acceptable Financing ConventionalFha 203(K)Negotiable Accessibility Features None Association YN No Business Type Professional/Office Central Air YN Yes Cooling Fuel Electric Cross Street 9th & Washington Entry Level 1 Foundation Details Brick/MortarStoneBlock Heating Fuel Natural GasOil Hot Water 60+ Gallon Tank Incorporated City Name Wilmington Navigable Water YN N New Construction YN No Number Of Units Total 5 Original MLSNumber 301298932004 Ownership Interest Fee Simple Possession Immediate Property Sub Type Office Sale Type Standard Sewer Public Sewer Tax Annual Amount 5664.0 Tax Assessment Amount 195800.0 Tax Lot 262 Vacation Rental YN No Water Source Public Year Built Effective 1985 Zoning 26C-4

    Listing courtesy of Realty Mark Associates - Newark.
    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-03-25T22:13:24.27.
     
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