Listed By:
Patterson-Schwartz - Greenville
Address
2825 Madison Street, Wilmington, DE
Price
$ 3,300,000
Property Attributes
  • MLS#DENC2054644
  • TypeCommercial
  • CountyNEW CASTLE
  • CityWilmington
  • AreaWilmington
  • NeighborhoodNinth Ward
  • Zip19802
  • Style
  • Year Built1939
  • Taxes$ 38209
  • Price$ 3,300,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage11000
  • Lot Size0.4 Acres
Data Source:
Bright MLS
Property Description

Former Christ our King Convent. Culmination of 4 plus year repurposing project of a detached 3 story all stone magnificent building into 17 luxury units that couldn't be duplicated for 3 times the offering price. Passionate labor of love to get use variance, development, engineering, and construction on the last and best of the 4 building package. From the 16" Indiana Granite and the high ceiling full basement everything is completely new. Roof, hvac, plumbing including drain and pex water lines, windows, hot water heaters, steel framing, electric, sprinkler, and fire monitoring system. The rough in is 95% complete so investors can inspect all the system before the drywall is installed. Projected completion is slated for 6 months so buyers may have the ability to customize kitchens and color choices. 18 car parking lot with access to stone and slate archway patios. Heat, electric and water all separated !! Drive by the project to witness the splendor and grandeur of this one of a kind building that would certainly be the flagship in any investors portfolio. Proforma projections at a true 7 cap available with POF or recognized bank pre approval letter. 48 notice for showings required upon receipt of requested documentation. Owner may consider Purchase Money mortgage with 30% down from qualified buyer. Building is being reassessed for taxes. Call Larry Lee for details or questions. Listing agent is a managing member of Kaab properties llc.

Price History
1/8/2024 Listed $3,300,000

General Features

Sewer Public Sewer
Heating 90% Forced Air,Heat Pump - Electric BackUp
Cooling Central A/C
Possession 90-120 Days CD
Zoning 26R3
Construction Materials Stone
Year Built 1939
Property SubType Five Or More Units
Tax Year 2022
Percent Ownership Fee Simple
Cool Fuel Electric
Business Type Other
Building Name NONE AVAILABLE
Accessibility 36 + wide Halls,Ramp - Main Level,Wheelchair Mod
County NEW CASTLE
New Construction No
Property Type Commercial Sale
Subdivision Name NINTH WARD
Water Access Y/N No
Status ACTIVE
Directions Miller Road to 29th st. Property on corner of 29th and Madison
ModificationTimestamp 2024-04-30T17:40:46
City WILMINGTON
Buyer Agent Compensation 2
MLS Area Wilmington (30906)
Lot Size Square Feet 17424.00
Tax Assessed Value 790700.0
Waterfront Y/N No
Street Name MADISON
Land Lease Y/N No
Tax Annual Amount 38209.0
Price Per Sq Ft 286.96
Vacation Rental Y/N No
Virtual Tour https://vt-idx.psre.com/KE21251
Days on Market 114
Building Area Units Square Feet
Standard Status Active
Year Built Source Estimated
Buyer Agent Compensation Type % Of Gross

Interior Features

Heating Fuel Electric,Natural Gas
Hot Water Electric
Heating Y/N Yes
Street Suffix STREET
Central Air Y/N Yes

Exterior Features

Water Source Public
Total Parking Spaces 18
Type of Parking Parking Lot
Water View Y/N No
Building Area Total 11500.00
Lot Size Acres 0.40
Lot Size Units Square Feet
Lot Size Source Estimated
Navigable Water Y/N No
Water Oriented Y/N No
Car Parking Spaces 18

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 19802

Price
AVG $750K
$3.3M
Taxes
AVG $7,873
$38,209
Visits
AVG 321
230
Data Provided by Inside Real Estate®
Year Built
AVG 1949
1939

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