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