103 W Pine St - Office FOR SALE


Georgetown, DE 19947
$399,000 USD
302-381-2504
103 W Pine St, Georgetown, DE for Sale
$399,000 USD
Office - FOR SALE
1/15
null | 9.75% Cap Rate

103 W Pine St
Georgetown, DE 19947


HIGHLIGHTS

  • Tenant in place for 30 years
  • Excellent condition - being sold "As-Is"
  • High capitalization rate

OVERVIEW

Immediate Income!!! Great investment opportunity in the heart of Sussex County. 2 story farmhouse currently used as a professional office space with 5 offices, one full bathroom, one half bathroom, a conference room and full kitchen with new lease currently producing $39k per year in income. Zoned UR 1 in the town limits of Georgetown with conditional use approval. Although the zoning is residential, mortgages will most likely need to be commercial. Currently leased for two more years to long term tenant. Tenant pays all utilities. Landlord pays Insurance and Taxes. 10% Cap rate. ADA accessible. Baseboard radiator with furnace and mini splits for heat. Central AC with two outdoor units just purchased in 2021. Older building in excellent condition with many updates to include floors, roof, HVAC and windows. Currently parking for 6 vehicles with storage garage and plenty of room to grow.

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$160 USD /SF

CAP RATE

9.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rollins building - 103 W. Pine Street

PROPERTY TYPE

Office

ADD'L SUBTYPES

undefined, Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1796

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,148 SF

ZONING

-

APN/PARCEL ID

135-19.08-185.00

ASK ABOUT THIS PROPERTY

John RishkoPatterson-Schwartz & AssociatesMore Info
302-381-2504

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John RishkoPatterson-Schwartz & AssociatesMore Info
302-381-2504

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.