Active

2825 Madison St

Wilmington DE, 19802

$3,300,000


$286.96 per sqft

Active

11,500 sqft

Commercial

Built in 1939

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.

DENC2054644

MLS ID

January 8, 2024

Listed

February 20, 2025

Updated

Interior Features

Appliances

Electric Water Heater


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air, Electric, Natural Gas

Exterior/Building Features

Lot Size

0.4 Acres


Sewer

Public Sewer

Other Property Details

Taxes

$38,209


Tax Frequency

Annually


Days on Market

31


Accessibility

Accessible Entrance


Garage

No


Parking Total

18


View

No


County

NEW CASTLE


Water Source

Public


Pool

No

Listed by Patterson-Schwartz - Greenville
Listing Contact: 3024294500 

The IDX display contains information sourced from the Bright MLS, Inc. as of 2/20/2025. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 2/20/2025 at 11:46 PM UTC

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